J Crew (JCG) 10-Q 30 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 05, 2018	May 25, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 5, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	JCG
Entity Registrant Name	J CREW GROUP INC
Entity Central Index Key	1,051,251
Current Fiscal Year End Date	--02-02
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 05, 2018	Feb. 03, 2018
Current assets:
Cash and cash equivalents	$ 36,038	$ 107,066
Merchandise inventories, net	345,254	292,489
Prepaid expenses and other current assets	93,685	92,348
Refundable income taxes	2,349	1,622
Total current assets	477,326	493,525
Property and equipment, net	268,229	289,441
Intangible assets, net	306,860	308,702
Goodwill	107,900	107,900
Other assets	7,851	6,374
Total assets	1,168,166	1,205,942
Current liabilities:
Accounts payable	223,810	232,480
Other current liabilities	158,213	177,206
Borrowings under the ABL Facility	41,561
Due to Parent	37,251	38,210
Interest payable	11,626	21,914
Current portion of long-term debt	15,670	15,670
Total current liabilities	488,131	485,480
Long-term debt, net	1,695,772	1,697,812
Lease-related deferred credits, net	113,589	117,688
Deferred income taxes, net	27,545	27,752
Other liabilities	26,883	30,168
Total liabilities	2,351,920	2,358,900
Stockholders’ deficit:
Additional paid-in capital	733,117	733,071
Accumulated other comprehensive income (loss)	480	(2,603)
Accumulated deficit	(1,917,351)	(1,883,426)
Total stockholders’ deficit	(1,183,754)	(1,152,958)
Total liabilities and stockholders’ deficit	$ 1,168,166	$ 1,205,942

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 05, 2018	Feb. 03, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Revenues:
Net sales	$ 507,706	$ 504,856
Other	32,744	20,911
Total revenues	540,450	525,767
Cost of goods sold, including buying and occupancy costs	333,642	335,168
Gross profit	206,808	190,599
Selling, general and administrative expenses	200,836	210,483
Impairment losses	6,866	131,157
Loss from operations	(894)	(151,041)
Interest expense, net	32,982	20,436
Loss before income taxes	(33,876)	(171,477)
Provision (benefit) for income taxes	49	(50,484)
Net loss	(33,925)	(120,993)
Other comprehensive income (loss):
Reclassification of losses on cash flow hedges, net of tax, to earnings	996	1,864
Unrealized gain (loss) on cash flow hedges, net of tax	2,418	(4)
Foreign currency translation adjustments	(331)	410
Comprehensive loss	$ (30,842)	$ (118,723)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Beginning Balance at Jan. 28, 2017	$ (791,395)		$ 980,368	$ (1,760,227)	$ (11,536)
Beginning Balance (in shares) at Jan. 28, 2017		1,000
Net loss	(120,993)
Reclassification of realized losses on cash flow hedges, net of tax, to earnings	1,864
Unrealized gain on cash flow hedges	(4)
Foreign currency translation adjustments	410
Ending Balance at Apr. 29, 2017	(909,909)
Beginning Balance at Jan. 28, 2017	(791,395)		980,368	(1,760,227)	(11,536)
Beginning Balance (in shares) at Jan. 28, 2017		1,000
Net loss	(123,199)			(123,199)
Share-based compensation	2,299		2,299
Non-cash contribution to Parent in connection with Exchange Offer	(249,596)		(249,596)
Reclassification of realized losses on cash flow hedges, net of tax, to earnings	6,537				6,537
Unrealized gain on cash flow hedges	693				693
Foreign currency translation adjustments	1,703				1,703
Ending Balance at Feb. 03, 2018	(1,152,958)		733,071	(1,883,426)	(2,603)
Ending Balance (in shares) at Feb. 03, 2018		1,000
Net loss	(33,925)			(33,925)
Share-based compensation	46		46
Reclassification of realized losses on cash flow hedges, net of tax, to earnings	996				996
Unrealized gain on cash flow hedges	2,418				2,418
Foreign currency translation adjustments	(331)				(331)
Ending Balance at May. 05, 2018	$ (1,183,754)		$ 733,117	$ (1,917,351)	$ 480
Ending Balance (in shares) at May. 05, 2018		1,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (33,925)	$ (120,993)
Adjustments to reconcile to cash flows from operating activities:
Depreciation of property and equipment	21,505	25,163
Impairment losses	6,866	131,157
Amortization of intangible assets	1,803	2,288
Amortization of deferred financing costs and debt discount	1,790	1,227
Reclassification of hedging losses to earnings	1,355	3,056
Share-based compensation	46	209
Foreign currency transaction (gains) losses	30	(191)
Deferred income taxes	(991)	(51,775)
Changes in operating assets and liabilities:
Merchandise inventories, net	(53,005)	(10,618)
Prepaid expenses and other current assets	(1,478)	(15,535)
Other assets	(1,668)	631
Accounts payable and other liabilities	(43,913)	22,253
Federal and state income taxes	563	1,847
Net cash used in operating activities	(101,022)	(11,281)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(7,179)	(8,317)
Net cash used in investing activities	(7,179)	(8,317)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings under the ABL Facility	41,561
Quarterly principal repayments of Term Loan Facility	(3,918)	(7,835)
Net cash provided by (used in) financing activities	37,643	(7,835)
Effect of changes in foreign exchange rates on cash and cash equivalents	(470)	(225)
Decrease in cash and cash equivalents	(71,028)	(27,658)
Beginning balance	107,066	132,226
Ending balance	36,038	104,568
Supplemental cash flow information:
Income taxes paid	9	16
Interest paid	$ 42,131	$ 21,928

Basis of Presentation

Basis of Presentation	3 Months Ended
	May 05, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation J.Crew Group, Inc. and its wholly owned subsidiaries (the “Company” or “Group”) were acquired (the “Acquisition”) on March 7, 2011 through a merger with a subsidiary of Chinos Holdings, Inc. (the “Parent”). The Parent was formed by investment funds affiliated with TPG Capital, L.P. (“TPG”) and Leonard Green & Partners, L.P. (“LGP” and together with TPG, the “Sponsors”). Subsequent to the Acquisition, Group became an indirect, wholly owned subsidiary of Parent, which is owned by affiliates of the Sponsors, investors and members of management. Prior to March 7, 2011, the Company operated as a public company with its common stock traded on the New York Stock Exchange. The accompanying unaudited condensed consolidated financial statements were prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2018. The Company’s fiscal year ends on the Saturday closest to January 31. All references to “fiscal 2018” represent the 52-week fiscal year that will end on February 2, 2019 and to “fiscal 2017” represent the 53-week fiscal year that ended February 3, 2018. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary to present fairly in all material respects the Company’s financial position, results of operations and cash flows for the applicable interim periods. Certain prior year amounts have been reclassified to conform to current period presentation. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year as a whole. Management is required to make estimates and assumptions about future events in preparing financial statements in conformity with generally accepted accounting principles. These estimates and assumptions affect the amounts of assets, liabilities, revenues and expenses at the date of the unaudited condensed consolidated financial statements. While management believes that past estimates and assumptions have been materially accurate, current estimates are subject to change if different assumptions as to the outcome of future events are made. Management evaluates estimates and judgments on an ongoing basis and predicates those estimates and judgments on historical experience and on reasonable factors. Since future events and their effects cannot be determined with absolute certainty, actual results may differ from the estimates used in preparing the accompanying unaudited condensed consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	May 05, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Overview. The Company generates revenue from three sources: (i) customers who shop in its brick-and-mortar stores, (ii) customers who shop on its websites, and (iii) wholesale customers who buy and resell its merchandise. The Company recognizes revenue at (i) the point-of-sale in brick-and-mortar stores, (ii) an estimated date of receipt by a customer in the e-commerce business, and (iii) the time ownership is transferred in the wholesale business. New Pronouncement. At the beginning of fiscal 2018, the Company adopted a pronouncement that clarified the principles of revenue recognition and standardized a comprehensive model for recognizing revenue arising from contracts with customers. Adoption of the new standard impacted the financial statements of the Company as follows: • Change in the timing of recognition of breakage income associated with its loyalty program; • Change in the timing of recognition of expenses related to direct-response advertising costs; • Change in the presentation of the allowance for sales returns to recognize the reserve on a gross basis in the condensed consolidated financial statements, including recording a current asset related to its right to recover products for its sales returns, with an offsetting increase to its liability for returns; and • Change in the presentation of income from its private label credit card from a reduction of SG&A to other revenues. Impact of Adoption. The adoption was applied retrospectively to each prior period presented, with the cumulative effect of all fiscal years prior to those periods presented recorded to retained earnings. The cumulative effect recorded as of January 31, 2016 was $5.0 million. The impact of adoption on the condensed consolidated statement of operations for the previous two fiscal years is as follows: For the Year Ended February 3, 2018 January 28, 2017 As reported Adjustments As adjusted As reported Adjustments As adjusted Revenues: Net sales $ 2,270,190 $ (2,380 ) $ 2,267,810 $ 2,359,622 $ 388 $ 2,360,010 Other 99,928 5,957 105,885 65,840 5,745 71,585 Total revenues 2,370,118 3,577 2,373,695 2,425,462 6,133 2,431,595 Cost of goods sold, including buying and occupancy costs 1,477,943 (1,879 ) 1,476,064 1,550,185 120 1,550,305 Gross profit 892,175 5,456 897,631 875,277 6,013 881,290 Selling, general and administrative expenses 870,950 1,731 872,681 818,546 5,744 824,290 Impairment losses 141,187 — 141,187 7,752 — 7,752 Income (loss) from operations (119,962 ) 3,725 (116,237 ) 48,979 269 49,248 Interest expense, net 110,513 — 110,513 79,359 — 79,359 Loss on refinancings — — — 435 — 435 Loss before income taxes (230,475 ) 3,725 (226,750 ) (30,815 ) 269 (30,546 ) Benefit for income taxes (105,516 ) 1,965 (103,551 ) (7,301 ) 486 (6,815 ) Net loss $ (124,959 ) $ 1,760 $ (123,199 ) $ (23,514 ) $ (217 ) $ (23,731 ) The impact of the adoption on the condensed consolidated statement of operations for the first quarter of fiscal 2017 is as follows: For the Thirteen Weeks Ended April 29, 2017 As reported Adjustments As adjusted Revenues: Net sales $ 513,180 $ (8,324 ) $ 504,856 Other 18,786 2,125 20,911 Total revenues 531,966 (6,199 ) 525,767 Cost of goods sold, including buying and occupancy costs 343,729 (8,561 ) 335,168 Gross profit 188,237 2,362 190,599 Selling, general and administrative expenses 210,423 60 210,483 Impairment losses 131,157 — 131,157 Loss from operations (153,343 ) 2,302 (151,041 ) Interest expense, net 20,436 — 20,436 Loss before income taxes (173,779 ) 2,302 (171,477 ) Benefit for income taxes (50,484 ) — (50,484 ) Net loss $ (123,295 ) $ 2,302 $ (120,993 ) The impact of the adoption on the condensed consolidated balance sheets as of February 3, 2018 and April 29, 2017 is as follows: As of February 3, 2018 April 29, 2017 As reported Adjustments As adjusted As reported Adjustments As adjusted ASSETS Current assets: Cash and cash equivalents $ 107,066 $ — $ 107,066 $ 104,568 $ — $ 104,568 Merchandise inventories, net 292,489 — 292,489 324,977 — 324,977 Prepaid expenses and other current assets 83,228 9,120 92,348 72,489 7,137 79,626 Refundable income taxes 5,807 (4,185 ) 1,622 7,495 (3,644 ) 3,851 Total current assets 488,590 4,935 493,525 509,529 3,493 513,022 Property and equipment, net 289,441 — 289,441 344,503 — 344,503 Intangible assets, net 308,702 — 308,702 318,116 — 318,116 Goodwill 107,900 — 107,900 107,900 — 107,900 Other assets 6,374 — 6,374 5,530 — 5,530 Total assets $ 1,201,007 $ 4,935 $ 1,205,942 $ 1,285,578 $ 3,493 $ 1,289,071 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities: Accounts payable $ 232,480 $ — $ 232,480 $ 214,173 $ — $ 214,173 Other current liabilities 167,113 10,093 177,206 171,714 9,533 181,247 Due to Parent 38,210 — 38,210 29,290 — 29,290 Interest payable 21,914 — 21,914 5,091 — 5,091 Current portion of long-term debt 15,670 — 15,670 15,670 — 15,670 Total current liabilities 475,387 10,093 485,480 435,938 9,533 445,471 Long-term debt, net 1,697,812 — 1,697,812 1,487,736 — 1,487,736 Lease-related deferred credits, net 117,688 — 117,688 130,195 — 130,195 Deferred income taxes, net 29,486 (1,734 ) 27,752 97,614 (3,158 ) 94,456 Other liabilities 30,168 — 30,168 41,122 — 41,122 Total liabilities 2,350,541 8,359 2,358,900 2,192,605 6,375 2,198,980 Total stockholders’ deficit (1,149,534 ) (3,424 ) (1,152,958 ) (907,027 ) (2,882 ) (909,909 ) Total liabilities and stockholders’ deficit $ 1,201,007 $ 4,935 $ 1,205,942 $ 1,285,578 $ 3,493 $ 1,289,071 Disaggregation of Revenue A summary of disaggregated revenue is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 (As adjusted) J.Crew $ 391,864 $ 421,476 Madewell 115,842 83,380 Other(a) 32,744 20,911 Total revenues $ 540,450 $ 525,767 (a) Accounts Receivable from our Wholesale Customers A summary of accounts receivable, included in prepaid expenses and other current assets, with respect to our wholesale customers is as follows: May 5, 2018 February 3, 2018 Accounts receivable $ 31,884 $ 23,503 Less allowance for doubtful accounts (422 ) (312 ) Accounts receivable, net $ 31,462 $ 23,191 Contract Liabilities The Company recognizes a contract liability when it has received consideration from a customer and has a future performance obligation to transfer merchandise to the customer. The Company’s contract liabilities include (i) unredeemed gift cards and (ii) unredeemed loyalty program rewards. With respect to unredeemed gift cards, the Company is obligated to transfer merchandise in the future when a holder uses a gift card to make a purchase. The contract liability for gift cards is increased when customers purchase cards, and decreased when (i) a customer redeems the card or (ii) the Company estimates the gift card will go unredeemed (referred to as “breakage”). All of our gift cards do not have an expiration date, and are classified as a current liability. With respect to unearned loyalty program rewards, the Company is obligated to transfer merchandise to the customer upon accumulating points to certain thresholds. The contract liability for unearned loyalty program rewards is increased as certain customers make qualifying purchases, and decreased when (i) a customer achieves a threshold and a rewards card is issued or (ii) the expiration of accumulated points that did not reach a threshold. A rollforward of the liabilities for gift cards and loyalty program awards is as follows: Unredeemed Gift Cards Unredeemed Loyalty Program Rewards For the Thirteen Weeks Ended May 5, 2018 For the Thirteen Weeks Ended April 29, 2017 For the Thirteen Weeks Ended May 5, 2018 For the Thirteen Weeks Ended April 29, 2017 Balance at beginning of period $ 32,665 $ 34,698 $ 8,422 $ 8,420 Issuance of cards 13,220 13,614 — — Redemption of cards (15,963 ) (18,093 ) (7,463 ) (3,293 ) Recognition of estimated breakage (921 ) (1,200 ) (766 ) (1,964 ) Earning of loyalty program points — — 3,537 4,166 Other (119 ) (238 ) 184 86 Balance at end of period $ 28,882 $ 28,781 $ 3,914 $ 7,415

