J. Crew Quietly Slips Downmarket With New ‘Value-Driven’ Store

Apparel maker J. Crew quietly announced the opening of a “value-driven” store, the first in a new chain of retail spots that will try to drum up sales among budget-conscience shoppers.

The new chain, dubbed J. Crew Mercantile, will debut in a Dallas shopping center in July, and will feature merchandise that will “make the collection even more accessible to customers,” the company said in a statement.

The announcement comes amid flagging sales for the retailer, which dropped by 5% in the first quarter of the year and have prompted a shakeup across the executive suite.