J. Crew Beats Earnings, Cuts Guidance; Shares Falling After Hours (JCG)

J. Crew Group, Inc. JCG reports Q2 EPS of $0.53 versus estimates of $0.46. J. Crew Group, Inc. reports revenues of $407.5 million versus estimates of $403.27 million. J. Crew said it sees EPS of 55-60 cents versus the 71 cents Wall Street was expecting. It also lowered its 2010 EPS outlook from $2.35-$2.45 to $2.25-$2.35. Shares of J. Crew are being hit hard after hours, losing $3.47 to trade at $29.98.