Debt Exchange and Refinancing

Debt Exchange and Refinancing	3 Months Ended
	May 05, 2018
Debt Disclosure [Abstract]
Debt Exchange and Refinancing	3. Debt Exchange and Refinancing Transaction Overview On July 13, 2017, the Parent and certain of its subsidiaries completed the following interrelated liability management transactions: • a private exchange offer (the “Exchange Offer”) pursuant to which $565.7 million aggregate principal amount of the outstanding 7.75%/8.50% Senior PIK Toggle Notes due 2019 (the “PIK Notes”) issued by Chinos Intermediate Holdings A, Inc., a direct wholly-owned subsidiary of the Parent (the “PIK Notes Issuer”), were exchanged for aggregate consideration consisting of: o $249,596,000 aggregate principal amount of 13% Senior Secured Notes due 2021 issued by J.Crew Brand, LLC and J.Crew Brand Corp. (the “Exchange Notes”) , which are secured primarily by the U.S. intellectual property assets held by J.Crew Domestic Brand, LLC (“IPCo”) o 189,688 shares of Parent’s 7% non-convertible perpetual series A preferred stock, no par value per share, with an aggregate initial liquidation preference of $189,688,000 (the “Series A Preferred Stock”); and o 15% of Parent’s common equity, or 17,362,719 shares of Parent’s class A common stock, $0.00001 par value per share (the “Class A Common Stock”); • the receipt of consents from the holders of a majority of the PIK Notes with respect to certain amendments to the indenture governing the PIK Notes; • completion of an amendment to the Company’s Amended and Restated Credit Agreement, dated as of March 5, 2014 (the “Term Loan Facility”) to, among other things, facilitate the following related transactions: o the repayment of $150.5 million principal amount of term loans then outstanding under the Term Loan Facility; o the transfer of the remaining undivided 27.96% ownership interest in the U.S. intellectual property rights of the J.Crew brand (the “Additional Transferred IP”) to IPCo, which, together with the undivided 72.04% ownership interest transferred in December 2016 (the “Initial Transferred IP”) represent 100% of the U.S. intellectual property rights of the J.Crew brand (the “Transferred IP”), and the execution of related license agreements; o the issuance of $97.0 million aggregate principal amount of an additional series of 13% Senior Secured Notes due 2021 by J.Crew Brand, LLC and J.Crew Brand Corp. (the “New Money Notes” and, together with the Exchange Notes, the “Notes”), subject to the same terms and conditions as the Exchange Notes, for cash at a 3% discount, subject to the terms of the note purchase agreement, dated June 12, 2017, the proceeds of which were loaned on a subordinated basis to the Company and were applied, in part, to finance the repayment of the $150.5 million principal amount of term loans referenced above; and o the raising of additional borrowings under the Term Loan Facility of $30.0 million (at a 2% discount) provided by the Company’s Sponsors (the “New Term Loan Borrowings”), the net proceeds of which were also applied, in part, to finance the repayment of the $150.5 million principal amount of term loans referenced above.

Management Services Agreement

Management Services Agreement	3 Months Ended
	May 05, 2018
Related Party Transactions [Abstract]
Management Services Agreement	4. Management Services Agreement Pursuant to a management services agreement entered into in connection with the Acquisition, and in exchange for ongoing consulting and management advisory services (the “Services”), the Sponsors received an aggregate annual monitoring fee prepaid quarterly equal to the greater of (i) 40 basis points of consolidated annual revenues or (ii) $8 million (in either case, the “Advisory Fee”). The Sponsors also receive reimbursement for out-of-pocket expenses incurred in connection with services provided pursuant to the agreement. On July 13, 2017, the management services agreement was amended and restated to require the Parent to provide the Services previously provided by the Sponsors. In addition to the amendment, the Parent and Sponsors entered into a new management services agreement, pursuant to which the Sponsors provide the Services to the Parent for an amount equal to the Advisory Fee less the accrued cash dividend in an amount equal to 5% of the liquidation preference on the outstanding Series A Preferred Stock of the Parent. The Company recorded an expense of $2.5 million and $2.4 million in the first quarter of fiscal 2018 and fiscal 2017, respectively, for monitoring fees and out-of-pocket expenses, included in selling, general and administrative expenses in the statements of operations and comprehensive loss.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	May 05, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets A summary of the components of intangible assets is as follows: Favorable Lease Commitments Madewell Trade Name Key Money J.Crew Trade Name Balance at February 3, 2018 $ 3,912 $ 53,642 $ 953 $ 250,195 Amortization expense (743 ) (1,025 ) (35 ) — Effect of changes in foreign exchange rates — — (39 ) — Balance at May 5, 2018 $ 3,169 $ 52,617 $ 879 $ 250,195 Total accumulated amortization or impairment losses at May 5, 2018 $ (57,841 ) $ (29,383 ) $ (3,938 ) $ (635,105 ) During the first quarter of fiscal 2017, the Company recorded a non-cash impairment charge of $129.8 million related to the intangible asset for the J.Crew trade name. The impairment losses were the result of the write-down of the following assets: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Intangible asset related to the J.Crew trade name $ — $ 129,800 Long-lived assets (see note 9) 6,866 1,357 Impairment losses $ 6,866 $ 131,157 The carrying value of goodwill of $107.9 million relates to the Madewell reporting unit. There is no remaining goodwill attributable to the J.Crew reporting unit, which has previously recorded accumulated impairment losses of $1,579.0 million. The carrying value of the J.Crew and Madewell trade names is $250.2 million and $52.6 million, respectively, at May 5, 2018. If revenues or operating results decline below the Company’s current expectations, additional impairment charges may be recorded in the future.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	May 05, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	6. Share-Based Compensation Chinos Holdings, Inc. 2011 Equity Incentive Plan On March 4, 2011, the Parent adopted the Chinos Holdings, Inc. 2011 Equity Incentive Plan (the “2011 Plan”). On July 13, 2017, in connection with a debt exchange and refinancing, the Parent completed a recapitalization of its outstanding equity. The recapitalization resulted in, among other things, a reverse stock split of the shares of common stock underlying the share-based awards issued by the Company. The reverse stock split of 10,000-to-1 resulted in (i) a substantial decrease in number of authorized awards from 91,740,627 shares to 9,174 shares and (ii) a substantial increase in the exercise price of $0.10 to $1,000 per share. The recapitalization included (i) the issuance of preferred stock of the Parent, including an authorization for equity awards to be granted up to 20,000 shares and (ii) the issuance of additional shares of common stock of the Parent, including an authorization for equity awards to be granted up to 13,003,295 shares. Additionally, on October 3, 2017, the Company authorized additional awards of 5,209,823 shares to be granted to its Chief Executive Officer in accordance with an employment agreement. The following disclosures are presented with respect to the newly authorized share-based awards only. A summary of share-based compensation recorded in the statements of operations and comprehensive loss is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Share-based compensation $ 46 $ 209 A summary of shares available for grant as stock options or other share-based awards, as adjusted for the reverse stock split, is as follows: Common Stock Awards Preferred Stock Awards Available for grant at February 3, 2018 13,018,649 20,000 Authorized — — Granted (8,749,186 ) — Forfeited and available for reissuance 163,238 — Available for grant at May 5, 2018 4,432,701 20,000

