J.Jill’s Claire Spofford to retire; search on for a new CEO
There’s going to be a change in leadership at J.Jill in the new year.
The women’s apparel retailer said that Claire Spofford has decided to retire as president and CEO after a distinguished career in retail. She is expected to remain in the role until April 2025.
J.Jill has retained an executive search firm to assist in identifying a new chief executive. Spofford will work closely with the executive team and the board to aid in the transition.
Spofford was named CEO of J.Jill in February 2021. She is credited with leading the company into a new era delivering healthy, sustainable margin performance and significant cash flow generation driven by disciplined inventory management and a strong focus on full-price selling. She also fortified its balance sheet, strengthened its operational foundation, and modernized its brand as a premium casual retailer.
“Under Claire’s leadership, J.Jill has strengthened its operating model and made strategic investments to improve the overall health of the business, creating a pathway toward profitable, sustainable growth,” said Michael Rahamim, chairman. “We are grateful for Claire’s service and unwavering commitment to the brand, customer, team, and our shareholders.”
Prior to J.Jill, Spofford held leadership positions at Cornerstone Brands, Garnet Hill, Orchard Brands and Timberland
“After 4 years leading this incredible company and after nearly three decades leading retail organizations, I have decided that the time is right for a new chapter,” said Spofford. “I am extremely proud of what our team has accomplished together, transforming J.Jill into a stronger, more agile retailer. We implemented rigorous operational disciplines with a new mindset in earning our way back into growth and have taken steps to modernize the brand, enhance our value proposition and strengthen our omni-channel capabilities - all while maintaining our unwavering focus on serving our customers.”
Third quarter
J.Jill’s net sales inched up 0.3$ to $151.3 million for the quarter ended Nov. 2. Comparable sales, which includes comparable store and direct-to-consumer sales fell by 0.08%, negatively impacted by approximately 50 basis points due to hurricane-related disruptions in the quarter.
Net Income was $12.3 million compared to $11.6 million in the year-ago quarter.
“We delivered third quarter results inline with our expectations as we continued to execute the disciplined operating model yielding another quarter of healthy overall margin performance,” Spofford stated. “While our customer has remained selective with her purchasing behavior and we have not yet seen the robust return to full price selling we saw earlier this year, we are maintaining our commitment to providing her the product, value and shopping experience she expects and appreciates from J.Jill.”
Looking ahead, Spofford said the company will continue to invest in strategic initiatives such as systems and new stores that it believes will enhance the omnichannel experience and broaden its reach longer-term
As of Nov. 2, J.Jill operated 247 stores nationwide.
