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06/08/2022

J.Jill swings to the black in Q1; sales rise 22%

Marianne Wilson
Editor-in-Chief
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J. Jill showed strong top- and bottom-line growth in its first quarter as its turnaround under CEO Claire Spofford continues.

[Read More: Exclusive: Q&A with J.Jill CEO]

The women’s apparel and accessories retailer reported that its net income totaled $14.4 million, or $1.02 per share, for the quarter ended April 30, compared to net loss of $18.3 million in the year-ago quarter. Adjusted earnings per share were $1.02 compared to $0.20 per share in the first quarter of fiscal 2021.

Total net sales rose 21.7% to for the thirteen weeks ended April 30, 2022 were up 21.7% to $157.1 million.   Woven tops and dresses were the two stand-out categories as customers began to travel, attend occasions and shop for work again, the retailer said.

Total company comparable sales, which includes comparable store and direct-to-consumer sales, increased by 23.7%.

Direct to consumer net sales were down 1.8% compared to the first quarter of fiscal 2021, driven by lower levels of markdown sales and represented 46.4% of sales.

Adjusted EBITDA for the first quarter of fiscal 2022 was $31 million compared to $17 million in the first quarter of fiscal 2021.

“The first quarter exceeded our expectations driven by strong customer response to our assortment and continued execution of our disciplined operating model,” stated Spofford. “As our loyal customer returns to her pre-pandemic lifestyle and events, she is turning to J.Jill to outfit her for these experiences, and we are delighted to deliver the quality and value she expects from the brand. We are well-positioned to deliver against our objectives for this year while continuing to navigate a dynamic macro environment.”

The company closed four stores during the quarter, and ended the period with 249 stores.