Long-Term Debt and Credit Agree

Long-Term Debt and Credit Agreements	3 Months Ended
	May 05, 2018
Debt Disclosure [Abstract]
Long-Term Debt and Credit Agreements	7. Long-Term Debt and Credit Agreements A summary of the components of long-term debt is as follows: May 5, 2018 February 3, 2018 Term Loan Facility $ 1,384,575 $ 1,388,258 Notes 346,596 346,596 Less current portion of Term Loan (15,670 ) (15,670 ) Less deferred financing costs (13,731 ) (14,879 ) Less discount (5,998 ) (6,493 ) Long-term debt, net $ 1,695,772 $ 1,697,812 Borrowings under the ABL Facility $ 41,561 $ — ABL Facility The Company has an ABL Facility, which is governed by a credit agreement with Bank of America, N.A., as administrative agent and the other agents and lenders party thereto, that provides for a $350 million senior secured asset-based revolving line of credit (which may be increased by up to $100 million in certain circumstances), subject to a borrowing base limitation. The ABL Facility includes borrowing capacity in the form of letters of credit up to $200 million, and up to $25 million in U.S. dollars for loans on same-day notice, referred to as swingline loans, and is available in U.S. dollars, Canadian dollars and Euros. Any amounts outstanding under the ABL Facility are due and payable in full on the maturity date of November 17, 2021. On May 5, 2018, standby letters of credit were $44.2 million, outstanding borrowings were $41.6 million, and excess availability, as defined, was $218.6 million. The weighted average interest rate on the borrowings outstanding under the ABL Facility was 5.00% on May 5, 2018. Average short-term borrowings under the ABL Facility were $30.5 million in the first quarter of fiscal 2018. There were no average short-term borrowings under the ABL Facility in the first quarter of fiscal 2017. Demand Letter of Credit Facility The Company has an unsecured demand letter of credit facility with HSBC which provides for the issuance of up to $20 million of documentary letters of credit on a no fee basis. On May 5, 2018, outstanding documentary letters of credit were $16.1 million and availability under this facility was $3.9 million. Term Loan Facility 2017 Amendment. On July 13, 2017, concurrently with the settlement of the Exchange Offer, the Company amended its Term Loan Facility to, among other things, (i) increase the interest rate applicable to the loans held by consenting lenders, which represented 88% of lenders, (the “Consenting Lenders”; and the loans held by the Consenting Lenders, the “Amended Loans”) by 22 basis points, (ii) increase the amount of amortization payable to Consenting Lenders, (iii) provide for the New Term Loan Borrowings of $30.0 million, (iv) amend certain covenants and events of default and (v) direct Wilmington Savings Fund Society, FSB, as administrative agent under the Term Loan Facility, to dismiss, with prejudice, certain litigation regarding the Initial Transferred IP (and the related actions). Additionally, the Company repaid $150.5 million of principal amount of term loans outstanding under the Term Loan Facility, which was financed with (i) the net proceeds from the New Money Notes of $94.1 million, (ii) the net proceeds from the New Term Loan Borrowings of $29.4 million and (iii) cash on hand of $27.0 million. Interest Rate. The weighted average interest rate on the borrowings outstanding under the Term Loan Facility was 5.52% on May 5, 2018. The applicable margin (i) in effect for base rate borrowings was, (x) in the case of term loans, other than the New Term Loan Borrowings and the Amended Loans, 2.00%, (y) in the case of the Amended Loans, 2.22% and (z) in the case of the New Term Loan Borrowings, 12.00% (of which 3.00% is payable in kind) and (ii) with respect to LIBOR borrowings was, (x) in the case of term loans, other than the New Term Loan Borrowings and the Amended Loans, 3.00% and the LIBOR Floor, (y) in the case of the Amended Loans, 3.22% and the LIBOR Floor and (z) in the case of the New Term Loan Borrowings, 12.00% (of which 3.00% is payable in kind), respectively, at May 5, 2018. Principal Repayments. The Company is required to make principal repayments equal to 0.25% of the original principal amount of the Term Loan Facility (excluding the New Term Loan Borrowings), or $3.9 million, on the last business day of January, April, July, and October. The Company is also required (i) to repay the term loan based on an annual calculation of excess cash flow, as defined in the agreement, (ii) in the second quarter of fiscal 2019, to make a principal repayment of $11.9 million which is equal to 1.00% of the aggregate principal amount of Amended Loans outstanding on July 13, 2017 and (iii) beginning on July 31, 2019, on the last business day of January, April, July and October, to make additional principal repayments of $1.5 million equal to 0.125% of the aggregate principal amount of Amended Loans outstanding on July 13, 2017. The maturity date of the Term Loan Facility is March 5, 2021. Notes General. On July 13, 2017, in connection with settlement of the Exchange Offer and the issuance of the Notes, J.Crew Brand, LLC and J.Crew Brand Corp. (together, the “Notes Co-Issuers”) and the Guarantors (as defined below) entered into (i) an indenture with U.S. Bank National Association, as Trustee and collateral agent, governing the terms of the Exchange Notes (the “Exchange Notes Indenture”) and (ii) an indenture with the Trustee and U.S. Bank, as collateral agent, governing the terms of the New Money Notes (the “New Money Notes Indenture”), which is in substantially the same form as the Exchange Notes Indenture. Interest Rate. The Notes bear interest at a rate of 13% per annum, and interest is payable semi-annually on March 15 and September 15 of each year. The Notes mature on September 15, 2021. Notes Guarantee. The Notes are guaranteed by J.Crew Brand Intermediate, LLC, IPCo and J.Crew International Brand, LLC, each of which is a Delaware limited liability company and a wholly-owned indirect subsidiary of the Company (collectively, the “Guarantors,” and each, a “Guarantor”). The PIK Notes Issuer also unconditionally guarantees the payment obligations of the Notes Co-Issuers and the Guarantors. Exchange Notes Collateral. The Exchange Notes and the guarantees thereof are general senior secured obligations of the Notes Co-Issuers and the Guarantors, secured on a first priority lien basis by the Initial Transferred IP and certain other assets of the Notes Co-Issuers and Guarantors, and on a second priority lien basis by the Additional Transferred IP, subject, in each case, to permitted liens under the Exchange Notes Indenture and that certain intercreditor agreement, entered into between the collateral agents on July 13, 2017. New Money Notes Collateral. The New Money Notes and the guarantees thereof are general senior secured obligations of the Notes Co-Issuers and the Guarantors, secured on a first priority lien basis by the Additional Transferred IP and certain other assets, and on a second priority lien basis by the Initial Transferred IP, subject, in each case, to permitted liens under the New Money Notes Indenture and the intercreditor agreement. Redemption . The Notes are redeemable at the option of the Notes Co-Issuers, in whole or in part, at any time, at a price equal to one hundred percent (100%) of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a “make whole” premium. The Notes are not subject to any mandatory redemption obligation, and there is no sinking fund provided for the Notes. Change in Control . Upon the occurrence of a Change of Control (as defined in each of the indentures, as applicable), the Notes Co-Issuers will be required to offer to repay all of the Notes at 100% of the aggregate principal amount repaid plus accrued and unpaid interest, if any, to, but not including, the date of purchase. Covenants. Each of the indentures contains covenants covering (i) the payment of principal and interest, (ii) maintenance of an office or agency for the payment of the Notes, (iii) reports to the applicable Trustee and holders of the Notes, (iv) stay, extension and usury laws, (v) payment of taxes, (vi) existence, (vii) maintenance of properties and (viii) maintenance of insurance. Each of the indentures relating to the Notes also includes covenants that (i) limit the ability to transfer the collateral and (ii) limit liens that may be imposed on the assets of the Guarantors, which covenants are, in each case, subject to certain exceptions set forth in each of the indentures. Interest expense A summary of the components of interest expense is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Term Loan Facility $ 18,383 $ 15,507 Notes 11,264 — Amortization of deferred financing costs and debt discount 1,790 1,227 Realized hedging losses 1,355 3,056 Other interest, net of interest income 190 646 Interest expense, net $ 32,982 $ 20,436

