Financial Performance - Q3 FY24 net sales increased by 0.3% to $151.3 million compared to $150.9 million in Q3 FY23, benefiting from a calendar shift[4] - Total company comparable sales decreased by 0.8% in Q3 FY24, impacted by approximately 50 basis points due to hurricane-related disruptions[4] - Direct to consumer net sales represented 45.7% of total net sales and increased by 0.3% compared to Q3 FY23[4] - Gross margin for Q3 FY24 was 71.4%, down from 72.0% in Q3 FY23[4] - Operating income for Q3 FY24 was $19.2 million, with an operating income margin of 12.7%, compared to $22.1 million and 14.7% in Q3 FY23[4] - Net income for Q3 FY24 was $12.3 million, an increase from $11.6 million in Q3 FY23[4] - For FY24, the company anticipates net sales to be flat to up 1% compared to FY23, with Adjusted EBITDA expected to decline by 5% to 7%[12] - Net income for the thirteen weeks ended November 2, 2024, was $12,348 thousand, compared to $11,616 thousand for the same period in 2023, representing an increase of 6.3%[35] - Adjusted EBITDA for the thirteen weeks ended November 2, 2024, was $26,808 thousand, down from $28,552 thousand in the prior year, reflecting a decrease of 6.1%[35] - For the thirty-nine weeks ended November 2, 2024, net income was $37,235, compared to $31,434 for the same period last year, indicating a year-over-year increase of 18.4%[49] Future Outlook - The company expects Q4 FY24 net sales to decline by 4% to 6% compared to the 14-week Q4 FY23[11] - The company authorized a share repurchase program for up to $25.0 million over the next 2 years, reflecting confidence in long-term opportunities[9] Store Operations - The company opened three new stores in Q3 FY24, maintaining a total store count of 247[5] Cash Flow and Investments - The company reported a net cash provided by operating activities of $19,067 for the thirteen weeks ended November 2, 2024, down from $21,067 in the prior year, a decrease of 9.5%[51] - Free cash flow for the thirteen weeks ended November 2, 2024, was $13,580, compared to $17,412 for the same period last year, reflecting a decline of 22.1%[52] - The company reported a net cash used in investing activities of $(5,487) for the thirteen weeks ended November 2, 2024, compared to $(3,655) in the prior year, indicating an increase in investment spending[51] Equity and Compensation - Total shareholders' equity increased significantly from $37,218 million to $103,261 million, an increase of approximately 177.5%[33] - Equity-based compensation expense for the thirteen weeks ended November 2, 2024, was $1,726 thousand, compared to $942 thousand in the prior year, an increase of 83.3%[41] - The company incurred equity-based compensation expenses of $4,676 for the thirty-nine weeks ended November 2, 2024, compared to $2,757 in the prior year, an increase of 69.5%[49] Non-GAAP Measures - Adjusted EBITDA is used as a key performance measure, although it is a non-GAAP financial metric and should not be considered a substitute for GAAP measures[19] - The company emphasizes the importance of reviewing reconciliations of non-GAAP measures to GAAP measures for a comprehensive understanding of financial performance[20] - Adjusted net income for the thirteen weeks ended November 2, 2024, was $13,844, compared to $12,028 for the same period last year, representing a year-over-year increase of 15.2%[46] - Adjusted net income per share (diluted) increased to $0.89 for the thirteen weeks ended November 2, 2024, up from $0.83 in the prior year, reflecting a growth of 7.2%[46] - Adjusted income from operations for the thirteen weeks ended November 2, 2024, was $21,371 thousand, compared to $22,477 thousand in the prior year, a decrease of 4.9%[41] - The adjusted tax provision for adjusted net income was estimated at 27.2% for the thirty-nine weeks ended November 2, 2024, compared to 27.9% for the thirty-nine weeks ended October 28, 2023[49] Assets and Liabilities - Total current assets decreased from $138,129 million to $125,811 million, a decline of approximately 8.5%[33] - Total liabilities decreased from $390,962 million to $314,995 million, a reduction of approximately 19.4%[33] - Current portion of long-term debt decreased from $35,353 thousand to $2,188 thousand, a decline of approximately 93.8%[33] Miscellaneous - The company experienced a loss due to hurricane amounting to $252 for the thirteen weeks ended November 2, 2024, with no such loss reported in the prior year[46]

