Women falling out of love with J. Crew?

The news that trendy retailer J. Crew is being acquired in a $3 billion deal helped obscure the company's disappointing quarter and weak outlook.

In a potentially ominous sign for the retailer, women's apparel is a growing weak spot, said CEO Millard Drexler in a conference call Nov. 23.

The company lowered its fiscal 2010 earnings per share outlook to a range of $2.08 to $2.13 per share, and comparable-store sales in the negative low single digits.

"Needless to say, we are disappointed with our third quarter results and our fourth quarter outlook," Drexler said. "While we are seeing strength from our men's, crewcuts, accessories, factory and Madewell business, the softness has been primarily osolated to our women's retail and direct business."