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	May 05, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	8. Derivative Financial Instruments In August 2014, the Company entered into interest rate cap and swap agreements that limit exposure to interest rate increases on a portion of the Company’s floating rate indebtedness. The interest rate cap agreements covered notional amounts of $400 million and capped LIBOR at 2.00% from March 2015 to March 2016. The interest rate swap agreements cover a notional amount of $800 million from March 2016 to March 2019 and carry a fixed rate of 2.56% plus the applicable margin. The Company designated the interest rate swap agreements as cash flow hedges. As cash flow hedges, unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The effective portion of such gains or losses is recorded as a component of accumulated other comprehensive loss, while the ineffective portion of such gains or losses is recorded as a component of interest expense. Future realized gains and losses in connection with each required interest payment will be reclassified from accumulated other comprehensive loss to interest expense. The fair values of the interest rate swap agreements are estimated using industry standard valuation models using market-based observable inputs, including interest rate curves (level 2 inputs). Liabilities for interest rate swaps, included in other liabilities, were $0.7 million and $4.3 million at May 5, 2018 and February 3, 2018, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 05, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs, other than quoted prices included in Level 1, such as quoted prices for markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. Financial assets and liabilities The fair value of the Company’s long-term debt was estimated to be $1,457 million and $1,388 million at May 5, 2018 and February 3, 2018, respectively, based on quoted market prices of the debt (level 1 inputs). The Company’s interest rate swap agreements are measured in the financial statements at fair value on a recurring basis. See note 8 for more information regarding the fair value of this financial liability. The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts payable and other current liabilities approximate fair value because of their short-term nature. Non-financial assets and liabilities Certain non-financial assets, including goodwill, the intangible asset for the J.Crew trade name, and certain long-lived assets, have been written down and measured in the financial statements at fair value. The Company does not have any other non-financial assets or liabilities as of May 5, 2018 or February 3, 2018 that are measured on a recurring basis in the financial statements at fair value. The Company assesses the recoverability of goodwill and intangibles whenever there are indicators of impairment, or at least annually in the fourth quarter. If the recorded carrying value of an intangible asset exceeds its fair value, the Company records a charge to write-down the intangible asset to its fair value. Impairment charges of goodwill are based on fair value measurements derived using a combination of an income approach, specifically the discounted cash flow, a market approach, and a transaction approach. Impairment charges of intangible assets are based on fair value measurements derived using an income approach, specifically the relief from royalty method, which is a revenue and royalty rate approach. The valuation methodologies incorporate unobservable inputs reflecting significant estimates and assumptions made by management (level 3 inputs). For more information related to goodwill and intangible asset impairment charges, see note 5. The Company performs impairment tests of certain long-lived assets whenever there are indicators of impairment. These tests typically contemplate assets at a store level (for example, leasehold improvements) or at the corporate level (for example, software). The Company recognizes an impairment loss when the carrying value of a long-lived asset is not recoverable in light of the undiscounted future cash flows and measures an impairment loss as the difference between the carrying amount and fair value of the asset based on discounted future cash flows. The Company has determined that the future cash flow approach (level 3 inputs) provides the most relevant and reliable means by which to determine fair value in this circumstance. A summary of the impact of the impairment of certain long-lived assets on financial condition and results of operations is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Carrying value of long-term assets written down to fair value $ 6,866 $ 1,357 Impairment charge $ 6,866 $ 1,357

Income Taxes

Income Taxes	3 Months Ended
	May 05, 2018
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes On December 22, 2017, H.R.1, or the Tax Cuts and Jobs Act (“Tax Reform”) was signed into law. Among its many provisions, Tax Reform substantially reduced the Company’s ability to deduct all of its interest expense in fiscal 2018. The inability to deduct all of its interest expense will generate a significant carry forward of unutilized interest deductions. The Company is not forecasting future taxable income sufficient to utilize the carry forward. Therefore, the Company has recognized a valuation allowance with respect to the deferred tax asset related to the carry forward of unutilized interest deductions. In the first quarter of fiscal 2018, the Company recorded a provision for income taxes of $49, which reflects a charge for the valuation allowance with respect to the deferred tax asset related to the carry forward of unutilized interest deductions. Other items impacting the provision for income taxes include the recognition of international valuation allowances, lower rates in foreign jurisdictions, and reserves for uncertain tax positions. In the first quarter of fiscal 2017, the Company recognized a deferred tax benefit of $51.8 million, primarily a result of the reversal of deferred taxes related to the intangible asset for the J.Crew trade name, which was written down by $129.8 million in the first quarter. The Company did not recognize any additional deferred tax benefit on other operating losses due to an increase in the valuation allowance. Not recognizing tax benefit on the Company’s other operating losses was the primary driver of the difference between the statutory rate of 35% to the effective rate of 29% for the quarter. The Company regularly assesses the need for a valuation allowance related to its deferred tax assets. In making that assessment, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets to determine, based on a weighing process of available evidence, whether it is more-likely-than-not that its deferred tax assets will not be realized. As of May 5, 2018, the Company maintains valuation allowances against its deferred tax assets related to (i) the carry forward of unutilized interest deductions, (ii) carry forwards of net operating losses of its international subsidiaries and (iii) temporary differences deductible in certain states that did not adopt Tax Reform, and therefore interest expense currently remains fully deductible in those jurisdictions. The federal tax returns for the periods ended January 2013 through January 2016 are currently under examination. Various state and local jurisdiction tax authorities are in the process of examining income tax returns or hearing appeals for certain tax years ranging from 2009 to 2014. The results of these audits and appeals are not expected to have a significant effect on the results of operations or financial position. While the Company expects the amount of unrecognized tax benefits to change in the next 12 months, the change is not expected to have a significant effect on the results of operations or financial position. However, the outcome of tax matters is uncertain and unforeseen results can occur.

Legal Proceedings

Legal Proceedings	3 Months Ended
	May 05, 2018
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	11. Legal Proceedings The Company is subject to various legal proceedings and claims arising in the ordinary course of business. Management does not expect that the results of any of these legal proceedings, either individually or in the aggregate, would have a material effect on the Company’s financial position, results of operations or cash flows. As of May 5, 2018, the Company has recorded a reserve for certain legal contingencies in connection with ongoing claims and litigation. The reserve is not material to its results of operations. In addition, there are certain other claims and legal proceedings pending against the Company for which accruals have not been established. Eaton Vance Management, et al. v. Wilmington Savings Fund Society, FSB, as Administrative Agent and Collateral Agent, et al., Index No. 654397/2017, (Sup. Ct. N.Y. C’ty.). On June 22, 2017, Eaton Vance Management and certain affiliated funds as well as Highland Capital Management and certain affiliated funds (collectively, the “Highland/EV Plaintiffs”), filed a complaint in the New York State Supreme Court, Commercial Division, against the Company and WSFS, seeking, among other things, declarations that the July 13, 2017 Amendment to the Term Loan Facility was ineffective absent unanimous consent of all lenders under the facility, that certain of the Company’s actions with respect to certain of its intellectual property assets were taken in violation of the terms of the Term Loan Facility, and that those actions also constitute fraudulent conveyances. On August 7, 2017, WSFS and the Company filed separate motions to dismiss certain of the Highland/EV Plaintiffs’ claims for failure to state a claim and lack of standing, among other reasons. On September 7, 2017, the Highland/EV Plaintiffs filed an amended complaint in the New York State Supreme Court, Commercial Division, against the Company and WSFS. The amended complaint continues to assert claims for breach of the terms of the Term Loan Facility, and for fraudulent conveyance and adds an additional claim for fraudulent inducement against the Company. The Company believes that the Highland/EV Plaintiffs’ claims asserted in the amended complaint are wholly without merit, and intends to vigorously oppose these claims. In response to the amended complaint, WSFS and the Company withdrew their prior motions to dismiss and, on October 20, 2017, filed renewed motions seeking dismissal in whole or part. Among other things, the Company seeks dismissal of the amended complaint for failure to state a claim, lack of standing, and because its fraud claims are duplicative of the Highland/EV Plaintiffs’ claims under the documents governing the Term Loan Facility. The Highland/EV Plaintiffs filed an omnibus brief on December 1, 2017 opposing the motions to dismiss. The Company and WSFS each filed reply briefs on December 22, 2017 reiterating that the majority of the Highland/EV Plaintiffs’ claims should be dismissed as a matter of law. Oral argument on the motions to dismiss occurred on March 8, 2018. On April 25, 2018, the judge issued a Memorandum Decision and Order, which granted the Company’s partial motion to dismiss in its entirety and dismissed as a matter of law the majority of the Highland/EV Plaintiffs’ claims with prejudice. The Highland/EV Plaintiffs’ sole remaining claim is for breach of contract based on the theory that the July 13, 2017 Amendment to the Term Loan Facility required unanimous consent of all lenders under the facility.

Workforce Reductions

Workforce Reductions	3 Months Ended
	May 05, 2018
Workforce Reduction Disclosure [Abstract]
Workforce Reductions	12. Workforce Reductions The Company executed various strategic changes including the eliminations of: (i) approximately 150 full-time and 100 open positions, primarily from its corporate headquarters, and (ii) approximately 600 full-time store positions, in the first quarter of fiscal 2017 and fiscal 2018, respectively. A rollforward of the reserve for severance and related costs is as follows: Severance & Related Costs Balance at February 3, 2018 $ 3,543 Provisions charged to expense 3,288 Payments (4,700 ) Balance at May 5, 2018 $ 2,131 The Company expects the unpaid severance at May 5, 2018 to be paid through the fourth quarter of fiscal 2018.

Related Party Transactions

Related Party Transactions	3 Months Ended
	May 05, 2018
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions Intellectual property license agreements In October 2016, the Company formed wholly-owned indirect subsidiaries, including IPCo and J.Crew Brand, LLC (collectively, “J.Crew BrandCo”). In December 2016, J.Crew International, Inc. (“JCI”) transferred an undivided 72.04% ownership interest in the U.S. intellectual property rights of the J.Crew brand to IPCo, and entered into a related intellectual property license agreement with IPCo. In July 2017, JCI transferred the remaining undivided 27.96% ownership interest in the U.S. intellectual property rights of the J.Crew brand to IPCo, which, together with the initial intellectual property contributed in December 2016, represent 100% of the U.S. intellectual property rights of the J.Crew brand, entered into a license agreement amending and restating the December 2016 license agreement with IPCo and entered into an additional intellectual property license agreement with IPCo (collectively, the “IP License Agreements”). Under the IP License Agreements, J.Crew Operating Corp. (“OpCo”), a direct wholly-owned subsidiary of the Company, pays a fixed license fee of $59 million per annum to IPCo, which owns the U.S. intellectual property rights of the J.Crew brand. The license fees are payable on March 1 and September 1 of each fiscal year. These royalty payments have no impact on the Company’s condensed consolidated results of operations and are not subject to the covenants under the Company’s credit facilities or the PIK Notes. The proceeds from the license fees to IPCo are used by J.Crew BrandCo to meet debt service requirements on the Notes. Any license fees in excess of the debt service requirements are loaned back to OpCo on a subordinated basis. As of May 5, 2018, J.Crew BrandCo had total assets of $381.3 million, consisting of intangible assets of $250.2 million, receivable due from OpCo of $121.0 million, license fee receivable of $9.8 million and cash and cash equivalents of $0.3 million, and total liabilities of $345.4 million related to the Notes. For the thirteen weeks ended May 5, 2018, IPCo earned royalty revenue of $14.8 million. The Notes are guaranteed by the intangible assets of J.Crew BrandCo. Chinos Intermediate Holdings A, Inc. Senior PIK Toggle Note On November 4, 2013, the PIK Notes Issuer, which is an indirect parent holding company of Group, issued $500 million of PIK Notes. The PIK Notes were: (i) senior unsecured obligations of the PIK Notes Issuer, (ii) structurally subordinated to all of the liabilities of the PIK Notes Issuers’ subsidiaries, and (iii) not guaranteed by any of the PIK Notes Issuers’ subsidiaries, and therefore are not recorded in the Company’s financial statements. As part of the refinancing in July 2017, $565.7 million in aggregate principal amount of the PIK Notes were exchanged for $249.6 million of Exchange Notes and shares of preferred and common stock of the Parent. As of May 5, 2018, there were $0.9 million in aggregate principal amount of PIK Notes outstanding. For more information on the Exchange Offer, see note 3. The PIK Notes were not guaranteed by any of the PIK Notes Issuer’s subsidiaries, and therefore were not recorded in the Company’s financial statements. The Exchange Notes, however, are guaranteed by the Company’s subsidiaries, and therefore are recorded in its financial statements. In connection with recognizing the Exchange Notes, the Company recorded a non-cash contribution to its Parent as a reduction of additional paid-in capital. For more information on the long-term debt of the Company, see note 7. Due to Sponsors As part of the debt refinancing, the Sponsors purchased $30.0 million principal amount of new term loans under the Term Loan Facility. For more information on the New Term Loan Borrowings, see note 7. Due to Parent Certain transactions, primarily related to income taxes, between Group and its Parent give rise to intercompany receivables and payables. A summary of the components of Due to Parent is as follows: May 5, 2018 February 3, 2018 Income taxes payable to Parent $ (49,888 ) $ (49,888 ) Monitoring fees payable (487 ) (1,446 ) Payment of certain transaction costs on behalf of Parent 13,124 13,124 Due to Parent $ (37,251 ) $ (38,210 )

