Published
Mar 30, 2017
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J.Jill posts Q4 and FY sales boost following IPO

Published
Mar 30, 2017

J.Jill on Thursday reported its first quarterly and full year financial results since issuing its IPO.
 
Full year net sales jumped 13.7% to $639.1 million, led by the direct to consumer business that represented 43.2% of net sales. Gross profit increased to $427.9 million from $373.2 million in pro forma fiscal 2015, and income from operations increased to $59.4 million.


J.Jill

 
Diluted earnings per share for the year were $0.55 and adjusted diluted EPS were $0.68. The Massachusetts-based company also ended the fiscal year with $13.5 million in cash and cash equivalents, compared to $27.5 million at the end of fiscal 2015, and opened 14 new stores to end the year with a total of 275 locations.
 
The fourth quarter marked as J.Jill's 20th consecutive quarter of year-over-year earnings growth. According to President and CEO Paula Bennett, the fourth quarter helped drive the fiscal 2016 results. Net sales for the quarter increased 14.8% to $166.9 million and company comparable sales increased 10.8%, reflecting the company’s “ability to delight our customers with the product assortment and omni-channel shopping experience.”

Income from operations increased to $10.8 million in the fourth quarter, diluted earnings per share were $0.05 and adjusted diluted EPS were $0.08.
 
Bennett added, “With our proven formula of data-driven decision making, we believe that we have the right strategies in place to grow profitably, and we plan to continue the momentum that we achieved in 2016 into 2017 and beyond.”
 
J.Jill expects its full year 2017 comparable sales to increase in the high single digits and for adjusted diluted EPS to range from $0.75 to $0.79. First quarter comparable sales are also expected to increase in the high single digits and adjusted diluted EPS are expected to be between $0.17 to $0.19.

The company launched its IPO in February with 11.67 million shares priced at $12.68. The pricing was below the expectation range of $14 to $16 a share.

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