J Crew (JCG) S-4 Registration of securities issued in business combination transactions

Exhibit 12

Computation of Ratio of Earnings to Fixed Charges

(in thousands)

	(Combined)			(Predecessor)
	Quarter Ended April 30, 2011			Fiscal Year Ended
				Jan. 29, 2011		Jan 30, 2010		Jan. 31, 2009		Feb. 2, 2008		Feb. 3, 2007
Calculation of Rent Expense
Rent expense	$	26,229		$	93,619	$	85,794	$	74,922	$	62,662	$	54,694
Portion that represents interest (estimated)		8,743			31,206		28,598		24,974		20,887		18,231
Fixed Charges
Interest expense, net		16,692			3,914		2,442		3,790		8,905		42,533
Amortization of deferred financing costs		2,570			2,058		2,942		2,150		2,319		1,460
Interest expense on portion of rent expense     representative of interest (from above)		8,743			31,206		28,598		24,974		20,887		18,231
Fixed Charges		28,005			37,178		33,982		30,914		32,111		62,224
Earnings
Income (loss) before income taxes		(40,653	)		210,054		205,877		90,745		161,255		81,621
Plus: fixed charges		28,005			37,178		33,982		30,914		32,111		62,224
		(12,648	)		247,232		239,859		121,659		193,366		143,845
Other Financial Data
Ratio of earnings to fixed charges		(a)			6.6x		7.1x		3.9x		6.0x		2.3x

(a) Our earnings were insufficient to cover fixed charges by $12,648.