Top Performer for Wed: J. Crew Group (JCG)

After yesterday's fiscal third-quarter report, J. Crew Group (JCG - Snapshot Report) has now put together 5 straight quarters of EPS above the Zacks Consensus Estimate.

On the eve of Thanksgiving, shares of this Zacks #1 Rank Top Performer are up about 8.5%. Despite what is normally a slow session, volume today is north of 6.2 million shares, which is well above the daily average of 1.67 million.

This marks the second time in a little over a month that J. Crew Group is being featured as a Top Performer. It was last mentioned on Oct 22 after raising its outlooks for the fiscal third and fiscal fourth quarters. Click here to read that commentary.

Earnings estimates since that time are up a little bit, but the 20 covering analysts for this fiscal year and next have yet to take the most recent report into account.

J. Crew Group is part of the retail - apparel/shoe industry. On today's Zacks #1 Rank List, there are 2 other names from this space: Limited Brands, Inc. (LTD - Analyst Report) and Nordstrom, Inc. (JWN - Analyst Report).

Fiscal Third Quarter

Yesterday, J. Crew Group announced fiscal third-quarter earnings per share of 67 cents, compared to the Zacks Consensus Estimate of 58 cents. That marks a surprise of more than 15.5%. Over the past 4 quarters, it has amassed an average surprise of 86%.

(The graph below does not take the most recent earnings surprise into account):

Equally as important was that revenues advanced 14% to $414.1 million from $363.1 million a year earlier. Same-store sales were up 8%. This is especially good news since at least part of J. Crew Group's earnings improvement appears to be based on sales growth, rather than just cost cutting.

For the fiscal fourth quarter, the company expects earnings per share between 37 cents and 42 cents. The Zacks Consensus Estimate is currently at 39 cents.

Earnings Estimates on J. Crew Group

The Zacks Consensus Estimate for this fiscal year, ending January 2010, is at $1.58 per share, marking a gain of more than 27% from 2 months ago. The past 30 days has seen an advance of 1.3% thanks to upward revisions from 2 analysts.

Meanwhile, the Zacks Consensus Estimate for the fiscal year ending January 2011 is at $1.93, up 26% in 2 months and 2.7% in 30 days. That guidance also suggests year-over-year profit growth of 22.2%.

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