J. Crew is working on new store format with lower prices

J. Crew is planning to launch a new chain of stores with prices similar to existing outlet shops in an attempt to attract bargain-hunting shoppers, according to a Wall Street Journal story. It is hoped that the new chain, to be called J. Crew Mercantile, will attract price-conscious consumers without drawing too many away from the main store brand. J. Crew made a similar move while CEO of Gap in the 1990s, when it created the Old Navy brand.