J.Jill Q3 tops Street
Women's apparel retailer J.Jill managed to beat analysts’ estimates in its third quarter even as its income declined.
Total net sales increased 1.6% to $162.0 million in the quarter ended October 28, from $159.4 million in the year-ago period. Analysts had expected revenue of $156.9 million.
Total same-store sales decreased by 0.6%. Direct-to-consumer net sales represented 39.5% of total net sales, compared to 40.4% last year.
The company reported net income of $6 million, down from $8 million last year. Adjusted earnings were $0.13 per share. Analysts had expected earnings of $0.09 per share.
"While we are disappointed with our overall performance for the third quarter, we are pleased to have ended the period with positive trends in October driven largely by our retail store performance," said Paula Bennett, president and CEO, J.Jill, which operates 270 stores. "Thus far in the fourth quarter, we have returned to total comparable sales growth, with our current product offering better aligned to what our customer expects from J.Jill."
Total net sales increased 1.6% to $162.0 million in the quarter ended October 28, from $159.4 million in the year-ago period. Analysts had expected revenue of $156.9 million.
Total same-store sales decreased by 0.6%. Direct-to-consumer net sales represented 39.5% of total net sales, compared to 40.4% last year.
The company reported net income of $6 million, down from $8 million last year. Adjusted earnings were $0.13 per share. Analysts had expected earnings of $0.09 per share.
"While we are disappointed with our overall performance for the third quarter, we are pleased to have ended the period with positive trends in October driven largely by our retail store performance," said Paula Bennett, president and CEO, J.Jill, which operates 270 stores. "Thus far in the fourth quarter, we have returned to total comparable sales growth, with our current product offering better aligned to what our customer expects from J.Jill."