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	May 05, 2018
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	14. Recent Accounting Pronouncements In February 2016, a pronouncement was issued that requires lessees to recognize assets and liabilities in the amount of the present value of future lease payments for leases with terms of more than 12 months. The pronouncement is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of the new pronouncement on its condensed consolidated financial statements. However, the adoption is expected to have a material impact on its balance sheet. As an indicator of magnitude, as of February 3, 2018, the Company has committed to future minimum lease payments through 2028 of approximately $900 million, on an undiscounted basis. However, minimum lease payments are expected to change during the period prior to the date of adoption due to a number of factors including the opening, closing, renewing, and renegotiating of store and corporate leases. In January 2017, a pronouncement was issued that simplifies the measurement of goodwill impairment by no longer requiring an entity to perform a hypothetical purchase price allocation. Instead, impairment will be measured using the difference between the carrying amount and the fair value of the reporting unit. The pronouncement is effective for annual and interim periods in fiscal years beginning after December 15, 2019. The Company does not expect there to be a significant impact on its condensed consolidated financial statements. In August 2017, a pronouncement was issued that simplifies the application of hedge accounting guidance and more closely aligns risk management activities and financial reporting. The pronouncement is effective for annual and interim periods in fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of the new pronouncement on its condensed consolidated financial statements. In February 2018, a pronouncement was issued that will permit entities to reclassify tax effects stranded in accumulated other comprehensive income, as a result of tax reform, to retained earnings. The pronouncement is effective for annual and interim periods in fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of the new pronouncement on its condensed consolidated financial statements.

Subsequent Event

Subsequent Event	3 Months Ended
	May 05, 2018
Subsequent Events [Abstract]
Subsequent Event	15. Subsequent Event On May 10, 2018, the Company entered into a lease amendment and surrender agreement (the “Surrender Agreement”) with Vornado Office Management, LLC (“Vornado”). The terms of the Surrender Agreement provide for, among other things, the early termination and surrender of the space currently occupied by the Company as its corporate headquarters at 770 Broadway in New York City. In exchange for the surrender, Vornado agreed to pay the Company a termination payment of $35 million. The Company plans to be fully vacated from its current corporate headquarters by June 30, 2019, and expects to collect the termination payment in installments through such date. The Company will recognize the benefit of $35 million, as a reduction of selling, general and administrative expense, over the period starting May 10, 2018 until June 30, 2019. Additionally, concurrent with the entry into the Surrender Agreement, the Company entered into a sublease of new corporate office space at 225 Liberty Street in New York City. The sublease provides for, among other things, a 16-year occupancy of 325,000 square feet of office space in lower Manhattan with aggregate base rent of $272 million, net of free rent. The Company plans to begin relocating to the new corporate office space in August 2018 and the Company expects to reinvest a significant portion of the termination payment of $35 million into the new corporate office space. As a result of the move, the Company expects pre-tax rent savings of approximately $4 million in fiscal 2018.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	May 05, 2018
Summary of Disaggregated Revenue	A summary of disaggregated revenue is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 (As adjusted) J.Crew $ 391,864 $ 421,476 Madewell 115,842 83,380 Other(a) 32,744 20,911 Total revenues $ 540,450 $ 525,767 (a)
Summary of Accounts Receivable Included in Prepaid Expenses and Other Current Assets with Respect to Wholesale Customers	A summary of accounts receivable, included in prepaid expenses and other current assets, with respect to our wholesale customers is as follows: May 5, 2018 February 3, 2018 Accounts receivable $ 31,884 $ 23,503 Less allowance for doubtful accounts (422 ) (312 ) Accounts receivable, net $ 31,462 $ 23,191
Rollforward of Liabilities For Gift Cards and Loyalty Program Awards	A rollforward of the liabilities for gift cards and loyalty program awards is as follows: Unredeemed Gift Cards Unredeemed Loyalty Program Rewards For the Thirteen Weeks Ended May 5, 2018 For the Thirteen Weeks Ended April 29, 2017 For the Thirteen Weeks Ended May 5, 2018 For the Thirteen Weeks Ended April 29, 2017 Balance at beginning of period $ 32,665 $ 34,698 $ 8,422 $ 8,420 Issuance of cards 13,220 13,614 — — Redemption of cards (15,963 ) (18,093 ) (7,463 ) (3,293 ) Recognition of estimated breakage (921 ) (1,200 ) (766 ) (1,964 ) Earning of loyalty program points — — 3,537 4,166 Other (119 ) (238 ) 184 86 Balance at end of period $ 28,882 $ 28,781 $ 3,914 $ 7,415
Adoption of ASU 2014-09
Summary of Impact of Adoption on Condensed Consolidated Statement of Operations and Condensed Consolidated Balance Sheets	The impact of adoption on the condensed consolidated statement of operations for the previous two fiscal years is as follows: For the Year Ended February 3, 2018 January 28, 2017 As reported Adjustments As adjusted As reported Adjustments As adjusted Revenues: Net sales $ 2,270,190 $ (2,380 ) $ 2,267,810 $ 2,359,622 $ 388 $ 2,360,010 Other 99,928 5,957 105,885 65,840 5,745 71,585 Total revenues 2,370,118 3,577 2,373,695 2,425,462 6,133 2,431,595 Cost of goods sold, including buying and occupancy costs 1,477,943 (1,879 ) 1,476,064 1,550,185 120 1,550,305 Gross profit 892,175 5,456 897,631 875,277 6,013 881,290 Selling, general and administrative expenses 870,950 1,731 872,681 818,546 5,744 824,290 Impairment losses 141,187 — 141,187 7,752 — 7,752 Income (loss) from operations (119,962 ) 3,725 (116,237 ) 48,979 269 49,248 Interest expense, net 110,513 — 110,513 79,359 — 79,359 Loss on refinancings — — — 435 — 435 Loss before income taxes (230,475 ) 3,725 (226,750 ) (30,815 ) 269 (30,546 ) Benefit for income taxes (105,516 ) 1,965 (103,551 ) (7,301 ) 486 (6,815 ) Net loss $ (124,959 ) $ 1,760 $ (123,199 ) $ (23,514 ) $ (217 ) $ (23,731 ) The impact of the adoption on the condensed consolidated statement of operations for the first quarter of fiscal 2017 is as follows: For the Thirteen Weeks Ended April 29, 2017 As reported Adjustments As adjusted Revenues: Net sales $ 513,180 $ (8,324 ) $ 504,856 Other 18,786 2,125 20,911 Total revenues 531,966 (6,199 ) 525,767 Cost of goods sold, including buying and occupancy costs 343,729 (8,561 ) 335,168 Gross profit 188,237 2,362 190,599 Selling, general and administrative expenses 210,423 60 210,483 Impairment losses 131,157 — 131,157 Loss from operations (153,343 ) 2,302 (151,041 ) Interest expense, net 20,436 — 20,436 Loss before income taxes (173,779 ) 2,302 (171,477 ) Benefit for income taxes (50,484 ) — (50,484 ) Net loss $ (123,295 ) $ 2,302 $ (120,993 ) The impact of the adoption on the condensed consolidated balance sheets as of February 3, 2018 and April 29, 2017 is as follows: As of February 3, 2018 April 29, 2017 As reported Adjustments As adjusted As reported Adjustments As adjusted ASSETS Current assets: Cash and cash equivalents $ 107,066 $ — $ 107,066 $ 104,568 $ — $ 104,568 Merchandise inventories, net 292,489 — 292,489 324,977 — 324,977 Prepaid expenses and other current assets 83,228 9,120 92,348 72,489 7,137 79,626 Refundable income taxes 5,807 (4,185 ) 1,622 7,495 (3,644 ) 3,851 Total current assets 488,590 4,935 493,525 509,529 3,493 513,022 Property and equipment, net 289,441 — 289,441 344,503 — 344,503 Intangible assets, net 308,702 — 308,702 318,116 — 318,116 Goodwill 107,900 — 107,900 107,900 — 107,900 Other assets 6,374 — 6,374 5,530 — 5,530 Total assets $ 1,201,007 $ 4,935 $ 1,205,942 $ 1,285,578 $ 3,493 $ 1,289,071 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities: Accounts payable $ 232,480 $ — $ 232,480 $ 214,173 $ — $ 214,173 Other current liabilities 167,113 10,093 177,206 171,714 9,533 181,247 Due to Parent 38,210 — 38,210 29,290 — 29,290 Interest payable 21,914 — 21,914 5,091 — 5,091 Current portion of long-term debt 15,670 — 15,670 15,670 — 15,670 Total current liabilities 475,387 10,093 485,480 435,938 9,533 445,471 Long-term debt, net 1,697,812 — 1,697,812 1,487,736 — 1,487,736 Lease-related deferred credits, net 117,688 — 117,688 130,195 — 130,195 Deferred income taxes, net 29,486 (1,734 ) 27,752 97,614 (3,158 ) 94,456 Other liabilities 30,168 — 30,168 41,122 — 41,122 Total liabilities 2,350,541 8,359 2,358,900 2,192,605 6,375 2,198,980 Total stockholders’ deficit (1,149,534 ) (3,424 ) (1,152,958 ) (907,027 ) (2,882 ) (909,909 ) Total liabilities and stockholders’ deficit $ 1,201,007 $ 4,935 $ 1,205,942 $ 1,285,578 $ 3,493 $ 1,289,071

