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J.Jill total net sales increases to $180.7 mn in Q2 2019

06
Sep '19
Pic: J.Jill
Pic: J.Jill
Total net sales of J.Jill for the thirteen weeks ending August 3, 2019 increased $1 million to $180.7 million versus $179.7 million for the thirteen weeks ending August 4, 2018. Total net sales for the twenty-six weeks ending August 3 decreased $4.1 million to $357.2 million versus $361.3 million for the twenty-six weeks ending August 4, 2018.

The total company comparable sales, which includes comparable store and direct to consumer sales, decreased by 1.2 per cent in Q2 2019. Direct to consumer net sales represented 42.6 per cent of total net sales, compared to 40.9 per cent in the second quarter of fiscal 2018, said J.Jill in a media statement.

The total comparable sales decreased by 2.2 per cent for the twenty-six weeks ending August 4, 2018. Direct to consumer net sales represented 42.3 per cent of total net sales compared to 40.7 per cent in the twenty-six weeks ending August 4, 2018.

"In the second quarter, we took necessary steps to address the challenging start we had to this year. We completed an evaluation of our infrastructure to increase efficiencies and took actions to begin right-sizing our organisation. We continue to balance our on-hand inventory levels, while remaining focused on customer experience and product. We have made progress, and there is still more work to be done, said Linda Heasley, president and CEO of J.Jill.

"We have a fiercely loyal customer and we are intently focused on delivering the product and shopping experience she expects from J.Jill. We saw improved full price selling during the summer months and maintained positive traffic for the quarter. We have also further utilised customer insights to assist in reviewing the floor sets for the coming months and we look forward to continuing to improve our go to market processes while enhancing the strong foundation on which the brand is built."

For the third quarter of fiscal 2019, the company expects total comparable sales to decrease 1-3 per cent with total net sales expected to be -1 per cent to +1 per cent. Diluted earnings per share are expected to be $0.10 to $0.12, compared to diluted earnings per share of $0.15 in the third quarter of fiscal 2018.

For the full 2019 fiscal year, J.Jill expects total comparable sales to decrease 2-4 per cent with total net sales expected to be flat to down 2 per cent. It expects the adjusted diluted earnings per share to be in the range of $0.20 to $0.24 versus its prior diluted earnings per share of $0.17 to $0.21. This is compared to diluted earnings per share of $0.69 and adjusted diluted earnings per share of $0.72 in fiscal 2018.

J.Jill, headquartered outside Boston, is a premier omni-channel retailer and nationally recognised women's apparel. (PC)

Fibre2Fashion News Desk – India


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