No, they are dropping their prices on some "key items." Our wonderful personal shopper at J. Crew, Lauren, sent out an e-mail a couple of weeks ago:
"Our corporate office and CEO has announced that in response to the current economic times J.Crew has rolled back prices on many key items in the upcoming Women's & Men's Spring Collection 2009. Rather than marking down items in the future, we are introducing the items at already rolled-back price points. J.Crew will continue to utilize the very best fabrics and manufacturers for our Collections, so have confidence that we are NOT rolling back quality in any way. You'll love the new price points and we hope you'll continue to love our clothing Collections this year!"
So you're definitely not imagining things, Laura!
I wonder what this means for sales and things? If J. Crew is still going to have them? I know sales are bad for brand image, and people will hold out for something if they know it's going to go on sale soon. I think this is partly why J. Crew does "Final Sale" with most of their sale items. It deters people from waiting until a sale to buy something because if it doesn't work, then they're just out of luck.