J. Crew's Clothes Actually Aren't Getting Any Cheaper

AP

Last week, J. Crew fans rejoiced on news that clothes would get cheaper this spring.

Unfortunately, those reports aren't true, the company told us.

Women's Wear Daily quoted the retailer's CEO Mickey Drexler as saying that spring prices would be "much more friendly."

But the publication has since issued a correction.

"We are simply maintaining a balance of pricing across the board and better communicating to our customers what we have and why it is worth the price it is," a J. Crew spokesperson said. "Emphasis for us is always on the quality and design at best possible price."

J.Crew's prices have become more designer than middle-market. The company was once routinely compared to Gap, but now the prices are considerably more expensive.

For instance, men's work pants cost $59.95 at Gap, but $79.50 at J.Crew.