J Crew CEO: U.S. retail has too many stores, choices

January 16, 2008

Reuters: J Crew Group chief executive Millard Drexler said on Wednesday he did not believe there was a recession but said it was a "shakeout" time in the retail industry. Speaking at the ICR XChange Conference for consumer companies, the head of the apparel retailer and cataloger said there were too many stores and too many choices in U.S. retail today.