(RTTNews) - J. Crew (JCG) is showing weakness during Wednesday's pre-market trading following the release of quarterly results. At 8:37 am ET the stock is trading at $24.09 down $2.52 from Tuesday's close.

With the decline, the stock is indicated to open below recent support and at its lowest level in over a year.

The company reported a net income of $18.1 million, or $0.28 per share, for the quarter, compared to $20.6 million, or $0.32 per share, in the second quarter last year.

On average, 16 analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.32 per share.

Revenues increased to $336.3 million from $304.7 million in the previous year period. Store sales increased 10% to $242.3 million. Comparable store sales decreased 0.4%.

Eleven Wall Street analysts expected revenues of $337.86 million.

Looking forward, for the third quarter, the company said it expects earnings per share in the range of $0.28 to $0.33. Fifteen Street analysts expect earnings of $0.46 per share.

For the fiscal year 2008, the company said it currently expects earnings per share in the range of $1.44 to $1.54, compared to its previous guidance in the range of $1.70 to $1.75. Street analysts expect earnings of $1.71 per share.

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