Women's apparel retailer beats Street

J. Jill, which went public in March, reported earnings and sales that topped analysts estimates, but provided an outlook that slightly missed forecasts.



Net income totaled $11.9 million, or 28 cents a share, in the quarter ended July 29, up from $8.1 million, or 19 cents a share, in the year-ago period. Adjusted per-share earnings came to 29 cents, in line with estimates.



Total net sales increased 9.9% to $181.4 million, from $165.0 million in year-ago period, and topping estimates. Total same-store sales role 7.8%, also more than expected.



"Our second quarter performance demonstrated the continued strength of our omnichannel model and the disciplined, data-driven approach we take to our business," said Paula Bennett, president and CEO of J.Jill. "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 ended the second quarter fiscal 2017 with $28.7 million in cash and cash equivalents, compared to $13.5 million at the end of fiscal 2016. Inventory at the end of the second quarter fiscal 2017 decreased to $62.8 million compared to $66.6 million at the end of fiscal 2016.



For the third quarter, J. Jill expects adjusted EPS of 18 cents to 20 cents, compared with analysts' expectations of 20 cents. Same-store sales are expected to climb in the high single digits. For the full year, the company is expecting adjusted EPS of 81 cents to 85 cents, compared with a consensus of 84 cents



It opened two stores and closed four stores in the second quarter, giving it a total of 274 stores.