The company generated net income for the fiscal year of $1.5 million or $0.07 per diluted share versus $8.7 million or $0.42 per diluted share in the prior year.
Fiscal 2005 retail segment net sales productivity per weighted average square foot declined by 0.3 percent to $401 per square foot while direct segment net sales productivity improved by 2.6 percent to $0.46 per 1,000 square inches circulated. Same store sales declined by 1.2 percent in fiscal 2005 as compared to fiscal 2004.
This fiscal year same store sales calculation compares the 53 weeks ended December 31st 2005 to the 53 weeks ended January 1st 2005.
Gordon Cooke, President and CEO, said, "Fiscal 2005 was a challenging year for J. Jill. We attribute our disappointing results primarily to customer dissatisfaction with our merchandise offerings. Over the past couple of years we have endeavored to broaden the appeal of the J. Jill brand by standardizing our fits, improving the quality of our apparel, increasing the penetration of color and novelty in our assortment and becoming more contemporary in our design elements."
J. Jill Group is a multi-channel specialty retailer of women's apparel, including accessories and footwear. It currently markets its products through its retail stores, catalogs and website jjill.com. It is designed to appeal to active, affluent women age 35 and older.
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