Fumble: How a Botched Software Upgrade Hurt J. Crew’s Bottom Line
What is the cost of a fumbled upgrade? For J. Crew it was $3MM in unanticipated costs which, according to J. Crew, contributed to their recently announced earnings miss of 4 cents a share. How did Wall Street respond? Typical overcorrection seems to be the response with shares trading 15% down in after hour activity.
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