luxurious line of investment pieces under the banner J. Crew Collectio

Thank you for joining us to review our fourth quarter and fiscal 2011 results. With me today are Jim Scully, Chief Administrative Officer and Chief Financial Officer; Libby Wadle, Head of our cheap j crew jewelry fashion Brand; and other members of our management team.Before we begin, I would like to remind you the company's Safe Harbor language, with which I am sure you are familiar. The statements contained in this conference call which are not historical fact may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results might differ materially from those projected in such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC and in the press release issued in connection with today's call. In 2009, an otherwise grim year for retailers, J. Crew grew 14 per cent. Fashion insiders point to the huge choice the label offers customers, making a single label store more like a boutique. J. Crew offers bags, shoes, a bridal collection (notable for dressing bridesmaids across the US in chic simple gowns in flattering colours), cutting-edge designer collaborations, a coveted children's collection and a more luxurious line of investment pieces under the banner "J. Crew Collection.""The charges made against J. Crew by [a] former employee are irrelevant and baseless," the statement said. "Anyone who understands our business knows that we do not report profitability by division. Equally important, no cost shifting has occurred, and there would be no advantage to the company in doing so for the reason stated above. "Perhaps not surprisingly, the company has not received any notice from the SEC about any potential claim or investigation."The Post also reported that, according to Sayler, employees at the company's catalog telemarketing facility in Asheville, NC, received paychecks with "J. Crew, Inc." while W-2 tax forms and bank statements detailing direct deposits came from "Grace Holmes, Inc.," which the newspaper described as a "J. Crew subsidiary doing business under the name '2012 j crew outlet Retail Stores,' not the catalog division, according to J. Crew's annual report for the fiscal year that ended Feb. 2, 2002." Nestled between two giants of American high fashion - Tory Burch and Vera Wang - on Tuesday's New York Fashion Week schedule was a more purse-friendly label that every fashion-conscious American woman, including First Lady Michelle Obama has stashed somewhere in her wardrobe: J.Crew. Under the eye of creative director Jenna Lyons, J.Crew has grown from a high street fashion chain, to a label which drew the kind of guests normally spotted front row at Marc Jacobs to it's second fashion week presentation.Still, J. Crew will continue to charge an average of about 15 per cent more in Canada than at its U.S. outlets and website. But to ease the e-pricing pain, it offers a flat $9.95 shipping fee. New York-based J. Crew’s http://www.jcrewoutletonline.com/j-crew-shorts-c-3.html about-face came after The Globe and Mail reported on Monday the reaction to the higher prices in Canada following the retailer’s much-anticipated opening of its first store in this country – in Toronto’s Yorkdale Mall – four days earlier. At the same time, it had launched a separate Canadian website with higher base prices as well as an added duty folded into the taxes. Please visit www.jcrewoutletonline.com for more information.