J.Crew Group Inc. will keep its recently departed chief executive’s strategies for the core business in place, while curtailing his spending plans for new brands, according to J.P. Morgan high yield analyst Carla Casella, WSJ Pro Bankruptcy reported. J.Crew’s management will continue to execute the retailer’s “new Crew” relaunch, its new loyalty program and move to offer a bigger range of sizes, according to a report released by Casella yesterday, based on her discussions with management. Over the weekend, J.Crew announced that CEO James Brett, who joined the company about 16 months ago, was leaving by a “mutual agreement” between him and the board of directors. J.Crew’s loans fell more than four points to just over 85 cents on the dollar on Monday after the news of Mr. Brett’s departure, and even further yesterday to just over 83 cents on the dollar, according to IHS Markit.
