Published
Jun 1, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

J.Jill sales up 9.3% in Q1 as e-commerce picks up

Published
Jun 1, 2018

Quincy, Massachusetts-based womenswear retailer J.Jill, Inc. saw sales rise in the first quarter of 2018, helped along by positive comps and the improved performance of its e-commerce platform.


The retailer's sales increased9.3% in Q1 2018 - Instagram: @jjillstyle


Net sales for the first quarter ended May 5, 2018, rose 9.3% to $181.5 million, compared to the $166.1 million reported in Q1 2017, while total company comparable sales increased 2.3%.

Net sales were positively impacted by the calendar shift that occurred due to fiscal 2017’s 53rd week.

During the period, J.Jill’s direct-to-consumer business, identified as a priority by the company’s former CEO Paula Bennett when fourth quarter results were released in March, accounted for 40.5% of total net sales, slipping from 42.6% in the prior year period.
 
Income from operations also increased to $20.0 million from $18.6 million in Q1 2017, while net income came to $11.3 million, up from $8 million.
 
In March, Bennett pointed out the undeperformance of J.Jill’s new e-commerce platform, launched at the end of last year. However, according to the retailer’s new CEO, Linda Heasley, the channel is now making a more positive contribution.
 
“I am excited to have joined J.Jill at an important time in our company’s history as we plan our next phase of growth,” she said in a release. “The first quarter underscores we have work to do and we have indicators of improvement. We experienced positive comps in our retail stores. We also saw improved results from our e-commerce channel. We remain focused on initiatives to improve our overall performance and get us on track to deliver at a consistent level that is expected.”
 
Heasley stepped into her role as CEO on April 16, 2018, and has been working with Bennett to ensure a smooth transition.
 
Looking forward to the second quarter of 2018, the company expects comparable sales to be flat to positive low single digits, while net sales are anticipated to be negative low single digits to flat, due to the aforementioned calendar shift caused by fiscal 2017’s extra week.


Diluted earnings per share are expected to be between $0.22 and $0.24.

 

Copyright © 2024 FashionNetwork.com All rights reserved.