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J.Crew’s New CEO Takes Aim at Customers’ Addiction to Discounts

J.Crew has a discount problem that it intends to solve in the simplest – and if executed correctly, the most effective – of ways: by offering high-quality products that shoppers will want to buy even when they aren’t on sale. According to Libby Wadle, J.Crew’s post-bankruptcy CEO, if the inventory is right, the retailer won’t need deep discounts to move products. J.Crew stumbled in the past when it neglected quality wardrobe staples in favor of fashion and office wear. When these items didn’t sell, the retailer resorted to placing them on clearance, which in turn created an expectation for discounts among shoppers. With a new CEO at the helm, expect changes to J.Crew’s assortment aimed at breaking the vicious cycle.

One of the biggest items on J.Crew Group CEO Libby Wadle’s long to-do list as she leads the company out of the pandemic? To start chipping away at customers’ addiction for discounts at the retailer’s struggling namesake brand.

Read the full story at Fortune.