I am looking to improve front-end performance of my application, so I used YSlow tool in Firefox. When I ran this tool for my app, in the YSlow grade tab it showed up a issue \'
Are you sure you are trying to compress JS and CSS rather than trying to minify it? Generally JS and CSS are cached by the browser after the first visit provided your caching headers are set correctly by your web server. In practice I have found that minifying JS and CSS is usually good enough for the initial download by the browser.
There are many JS minifiers. For example one is located here.