J.Jill cuts sales outlook for third quarter

Sales are not looking promising for J.Jill in its third quarter. The women's apparel retailer announced on Wednesday that it is cutting its outlook for the period ending October 28, 2017.
 
“We have experienced a lower than expected sales trend across both our retail and direct channels, and are updating our guidance for the quarter,” explained president and CEO, Paula Bennett.
 
J.Jill cuts sales outlook for third quarter - J. Jill

The company now expects third-quarter same-store sales to decline by 3 to 5 percent. The retailer also forecasted adjusted earnings of 8 cents to 10 cents a share for the quarter, down from 18 cents to 20 cents a share as previously forecasted.
 
The retailer blamed weak sales on “product and marketing calendar issues."
 
“We have been assessing the change in trend and have identified product and marketing calendar issues that are affecting traffic and conversion, and we are reacting quickly,” Bennett added.
 
The company will provide its outlook for the fourth quarter and a revised outlook for the full fiscal year of 2017 when it reports third quarter results on December 5.
 
In the second quarter of 2017, J. Jill saw total net sales jump 9.9 percent to $181.4 million, and the company expected to see a similar increase in sales for the third quarter.
 
In March of this year, J. Jill became a publicly traded company, with shares valued at $12.75 on its first day of sales. The company operates 270 stores across the country. 

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