J Jill Q3 FY20 sales fall 29% to $117 mn

25 Dec '20

1 min read

Pic: Shutterstock

J Jill, a premier omnichannel retailer and women’s apparel brand, has announced its third quarter (Q3) financial result for FY20 ended on October 31, 2020. Net sales for the quarter dropped 29.4 per cent to $117.2 million compared to sales of $166.0 million in the same period prior year. Net loss for Q3 FY20 was $23.1 million (Q3 FY19: income $2.3 million).

“Our third quarter results represent sequential topline improvement as the majority of our stores were reopened for the entire period. Direct sales were up 4 per cent for the quarter and penetration remained healthy at over 60 per cent of total sales,” James Scully, interim chief executive officer of J Jill, said in a press release.

Gross profit for Q3 FY20 was $68.9 million ($106.9 million). Selling, general and administrative expenses for the quarter were $92.1 million ($97.97 million). Company incurred a loss from operations of $24.0 million (income: $8.9 million).

Fibre2Fashion News Desk (JL)

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