J. Jill Group reports 17% hike in Q4 profit

10 Mar '06

3 min read

Women's clothing and shoes retailer J. Jill Group Inc has reported financial results for the fourth quarter and fiscal year ended December 31st 2005.

The fourth quarter and fiscal year ended December 31st 2005 were 14-week and 53-week periods, respectively. Net sales for the fourth quarter increased by 9.6 percent to $131.0 million from $119.4 million reported in the prior year. Operating income for the quarter totaled $5.4 million or 4.1 percent of net sales compared to $4.5 million or 3.7 percent of net sales in the previous year.

The company generated net income for the quarter of $3.0 million, up 17 percent versus $2.6 million in the prior year.

Fourth quarter sales productivity improved in both segments as compared to the prior year. Retail segment net sales per weighted average square foot increased by 1.0 percent and direct segment net sales per 1,000 square inches circulated increased by 3.0 percent. On the other hand, same store sales for stores open at least one full fiscal year decreased by 3.0 percent for the fourth quarter of fiscal 2005 as compared to the fourth quarter of fiscal 2004.

This fourth quarter same store sales calculation compares the 14 weeks ended December 31st 2005 to the 14 weeks ended January 1st 2005.

For the fiscal year ended December 31st 2005, the company recorded net sales of $449.7 million compared to $434.9 million in the prior year. Operating income for the fiscal year totaled $2.6 million or 0.6 percent of net sales compared to $15.3 million or 3.5 percent of net sales in the previous year.

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