J.Jill posts Q1 sales and earnings increase

By

Obi Anyanwu

Published
May 31, 2017

J.Jill continues its sales momentum from fiscal year 2016 into the first quarter of fiscal 2017. The women’s retailer on Wednesday posted a 12.5% increase in first quarter net sales to $166.1 million and a 9.9% increase in total comparable sales, which includes comparable store sales and direct to consumer comparable sales.

 
Diluted earnings per share were $0.18 compared to $0.14 in the prior year, and adjusted diluted earnings per share were $0.24 compared to $0.16 in the previous year.
 
Paula Bennett, President and CEO of J.Jill, Inc. said, “We are pleased with our start to the year and our ability to consistently capitalize on the strengths of our omni-channel data-driven business model. This quarter further exemplifies how well positioned we are to continue to capture market share and drive bottom-line earnings.”

J.Jill launched its first IPO in February, which preceded the company’s 20th consecutive quarter of year-over-year earnings growth.
 
Bennett added, “We are confident we have the right formula and approach in place to continue to drive these consistent positive results and to deliver against our goals for 2017 and beyond.”
 
Gross profit increased to $115.6 million, or 69.6% of total net sales, SG&A expenses were $97.0 million compared to $87.1 million in the previous year, income from operations increased to $18.6 million, and adjusted EBITDA increased by 19.7% to $31.0 million,
 
In the second quarter, J.Jill expects total comparable sales to increase in the high single digits and GAAP diluted earnings per share to be in range of $0.26 to $0.28, and in the fiscal year, the company expects total comparable sales to increase in the high single digits and GAAP diluted earnings per share to be in range of $0.72 to $0.76.