If you're into J. Crew at all, this is quite possibly THE BEST time to buy.
I recall last year, before Christmas, the offer was an additional 30% off and free shipping for orders over $150. This is almost as good. I had purchased: 3 pair of pants and boxers for Steve, for me: 1 pair of chinos, 2 tank tops, rain boots, socks...I'm sure to be forgetting stuff...all for about $100! Craziness!