J.Jill ends Q4 with a profit, building momentum for 2017

Ending its fiscal year with a strong fourth quarter has helped J.Jill hit year-over-year earnings growth for 20 consecutive quarters.



For the quarter ended January 28, 2017, the retailer’s total net sales increased by 14.8% to $166.9 million, up from $145.4 million in the fourth quarter of fiscal 2015. Gross profit increased to $105.5 million, up from $91.4 million in the same period last year. As a percentage of total net sales, gross profit was 63.2% compared to 62.9% in the fourth quarter of fiscal 2015.



The women’s specialty chain’s total company comparable sales, which includes comparable store sales and direct-to-consumer comparable sales, increased by 10.8%. For direct to consumer specifically, net sales represented 48.8% of total net sales, up from 46.1% in the fourth quarter 2015.



"We are very pleased with our fourth quarter performance, which helped drive our strong fiscal 2016 results,” said Paula Bennett, president and CEO of J.Jill.



“We have now delivered positive total company comparable sales in 18 of the last 20 quarters, and year-over-year earnings growth for 20 consecutive quarters,” she added. “Our 10.8% total company comparable sales growth for the fourth quarter of fiscal 2016 demonstrates our ability to delight our customers with the product assortment and omnichannel shopping experience that builds loyalty for our brand.”



For fiscal 2016, total net sales increased by 13.7% to $639.1 million, up from $562.0 million in pro forma fiscal 2015. Gross profit increased to $427.9 million from $373.2 million in pro forma fiscal 2015. As a percentage of total net sales, gross profit was 67.0% compared to 66.4% in pro forma fiscal 2015.



Total company comparable sales, which includes comparable store sales and direct to consumer comparable sales, increased by 11.2%, and direct-to-consumer net sales represents 43.2% of fiscal 2016 net sales, up from 39.8% in pro forma fiscal 2015.



The company expects to maintain this momentum throughout the first quarter of fiscal 2017, with total comparable sales expected to increase in the high single digits.



For the full 2017 fiscal year, on a 52-week basis, we expect total comparable sales to increase in the high single digits.



“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,” Bennett, said.