1. J.Crew CEO Out After 15 Years — Here's Where he Says the Company Went Wrong

    J.Crew CEO Out After 15 Years — Here's Where he Says the Company Went Wrong

    J.Crew chief executive and chairman Mickey Drexler is leaving his position as CEO after 15 years in the role.

    Drexler will be succeeded by West Elm CEO Jim Brett, the company announced Monday. Drexler will remain chairman of the company.

    J.Crew's sales have been plunging for years...

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    1. We gave a perception of being a higher-priced company than we were — in our catalog, online, and in our general presentation.
    2. We became a little too elitist in our attitude.
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