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	May 05, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Components of Intangible Assets and Goodwill	A summary of the components of intangible assets is as follows: Favorable Lease Commitments Madewell Trade Name Key Money J.Crew Trade Name Balance at February 3, 2018 $ 3,912 $ 53,642 $ 953 $ 250,195 Amortization expense (743 ) (1,025 ) (35 ) — Effect of changes in foreign exchange rates — — (39 ) — Balance at May 5, 2018 $ 3,169 $ 52,617 $ 879 $ 250,195 Total accumulated amortization or impairment losses at May 5, 2018 $ (57,841 ) $ (29,383 ) $ (3,938 ) $ (635,105 )
Summary of Aggregate Impairment Losses	The impairment losses were the result of the write-down of the following assets: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Intangible asset related to the J.Crew trade name $ — $ 129,800 Long-lived assets (see note 9) 6,866 1,357 Impairment losses $ 6,866 $ 131,157

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	May 05, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation Recorded in Statements of Operations	A summary of share-based compensation recorded in the statements of operations and comprehensive loss is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Share-based compensation $ 46 $ 209
Shares Available for Grant as Stock Options or Other Share-Based Awards, as Adjusted for Reverse Stock Split	A summary of shares available for grant as stock options or other share-based awards, as adjusted for the reverse stock split, is as follows: Common Stock Awards Preferred Stock Awards Available for grant at February 3, 2018 13,018,649 20,000 Authorized — — Granted (8,749,186 ) — Forfeited and available for reissuance 163,238 — Available for grant at May 5, 2018 4,432,701 20,000

Long-Term Debt and Credit Agr25

Long-Term Debt and Credit Agreements (Tables)	3 Months Ended
	May 05, 2018
Debt Disclosure [Abstract]
Summary of Components of Long-Term Debt	A summary of the components of long-term debt is as follows: May 5, 2018 February 3, 2018 Term Loan Facility $ 1,384,575 $ 1,388,258 Notes 346,596 346,596 Less current portion of Term Loan (15,670 ) (15,670 ) Less deferred financing costs (13,731 ) (14,879 ) Less discount (5,998 ) (6,493 ) Long-term debt, net $ 1,695,772 $ 1,697,812 Borrowings under the ABL Facility $ 41,561 $ —
Summary of Components of Interest Expense	A summary of the components of interest expense is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Term Loan Facility $ 18,383 $ 15,507 Notes 11,264 — Amortization of deferred financing costs and debt discount 1,790 1,227 Realized hedging losses 1,355 3,056 Other interest, net of interest income 190 646 Interest expense, net $ 32,982 $ 20,436

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 05, 2018
Fair Value Disclosures [Abstract]
Summary of Impairment of Certain Long-Lived Assets	A summary of the impact of the impairment of certain long-lived assets on financial condition and results of operations is as follows: For the Thirteen Weeks Ended May 5, 2018 April 29, 2017 Carrying value of long-term assets written down to fair value $ 6,866 $ 1,357 Impairment charge $ 6,866 $ 1,357

Workforce Reductions (Tables)

Workforce Reductions (Tables)	3 Months Ended
	May 05, 2018
Workforce Reduction Disclosure [Abstract]
Schedule of Reserve for Severance and Related Costs	A rollforward of the reserve for severance and related costs is as follows: Severance & Related Costs Balance at February 3, 2018 $ 3,543 Provisions charged to expense 3,288 Payments (4,700 ) Balance at May 5, 2018 $ 2,131

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	May 05, 2018
Fair Value Disclosures [Abstract]
Summary of the Components of Due to Parent	Certain transactions, primarily related to income taxes, between Group and its Parent give rise to intercompany receivables and payables. A summary of the components of Due to Parent is as follows: May 5, 2018 February 3, 2018 Income taxes payable to Parent $ (49,888 ) $ (49,888 ) Monitoring fees payable (487 ) (1,446 ) Payment of certain transaction costs on behalf of Parent 13,124 13,124 Due to Parent $ (37,251 ) $ (38,210 )

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) $ in Millions	3 Months Ended
	May 05, 2018Source	Jan. 31, 2016USD ($)
Revenue From Contract With Customer [Abstract]
Number of sources of revenue | Source	3
Cumulative effect | $		$ 5

Revenue Recognition - Summary o

Revenue Recognition - Summary of Impact of Adoption on Condensed Consolidated statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	May 05, 2018	Apr. 29, 2017	Feb. 03, 2018	Jan. 28, 2017
Revenues:
Net sales	$ 507,706	$ 504,856	$ 2,267,810	$ 2,360,010
Other	32,744	20,911	105,885	71,585
Total revenues	540,450	525,767	2,373,695	2,431,595
Cost of goods sold, including buying and occupancy costs	333,642	335,168	1,476,064	1,550,305
Gross profit	206,808	190,599	897,631	881,290
Selling, general and administrative expenses	200,836	210,483	872,681	824,290
Impairment losses	6,866	131,157	141,187	7,752
Loss from operations	(894)	(151,041)	(116,237)	49,248
Interest expense, net	32,982	20,436	110,513	79,359
Loss on refinancings				435
Loss before income taxes	(33,876)	(171,477)	(226,750)	(30,546)
Benefit for income taxes	49	(50,484)	(103,551)	(6,815)
Net loss	$ (33,925)	(120,993)	(123,199)	(23,731)
As Reported | Adoption of ASU 2014-09
Revenues:
Net sales		513,180	2,270,190	2,359,622
Other		18,786	99,928	65,840
Total revenues		531,966	2,370,118	2,425,462
Cost of goods sold, including buying and occupancy costs		343,729	1,477,943	1,550,185
Gross profit		188,237	892,175	875,277
Selling, general and administrative expenses		210,423	870,950	818,546
Impairment losses		131,157	141,187	7,752
Loss from operations		(153,343)	(119,962)	48,979
Interest expense, net		20,436	110,513	79,359
Loss on refinancings				435
Loss before income taxes		(173,779)	(230,475)	(30,815)
Benefit for income taxes		(50,484)	(105,516)	(7,301)
Net loss		(123,295)	(124,959)	(23,514)
Adjustments | Adoption of ASU 2014-09
Revenues:
Net sales		(8,324)	(2,380)	388
Other		2,125	5,957	5,745
Total revenues		(6,199)	3,577	6,133
Cost of goods sold, including buying and occupancy costs		(8,561)	(1,879)	120
Gross profit		2,362	5,456	6,013
Selling, general and administrative expenses		60	1,731	5,744
Loss from operations		2,302	3,725	269
Loss before income taxes		2,302	3,725	269
Benefit for income taxes			1,965	486
Net loss		$ 2,302	$ 1,760	$ (217)

Revenue Recognition - Summary31

Revenue Recognition - Summary of Impact of Adoption on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017	Jan. 28, 2017
Current assets:
Cash and cash equivalents	$ 36,038	$ 107,066	$ 104,568	$ 132,226
Merchandise inventories, net	345,254	292,489	324,977
Prepaid expenses and other current assets	93,685	92,348	79,626
Refundable income taxes	2,349	1,622	3,851
Total current assets	477,326	493,525	513,022
Property and equipment, net	268,229	289,441	344,503
Intangible assets, net	306,860	308,702	318,116
Goodwill	107,900	107,900	107,900
Other assets	7,851	6,374	5,530
Total assets	1,168,166	1,205,942	1,289,071
Current liabilities:
Accounts payable	223,810	232,480	214,173
Other current liabilities	158,213	177,206	181,247
Due to Parent	37,251	38,210	29,290
Interest payable	11,626	21,914	5,091
Current portion of long-term debt	15,670	15,670	15,670
Total current liabilities	488,131	485,480	445,471
Long-term debt, net	1,695,772	1,697,812	1,487,736
Lease-related deferred credits, net	113,589	117,688	130,195
Deferred income taxes, net	27,545	27,752	94,456
Other liabilities	26,883	30,168	41,122
Total liabilities	2,351,920	2,358,900	2,198,980
Total stockholders’ deficit	(1,183,754)	(1,152,958)	(909,909)	$ (791,395)
Total liabilities and stockholders’ deficit	$ 1,168,166	1,205,942	1,289,071
As Reported | Adoption of ASU 2014-09
Current assets:
Cash and cash equivalents		107,066	104,568
Merchandise inventories, net		292,489	324,977
Prepaid expenses and other current assets		83,228	72,489
Refundable income taxes		5,807	7,495
Total current assets		488,590	509,529
Property and equipment, net		289,441	344,503
Intangible assets, net		308,702	318,116
Goodwill		107,900	107,900
Other assets		6,374	5,530
Total assets		1,201,007	1,285,578
Current liabilities:
Accounts payable		232,480	214,173
Other current liabilities		167,113	171,714
Due to Parent		38,210	29,290
Interest payable		21,914	5,091
Current portion of long-term debt		15,670	15,670
Total current liabilities		475,387	435,938
Long-term debt, net		1,697,812	1,487,736
Lease-related deferred credits, net		117,688	130,195
Deferred income taxes, net		29,486	97,614
Other liabilities		30,168	41,122
Total liabilities		2,350,541	2,192,605
Total stockholders’ deficit		(1,149,534)	(907,027)
Total liabilities and stockholders’ deficit		1,201,007	1,285,578
Adjustments | Adoption of ASU 2014-09
Current assets:
Prepaid expenses and other current assets		9,120	7,137
Refundable income taxes		(4,185)	(3,644)
Total current assets		4,935	3,493
Total assets		4,935	3,493
Current liabilities:
Other current liabilities		10,093	9,533
Total current liabilities		10,093	9,533
Deferred income taxes, net		(1,734)	(3,158)
Total liabilities		8,359	6,375
Total stockholders’ deficit		(3,424)	(2,882)
Total liabilities and stockholders’ deficit		$ 4,935	$ 3,493

Revenue Recognition - Summary32

Revenue Recognition - Summary of Disaggregated Revenue (Details) - USD ($) $ in Thousands		3 Months Ended
		May 05, 2018	Apr. 29, 2017
Disaggregation Of Revenue [Line Items]
Total revenues		$ 540,450	$ 525,767
J.Crew
Disaggregation Of Revenue [Line Items]
Total revenues		391,864	421,476
Madewell
Disaggregation Of Revenue [Line Items]
Total revenues		115,842	83,380
Other
Disaggregation Of Revenue [Line Items]
Total revenues	[1]	$ 32,744	$ 20,911
[1]	Consists primarily of revenues from wholesale customers and shipping and handling fees.

