Index falls as earnings results weigh; pound above $1.33, Bodycote soars
NEW YORK - J.Jill Inc. (NYSE:JILL) reported first quarter earnings that beat analyst estimates, while revenue fell short of expectations as the women’s apparel retailer navigated a challenging macroeconomic environment.
The company’s stock was unchanged in pre-market trading following the earnings release.
The company posted adjusted earnings per share of $0.88 for the first quarter, edging past the analyst consensus of $0.87. Revenue came in at $153.6 million, below the $158.7 million analysts were expecting and down 4.9% YoY.
"The fundamentals of this business are solid with a lean operating model, strengthening omni-channel capabilities, and a team committed to excellence," said Mary Ellen Coyne, J.Jill’s new CEO and President who joined in early May.
Comparable sales, including stores and direct-to-consumer, decreased 5.7% in Q1. Direct-to-consumer net sales, representing 46.7% of total sales, declined 5.4% compared to last year.
Gross margin contracted to 71.8% from 72.9% in the prior year quarter. Operating income fell to $19.1 million from $28.4 million a year ago.
For fiscal 2025, J.Jill updated its outlook for capital expenditures to $20-$25 million and expects to open 1-5 net new stores. The company withdrew its prior full-year guidance citing increased macroeconomic uncertainty and its recent leadership transition.
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