Clothing retailer J.Crew's chief executive stepping down
A customer walks into a clothing retailer J.Crew store in Manhattan, New York, March 3, 2014. An acquisition of the preppy J.Crew by Fast Retailing could fit snugly between its Uniqlo basics and more upmarket Theory brands, but the Japanese clothing
The chief executive of J.Crew Group Inc. is stepping down.
The clothing retailer said in an announcement Saturday that the departure of James Brett, a retail veteran who took the top job in 2017, was by mutual agreement between Brett and the company's board of directors.
In a statement, Brett said that despite a recent brand relaunch which was showing positive results, he and the company's board were "unable to bridge our beliefs on how to continue to evolve all aspects of the company."
The company said Brett's responsibilities will be assumed by four senior J.Crew executives, including Michael Nicholson, the company's president and chief operating officer.
Brett, who had previously headed up furniture chain West Elm, had been hired in the summer of 2017 when Mickey Drexler, J.Crew's longtime top executive, stepped down.
"Returning J.Crew to its iconic status required reinventing the brand to reflect the America of today with a more expansive, more inclusive fashion concept," Brett said in his statement.
In its statement, the company said that Brett had brought new energy to J.Crew and had "enhanced our ability to relate to a broad range of consumers."