J. Crew Group Inc.’s (JCG: chart) shares jumped 28% in their market debut on Wednesday, a sign of investor confidence in the fashion retailer, even though shares of other apparel companies have slipped in recent weeks.

J. Crew priced an initial public offering of 18.8 million shares on Tuesday at $20 a share. The price came above a $15 - $17 forecast range.

Shares represent about 33% stake of the company and the deal is worth $376 million.

The underwriters have an option to buy up to 2.8 million additional shares from the company at the initial public offering price less the underwriting discount, to cover excess demand.

Goldman Sachs and Bear Stearns are the lead underwriters on the deal.

The New York-based company reported its an increase in its first-quarter revenue to $240 million, up 14% from a year ago.

J. Crew opened six stores in fiscal 2005 and plans to open 15 to 30 stores in fiscal 2006. After that, it plans to open between 25 and 35 stores annually, according to the filing with SEC.

The company began in 1983 as a mail-order business, and is known for casual men''s and women''s clothing and accessories that it sells in stores, catalogs and online.

Texas-Pacific Group bought J. Crew in 1997 and is expected to own as much as 40% of the company after the offering, according to the filing.

Ethanol provider Aventine Renewable (AVR: chart) made the second IPO of the week with lifted pricing after J. Crew rallied in its first day of trading.

The 9.1 million-share initial public offering, which is about 22% stake of the company, was priced at $43 per share, at the high end of a $40 - $43 forecast range, also on Wednesday.

The offering raised nearly $390 million.

The offering and price range was increased from an initial 7.8 million shares at between $37 and $41 per share.

In the three months ended March 31, Aventine reported net income of $12.2 million on revenue of $314 million, compared with net income of $6.6 million on revenue of $197 million a year ago.

Aventine marks the second of three ethanol makers on deck this summer after Verasun Energy (VSE: chart) priced at $23 a share on mid June.

Shares of Aventine fell 3.7% on their market debut on Thursday.