Revenue Recognition - Summary33

Revenue Recognition - Summary of Accounts Receivable Included in Prepaid Expenses and Other Current Assets with Respect to Wholesale Customers (Details) - Prepaid Expenses and Other Current Assets - USD ($) $ in Thousands	May 05, 2018	Feb. 03, 2018
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable	$ 31,884	$ 23,503
Less allowance for doubtful accounts	(422)	(312)
Accounts receivable, net	$ 31,462	$ 23,191

Revenue Recognition - Rollforwa

Revenue Recognition - Rollforward of Liabilities For Gift Cards and Loyalty Program Awards (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Unredeemed Gift Cards
Revenue From Contract With Customer [Line Items]
Balance at beginning of period	$ 32,665	$ 34,698
Issuance of cards	13,220	13,614
Redemption of cards	(15,963)	(18,093)
Recognition of estimated breakage	(921)	(1,200)
Other	(119)	(238)
Balance at end of period	28,882	28,781
Unredeemed Loyalty Program Rewards
Revenue From Contract With Customer [Line Items]
Balance at beginning of period	8,422	8,420
Redemption of cards	(7,463)	(3,293)
Recognition of estimated breakage	(766)	(1,964)
Earning of loyalty program points	3,537	4,166
Other	184	86
Balance at end of period	$ 3,914	$ 7,415

Debt Exchange and Refinancing -

Debt Exchange and Refinancing - Additional Information (Details) - USD ($)	Jul. 13, 2017	May 05, 2018	Feb. 03, 2018	Dec. 05, 2016
Debt Exchange And Refinancing [Line Items]
Aggregate principal amount of notes exchanged	$ 565,700,000
Common stock, shares issued		1,000	1,000
Common stock, par value		$ 0.01	$ 0.01
J.Crew International | Additional Transferred IP
Debt Exchange And Refinancing [Line Items]
Percentage of undivided ownership interest transferred	27.96%
J.Crew International | Initial Transferred IP
Debt Exchange And Refinancing [Line Items]
Percentage of undivided ownership interest transferred				72.04%
J.Crew International | Transferred IP
Debt Exchange And Refinancing [Line Items]
Percentage of undivided ownership interest transferred	100.00%
Series A Preferred Stock
Debt Exchange And Refinancing [Line Items]
Preferred stock, shares outstanding	189,688
Preferred stock dividend rate percentage	7.00%
Preferred stock, par value per share	$ 0
Aggregate initial liquidation preference	$ 189,688,000
Exchange Notes
Debt Exchange And Refinancing [Line Items]
Senior notes interest rate	13.00%
Aggregate principal amount of the outstanding	$ 249,596,000
Debt instrument maturity year	2,021
Term Loan Facility
Debt Exchange And Refinancing [Line Items]
Aggregate principal amount of the outstanding		$ 1,384,575,000	$ 1,388,258,000
Repayment of principal amount outstanding	$ 150,500,000	$ 150,500,000
New Money Notes
Debt Exchange And Refinancing [Line Items]
Senior notes interest rate	13.00%
Debt instrument maturity year	2,021
Principal amount of notes issued	$ 97,000,000
Debt instrument cash discount rate	3.00%
Payment in Kind (PIK) Note | Class A Common Stock
Debt Exchange And Refinancing [Line Items]
Percentage of common stock issued	15.00%
Common stock, shares issued	17,362,719
Common stock, par value	$ 0.00001
Payment in Kind (PIK) Note | Minimum
Debt Exchange And Refinancing [Line Items]
Senior notes interest rate	7.75%
Payment in Kind (PIK) Note | Maximum
Debt Exchange And Refinancing [Line Items]
Senior notes interest rate	8.50%
New Term Loan Borrowings | Term Loan Facility
Debt Exchange And Refinancing [Line Items]
Aggregate principal amount of the outstanding	$ 30,000,000
Debt instrument discount rate	2.00%

Management Services Agreement -

Management Services Agreement - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017	Jul. 13, 2017
Related Party Transaction [Line Items]
Sponsor fees, description	Pursuant to a management services agreement entered into in connection with the Acquisition, and in exchange for ongoing consulting and management advisory services (the “Services”), the Sponsors received an aggregate annual monitoring fee prepaid quarterly equal to the greater of (i) 40 basis points of consolidated annual revenues or (ii) $8 million (in either case, the “Advisory Fee”). The Sponsors also receive reimbursement for out-of-pocket expenses incurred in connection with services provided pursuant to the agreement.
Selling, General and Administrative Expenses
Related Party Transaction [Line Items]
Monitoring fees, included in selling, general and administrative expenses	$ 2.5	$ 2.4
Series A Preferred Stock
Related Party Transaction [Line Items]
Percentage of liquidation preference on outstanding stock of parent			5.00%
Management Revenue Scenario One
Related Party Transaction [Line Items]
Consolidation annual revenue in basis points	0.40%
Management Revenue Scenario Two
Related Party Transaction [Line Items]
Annual monitoring fee (Advisory fee)	$ 8

Goodwill and Intangible Asset37

Goodwill and Intangible Assets - Components of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Intangible Assets Goodwill [Line Items]
Beginning balance	$ 308,702
Amortization expense	(1,803)	$ (2,288)
Ending balance	306,860	$ 318,116
Favorable Lease Commitments
Intangible Assets Goodwill [Line Items]
Beginning balance	3,912
Amortization expense	(743)
Ending balance	3,169
Total accumulated amortization or impairment losses	(57,841)
Madewell Trade Name
Intangible Assets Goodwill [Line Items]
Beginning balance	53,642
Amortization expense	(1,025)
Ending balance	52,617
Total accumulated amortization or impairment losses	(29,383)
Key Money
Intangible Assets Goodwill [Line Items]
Beginning balance	953
Amortization expense	(35)
Effect of changes in foreign exchange rates, intangible	(39)
Ending balance	879
Total accumulated amortization or impairment losses	(3,938)
J.Crew Trade Name
Intangible Assets Goodwill [Line Items]
Beginning balance	250,195
Ending balance	250,195
Total accumulated amortization or impairment losses	$ (635,105)

Goodwill and Intangible Asset38

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 29, 2017	May 05, 2018	Feb. 03, 2018
Intangible Assets Goodwill [Line Items]
Goodwill	$ 107,900,000	$ 107,900,000	$ 107,900,000
Intangible assets, net	318,116,000	306,860,000	308,702,000
Madewell Trade Name
Intangible Assets Goodwill [Line Items]
Intangible assets, net		52,617,000	53,642,000
J.Crew Trade Name
Intangible Assets Goodwill [Line Items]
Non-cash impairment charge	$ 129,800,000
Intangible assets, net		250,195,000	$ 250,195,000
Madewell Reporting Units
Intangible Assets Goodwill [Line Items]
Goodwill		107,900,000
J.Crew Reporting Units
Intangible Assets Goodwill [Line Items]
Goodwill		0
Accumulated impairment losses, goodwill		$ 1,579,000,000

Goodwill and Intangible Asset39

Goodwill and Intangible Assets - Summary of Aggregate Impairment Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	May 05, 2018	Apr. 29, 2017	Feb. 03, 2018	Jan. 28, 2017
Intangible Assets Goodwill [Line Items]
Long-lived assets	$ 6,866	$ 1,357
Impairment losses	$ 6,866	131,157	$ 141,187	$ 7,752
J.Crew Trade Name
Intangible Assets Goodwill [Line Items]
Impairment losses, intangible		$ 129,800

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - $ / shares	Oct. 03, 2017	Jul. 13, 2017	Jul. 12, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reverse stock split, description		10,000-to-1
Reverse stock split, shares		10,000
Equity incentive plan, decrease in shares authorized		9,174	91,740,627
Increase in exercise price		$ 1,000	$ 0.10
Chief Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards authorized	5,209,823
Maximum | Preferred Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards authorized		20,000
Maximum | Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity awards authorized		13,003,295

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Recorded in Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation	$ 46	$ 209

Share-Based Compensation - Sh42

Share-Based Compensation - Shares Available for Grants as Stock Options or Other Share-Based Awards, as Adjusted for Reverse Stock Split (Details)	3 Months Ended
	May 05, 2018shares
Common Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for grant beginning balance	13,018,649
Granted	(8,749,186)
Forfeited and available for reissuance	163,238
Available for grant ending balance	4,432,701
Preferred Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for grant beginning balance	20,000
Available for grant ending balance	20,000

Long-term Debt and Credit Agr43

Long-term Debt and Credit Agreements - Summary of Components of Long-Term Debt (Details) - USD ($) $ in Thousands	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017
Debt Instrument [Line Items]
Less current portion of Term Loan	$ (15,670)	$ (15,670)	$ (15,670)
Long-term debt, net	1,695,772	1,697,812	$ 1,487,736
Borrowings under the ABL Facility	41,561
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	1,384,575	1,388,258
Less current portion of Term Loan	(15,670)	(15,670)
Less deferred financing costs	(13,731)	(14,879)
Less discount	(5,998)	(6,493)
Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 346,596	$ 346,596

