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NEW YORK – J.Jill Inc. (NYSE:JILL) shares gained 4% in after-hours buying and selling Wednesday after the ladies’s attire retailer reported third-quarter earnings that beat analyst expectations.
The Quincy, Massachusetts-based firm posted adjusted earnings per share of $0.89 for the quarter ended November 2, surpassing the consensus estimate of $0.80. Income rose 0.3% year-over-year to $151.3 million, barely above analysts’ projections of $151.02 million.
“We delivered third quarter outcomes in step with our expectations as we continued to execute the disciplined working mannequin yielding one other quarter of wholesome general margin efficiency,” mentioned CEO Claire Spofford in an announcement.
Comparable gross sales, which embody each retailer and direct-to-consumer gross sales, decreased 0.8% in Q3. The corporate famous this metric was negatively impacted by roughly 50 foundation factors as a result of hurricane-related disruptions through the quarter.
J.Jill’s gross margin contracted to 71.4% from 72% within the year-ago interval. Working revenue fell to $19.2 million from $22.1 million final 12 months.
Trying forward, the retailer expects This fall web gross sales to say no 4-6% in comparison with the 14-week fourth quarter of fiscal 2023. For the total fiscal 12 months 2024, J.Jill forecasts web gross sales to be flat to up 1% versus fiscal 2023.
The corporate additionally introduced a brand new $25 million share repurchase program, signaling confidence in its long-term prospects regardless of near-term headwinds.
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