J. Jill sees shares take a steep dive, despite an almost 10 percent increase in sales for the second quarter

By

Emily Jensen

Published
Aug 29, 2017

Despite an almost 10 percent increase in sales, stocks for the retailer took a significant dive, falling 13.7 percent in an afternoon following the release of the second quarter financial results.

Despite an almost 10 percent increase in sales, stocks for the retailer took a significant dive, falling 13.7 percent in an afternoon following the release of the second quarter financial results.
 
For the second quarter of 2017, J. Jill saw total net sales jump 9.9 percent to $181.4 million, compared to $165 million in the second quarter of fiscal 2016. Of those sales, direct-to-consumer sales made up 43.1 percent.

Ads

Paula Bennett, President and CEO of J.Jill, Inc. expressed optimism with the results in a press release. “We are pleased to deliver another quarter of strong sales and earnings growth. Our second quarter performance demonstrated the continued strength of our omnichannel model and the disciplined, data-driven approach we take to our business. As we enter the back half of the year, we remain focused on delighting our customer with the product assortment and shopping experience she values while continuing to deliver consistent profitable growth.”
 
The company expects to see a similar increase in sales for the third quarter of fiscal 2017, with a projected increase in the high single digits.
 
In March of this year, J. Jill became a publicly traded company, with shares valued at $12.75 on its first day of sales.
 
Based in Massachusetts, the women’s retailer is known for its strong customer loyalty, with many customers purchasing directly from catalogues or online. In addition to its strong online presence, the company operates 270 stores across the country.