Long-Term Debt and Credit Agr44

Long-Term Debt and Credit Agreements - Additional Information (Details) - USD ($)	Jul. 31, 2019	Jul. 14, 2019	Jul. 13, 2017	May 05, 2018	Apr. 29, 2017	Feb. 03, 2018
Debt Instrument [Line Items]
Debt instrument redemption description				The Company is also required (i) to repay the term loan based on an annual calculation of excess cash flow, as defined in the agreement, (ii) in the second quarter of fiscal 2019, to make a principal repayment of $11.9 million which is equal to 1.00% of the aggregate principal amount of Amended Loans outstanding on July 13, 2017 and (iii) beginning on July 31, 2019, on the last business day of January, April, July and October, to make additional principal repayments of $1.5 million equal to 0.125% of the aggregate principal amount of Amended Loans outstanding on July 13, 2017.
Amended Loans
Debt Instrument [Line Items]
Percenatge of lenders			88.00%
Interest rate increased percentage			0.22%
Amended Loans | Scenario, Forecast
Debt Instrument [Line Items]
Debt, quarterly principal payments percentage	0.125%	1.00%
Debt, quarterly principal payments	$ 1,500,000	$ 11,900,000
Amended Loans | LIBOR
Debt Instrument [Line Items]
Interest rate margin				3.22%
Amended Loans | Base Rate Borrowings
Debt Instrument [Line Items]
Interest rate margin				2.22%
New Term Loan Borrowings
Debt Instrument [Line Items]
Long-term debt, gross			$ 30,000,000	$ 30,000,000
Net proceeds from term loan facility			29,400,000
New Term Loan Borrowings | LIBOR
Debt Instrument [Line Items]
Interest rate margin				12.00%
New Term Loan Borrowings | LIBOR | Payment in Kind (PIK) Note
Debt Instrument [Line Items]
Interest rate margin				3.00%
New Term Loan Borrowings | Base Rate Borrowings
Debt Instrument [Line Items]
Interest rate margin				12.00%
New Term Loan Borrowings | Base Rate Borrowings | Payment in Kind (PIK) Note
Debt Instrument [Line Items]
Interest rate margin				3.00%
Term Loan Facility
Debt Instrument [Line Items]
Weighted average interest rate				5.52%
Long-term debt, gross				$ 1,384,575,000		$ 1,388,258,000
Repayment of principal amount outstanding			150,500,000	$ 150,500,000
Cash on hand used to repay long term debt			27,000,000
Debt, quarterly principal payments percentage				0.25%
Debt, quarterly principal payments				$ 3,900,000
Debt, maturity date				Mar. 5, 2021
Term Loan Facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Interest rate margin				0.50%
Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Interest rate margin, description				LIBOR determined by reference to the costs of funds for U.S. dollar deposits for an interest period of one month, plus 1.00%
Interest rate margin				1.00%
New Money Notes
Debt Instrument [Line Items]
Net proceeds from term loan facility			$ 94,100,000
Debt instrument interest rate			13.00%
Term Loans, Other than New Term Loan Borrowings and Amended Loans | LIBOR
Debt Instrument [Line Items]
Interest rate margin				3.00%
Term Loans, Other than New Term Loan Borrowings and Amended Loans | Base Rate Borrowings
Debt Instrument [Line Items]
Interest rate margin				2.00%
Notes
Debt Instrument [Line Items]
Long-term debt, gross				$ 346,596,000		$ 346,596,000
Debt, maturity date				Sep. 15, 2021
Debt instrument issuance date				Jul. 13, 2017
Debt instrument interest rate				13.00%
Debt instrument frequency of interest payable				interest is payable semi-annually on March 15 and September 15 of each year.
Percentage of principal amount to be redeemed, plus accrued and unpaid interest				100.00%
Sinking fund provided				$ 0
Percentage of aggregate principal amount repurchased plus accrued and unpaid interest				100.00%
Debt instrument, covenants description				Each of the indentures contains covenants covering (i) the payment of principal and interest, (ii) maintenance of an office or agency for the payment of the Notes, (iii) reports to the applicable Trustee and holders of the Notes, (iv) stay, extension and usury laws, (v) payment of taxes, (vi) existence, (vii) maintenance of properties and (viii) maintenance of insurance. Each of the indentures relating to the Notes also includes covenants that (i) limit the ability to transfer the collateral and (ii) limit liens that may be imposed on the assets of the Guarantors, which covenants are, in each case, subject to certain exceptions set forth in each of the indentures.
ABL Credit Facility
Debt Instrument [Line Items]
Line of credit facility borrowing capacity				$ 350,000,000
Credit facility, additional borrowing capacity				$ 100,000,000
Line of credit facility, maturity date				Nov. 17, 2021
Outstanding stand-by letters of credit				$ 44,200,000
Letters of credit, remaining borrowing capacity				$ 218,600,000
Weighted average interest rate				5.00%
Outstanding borrowings				$ 41,600,000
Average short-term borrowings under the ABL Facility				30,500,000	$ 0
ABL Credit Facility | Swingline Loans
Debt Instrument [Line Items]
Line of credit facility borrowing capacity				25,000,000
ABL Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility borrowing capacity				200,000,000
Documentary Letters Of Credit
Debt Instrument [Line Items]
Outstanding stand-by letters of credit				16,100,000
Letters of credit, remaining borrowing capacity				3,900,000
Documentary Letters Of Credit | HSBC
Debt Instrument [Line Items]
Line of credit facility borrowing capacity				$ 20,000,000

Long-term Debt and Credit Agr45

Long-term Debt and Credit Agreements - Summary of Components of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	May 05, 2018	Apr. 29, 2017	Feb. 03, 2018	Jan. 28, 2017
Debt Instrument [Line Items]
Interest expense, net of interest income	$ 32,982	$ 20,436	$ 110,513	$ 79,359
Term Loan Facility
Debt Instrument [Line Items]
Interest expense, net of interest income	18,383	15,507
Notes
Debt Instrument [Line Items]
Interest expense, net of interest income	11,264
Realized hedging losses
Debt Instrument [Line Items]
Interest expense, net of interest income	1,355	3,056
Amortization of deferred financing costs and debt discount
Debt Instrument [Line Items]
Interest expense, net of interest income	1,790	1,227
Other interest, net of interest income
Debt Instrument [Line Items]
Interest expense, net of interest income	$ 190	$ 646

Derivative Financial Instrume46

Derivative Financial Instruments - Additional Information (Details) - USD ($)	May 05, 2018	Feb. 03, 2018	Aug. 31, 2014
Interest Rate Caps March 2015 To March 2016
Derivative [Line Items]
Aggregate notional amount of interest rate derivative			$ 400,000,000
Interest Rate Caps March 2015 To March 2016 | LIBOR
Derivative [Line Items]
Interest rate cap agreements, capped LIBOR			2.00%
Interest Rate Swap March 2016 To March 2019
Derivative [Line Items]
Aggregate notional amount of interest rate derivative			$ 800,000,000
Interest rate derivative, fixed interest rate			2.56%
Interest Rate Swap | Other Liabilities
Derivative [Line Items]
Liabilities for interest rate swaps	$ 700,000	$ 4,300,000

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	May 05, 2018	Feb. 03, 2018
Fair Value, Inputs, Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated fair value of long-term debt	$ 1,457	$ 1,388

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Impairment of Certain Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Fair Value Disclosures [Abstract]
Carrying value of long-term assets written down to fair value	$ 6,866	$ 1,357
Impairment charge	$ 6,866	$ 1,357

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	May 05, 2018	Apr. 29, 2017	Feb. 03, 2018	Jan. 28, 2017
Income Taxes [Line Items]
Provision (benefit) for income taxes	$ 49,000	$ (50,484,000)	$ (103,551,000)	$ (6,815,000)
Deferred tax benefit	991,000	51,775,000
Deferred tax benefit on other operating losses	$ 0
U.S. federal statutory rate	35.00%
Effective tax rate	29.00%
J.Crew Trade Name
Income Taxes [Line Items]
Impairment losses, intangible		$ 129,800,000

Workforce Reductions - Addition

Workforce Reductions - Additional Information (Details) - Position	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Full-Time Positions
Workforce Reductions [Line Items]
Number of positions eliminated	150
Open Positions
Workforce Reductions [Line Items]
Number of positions eliminated	100
Full-Time Store Positions
Workforce Reductions [Line Items]
Number of positions eliminated	600	600

Workforce Reductions - Schedule

Workforce Reductions - Schedule of Reserve for Severance and Related Costs (Details) $ in Thousands	3 Months Ended
	May 05, 2018USD ($)
Workforce Reductions [Abstract]
Balance at February 3, 2018	$ 3,543
Provisions charged to expense	3,288
Payments	(4,700)
Balance at May 5, 2018	$ 2,131

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	Jul. 13, 2017	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017	Jan. 28, 2017	Dec. 05, 2016	Nov. 04, 2013
Related Party Transaction [Line Items]
Total assets		$ 1,168,166,000	$ 1,205,942,000	$ 1,289,071,000
Intangible assets		306,860,000	308,702,000	318,116,000
Cash and cash equivalents		36,038,000	107,066,000	104,568,000	$ 132,226,000
Total liabilities		2,351,920,000	$ 2,358,900,000	$ 2,198,980,000
Aggregate principal amount of notes exchanged	$ 565,700,000
PIK Notes Issuer | Payment in Kind (PIK) Note
Related Party Transaction [Line Items]
Principal amount of notes issued							$ 500,000,000
Aggregate principal amount of notes exchanged	565,700,000
Aggregate principal amount of the outstanding		900,000
Exchange Notes
Related Party Transaction [Line Items]
Aggregate principal amount of the outstanding	249,596,000
New Term Loan Borrowings
Related Party Transaction [Line Items]
Aggregate principal amount of the outstanding	$ 30,000,000	30,000,000
J.Crew International | Initial Transferred IP
Related Party Transaction [Line Items]
Percentage of undivided ownership interest transferred						72.04%
J.Crew International | Additional Transferred IP
Related Party Transaction [Line Items]
Percentage of undivided ownership interest transferred	27.96%
J.Crew International | Transferred IP
Related Party Transaction [Line Items]
Percentage of undivided ownership interest transferred	100.00%
J.Crew Operating Corp
Related Party Transaction [Line Items]
Payment of fixed license fee by subsidiaries		59,000,000
Receivable due from related party		121,000,000
J.Crew BrandCo
Related Party Transaction [Line Items]
Total assets		381,300,000
Intangible assets		250,200,000
License fee receivable		9,800,000
Cash and cash equivalents		300,000
Royalty revenue earned		$ 14,800,000
J.Crew BrandCo | New Notes
Related Party Transaction [Line Items]
Payment terms		The proceeds from the license fees to IPCo are used by J.Crew BrandCo to meet debt service requirements on the Notes.
Total liabilities		$ 345,400,000

Related Party Transactions - Su

Related Party Transactions - Summary of the Components of Due to Parent (Details) - USD ($) $ in Thousands	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017
Related Party Transaction [Line Items]
Due to Parent	$ (37,251)	$ (38,210)	$ (29,290)
Chinos Holdings Inc
Related Party Transaction [Line Items]
Income taxes payable to Parent	(49,888)	(49,888)
Monitoring fees payable	(487)	(1,446)
Payment of certain transaction costs on behalf of Parent	13,124	13,124
Due to Parent	$ (37,251)	$ (38,210)

Recent Accounting Pronounceme54

Recent Accounting Pronouncements - Additional Information (Details) $ in Millions	May 05, 2018USD ($)
Accounting Changes And Error Corrections [Abstract]
Future minimum lease payments through 2028 on undiscounted basis	$ 900

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) $ in Millions	May 10, 2018USD ($)ft²	Jun. 30, 2019USD ($)
Vornado Office Management, LLC | Surrender Agreement | Scenario, Forecast
Subsequent Event [Line Items]
Gain on lease termination reduction of selling, general and administrative expense		$ 35
Subsequent Event | Sublease
Subsequent Event [Line Items]
Occupancy term	16 years
Area of office space sublease | ft²	325,000
Aggregate base rent	$ 272
Pre-tax rent savings	$ 4
Subsequent Event | Vornado Office Management, LLC | Surrender Agreement
Subsequent Event [Line Items]
Lease amendment and surrender agreement date	May 10, 2018
Termination payment	$ 35