J. Crew Shares Jump After Obamas Don Company's Clothing At Inauguration

WASHINGTON — Share of J. Crew Group Inc. jumped Wednesday after news spread that many items worn by the first family during this week's inauguration events were from the national retailer.

President Barack Obama wore a white satin bow tie to all the Inaugural Balls Tuesday night. First lady Michelle Obama wore J. Crew gloves, a sweater and skirt from the company to different events. And daughters Malia and Sasha wore coats, dresses and other items from the retailer to various occasions celebrating their father's inauguration.

While the items were made specifically for the Obamas, J. Crew said customers can see highlights or similar items in upcoming seasons.

"We are thrilled to be a part of this historic event," Frank Muytjens, vice president of men's design at J. Crew said in a statement.

Shares of J. Crew jumped 96 cents, more than 10 percent, in trading Wednesday to close at $9.99.

Comments

[phlashba]

05:25 AM on 01/24/2009

Lemmings.

[toyboat]

04:57 PM on 01/22/2009

Oh gosh people give me a break!

[TrueThis]

12:53 AM on 01/23/2009

Go play with your toy boat!

[sunny555]

02:51 PM on 01/22/2009

The two first daughters always look absolutely beautiful in all their clothing.

[swan1]

10:53 AM on 01/22/2009

The dress from the inauguration was Narsico Rodrigas . BTW I can't spell his name lol

[maddie0001]

08:06 PM on 01/22/2009

The inaguration dress (day) was a Cuban woman, the ball gown was a Chinese guy. Narcisco did that god-awful red/black election night dress.

[darnsannity]

10:23 PM on 01/22/2009

and jason wu is a g a y

[bluevespagirl]

10:43 AM on 01/22/2009

Good luck finding something at JCrew that isn't made in China. And, no their clothes aren't any cheeper because they are made in China. JCrew profits are bigger because their inventories are nearly 100% made in China. It's too bad there was so much emphasis on Michelle finding an American designer for her gown, but she didn't think to buy Made in the USA clothing for inauguration day.

[PhillyQuaker]

01:45 PM on 01/22/2009

Thanks for the heads up about JCrew selling stuff made in China. Will stay away, not that I can afford to buy anything right now.

[gjohntheterrible]

08:34 PM on 01/22/2009

Good luck finding a clothing store in america that does not sell cloths made in china. By the way if anyone is looking to buy bedding checkout Cuddledown, excellent products and they are made in the good ol' USA.

[Andita]

04:59 AM on 01/22/2009

J. Crew, an American company --- I like their clothes but I think 98% of them are made in China and other foreign locales.

[Patricia84]

06:48 AM on 01/22/2009

Indeed. But it means that you'll pay less for them than you would if they were made in the United States, thus, a bigger purchasing power. As Krugman illustrated it in his 1998 Pop Internationalism, it's all a matter of perception.

"James Ingram's (1983) textbook on international trade contains a lovely parable. He imagines that an entrepreneur starts a new business that uses a secret technology to convert U.S. wheat, lumber, and so on into cheap high-quality consumer goods. The entrepreneur is hailed as an industrial hero; although some of his domestic competitors are hurt, everyone accepts that occasional dislocations are the price of a free-market economy. But then an investigative reporter discovers that what he is really doing is shipping the wheat and lumber to Asia and using the proceeds to buy manufactured goods-whereupon he is denounced as a fraud who is destroying American jobs. The point, of course, is that international trade is an economic activity like any other and can indeed usefully be thought of as a kind of production process that transforms exports into imports."

So don't be too hard on J. Crew

[IForgotMyName]

12:07 AM on 01/22/2009

Maybe Michelle should wear a Citigroup hat or "Bank of America" t-shirt in order to stabilize the banking industry.

[coultersnemesis]

03:11 AM on 01/22/2009

ahha. good one!

[kolorkin]

01:39 AM on 01/23/2009

hehe, i second that!

[tomas0808]

11:54 PM on 01/21/2009

Baaa baaa. Sheep. Baa baaaa

[pokemon]

06:32 AM on 01/22/2009

You are a inhuman republican cyborg so whats the difference?

[ArmyCentrist]

06:44 AM on 01/22/2009

Yeah, we're so terrible to support American fashion because we see something cute on the First Daughters! What was I thinking?! This from someone who probably still wears leggings like Lindsay Lohan...