Core Viewpoint - J.Jill's stock fell nearly 40% following a reduction in guidance despite a slight growth in comparable sales, indicating concerns about future traffic trends and overall revenue performance [2][3]. Group 1: 2Q24 Results and Guidance - J.Jill reported a 0.9% year-over-year decline in revenues, but a 1.7% growth on a comparable basis, which is relatively positive in the current apparel market context [3]. - The company experienced a deceleration in growth from 3% in Q1 to 1.7% in Q2, with management warning of worsening traffic trends in July and August [3]. - Guidance for Q3 comparables has been reduced to a decline of 0.5%, with adjusted EBITDA expectations now down between 3% and 9% [3]. - Gross margins are expected to be challenged in the second half of 2024 due to declining sales and increased inventory levels, which rose 15% year-over-year [3]. - SG&A expenses increased by $2 million in Q2 due to wage inflation and other costs, with a total impact of $3.4 million for the year [3]. Group 2: Capital Structure and Financial Health - The company issued 1 million shares at $31 each to repay debts, reducing net debt from $94 million to $44.5 million [3][4]. - Despite reducing financial risk, the company still maintains leverage at high interest rates, with a term loan yielding 13% [4][5]. - The decision to implement a $0.07 quarterly dividend while holding debt has raised questions about capital allocation strategies [3][4]. Group 3: Valuation and Market Position - J.Jill's market capitalization is approximately $365 million, with an enterprise value of around $410 million, reflecting a decrease due to debt repayments [4]. - Expected adjusted EBITDA for the year is projected to be between $101 million and $108 million, leading to a net income range of $47 million to $52 million [4][5]. - The current EV/NOPAT is about 7.2x and P/E is approximately 7.3x, indicating a current earnings yield of 14%, which is considered reasonable but reflects the company's reliance on revenue growth [4][5].

Core Insights - J. Jill Inc reported better-than-expected earnings and sales results for Q2, but lowered its 2024 forecast [1][3] - The company experienced a 0.9% year-over-year decline in Q2 sales, totaling $155.24 million, which exceeded analyst expectations [1] - Comparable sales increased by 1.7%, with direct-to-consumer net sales rising by 3.6%, making up 47.1% of total sales [1] Financial Performance - Adjusted EPS for the second quarter was $1.05, surpassing the consensus estimate of $0.91 [1] - The company expects net sales for 2024 to be flat to up 1%, a revision from a prior growth estimate of 1% to 3% [3] - Adjusted EBITDA is projected to decline by 4% to 9%, compared to a previous forecast of a 1% to 3% decline [3] Analyst Ratings and Price Targets - Following the earnings announcement, J. Jill shares fell by 1.6% to $26.36 [3] - TD Cowen analyst Jonna Kim maintained a Hold rating and reduced the price target from $37 to $32 [5] - Telsey Advisory Group analyst Dana Telsey also maintained a Market Perform rating, cutting the price target from $38 to $31 [5] - The consensus price target for J. Jill is $38.17, with a high of $44 and a low of $31 from various analysts [6] - Recent analyst ratings suggest an average price target of $33.67, indicating a potential upside of 27% from current levels [6]

hapabapa J.Jill, Inc. (NYSE:JILL), the women's apparel retailer with operations in the United States, reported the company's fiscal Q2 results, ending August 3rd, on the 4th of September in pre-market hours showing a stable performance in the quarter despite weakness across the industry amid a weak consumer sentiment. While Q2 financials came in above the expected level, the market reacted very negatively with a -17% stock decline due to JILL's lowered FY2024 guidance. In my previous article on the stock, " ...

J.Jill, Inc. (NYSE:JILL) Q2 2024 Earnings Conference Call September 4, 2024 8:00 AM ET Company Participants Claire Spofford - President & CEO Mark Webb - EVP, CFO & COO Conference Call Participants Ryan Meyers - Lake Street Capital Markets Corey Taylor - Jefferies Dylan Carden - William Blair Dana Telsey - Telsey Group Janine Stichter - BTIG Jonna Kim - TD Cowen Marni Shapiro - The Retail Tracker Operator Thank you for Standing by, and Welcome to the J.Jill Inc's Second Quarter 2024 Earnings Conference Call ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 3, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _____________________ Commission File Number: 001-38026 J.Jill, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware ...

J.Jill (JILL) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $1.10 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.70%. A quarter ago, it was expected that this retailer of women's clothes, shoes and accessories would post earnings of $1.14 per share when it actually produced earnings of $1.22, delivering a surprise of 7.02%. Over th ...

EXHIBIT 99.1 J.JILL, INC. ANNOUNCES SECOND QUARTER 2024 RESULTS Q2 FY24 Net Sales of $155.2 Million, Total Company Comparable Sales Up 1.7% vs. Q2 FY23 Q2 FY24 Gross Margin of 70.5% Q2 FY24 Operating Income of $23.0 Million; Operating Income Margin of 14.8% Quincy, MA – September 4, 2024 – J.Jill, Inc. (NYSE:JILL) today announced financial results for the second quarter of fiscal year 2024. Claire Spofford, President and Chief Executive Officer of J.Jill, Inc. stated, "We delivered solid second quarter resu ...

J.Jill, Inc. (JILL) is expected to register year-over-year declines in the bottom and top lines when it reports second-quarter fiscal 2024 results on Sep. 4. The Zacks Consensus Estimate for quarterly revenues is pegged at $155.1 million, indicating a dip of 0.3% from the prior-year number. The consensus estimate for earnings is pegged at 94 cents per share, indicating a decrease of 14.6% from the year-ago quarter's figure. The consensus mark for earnings has gone down a penny in the past 30 days. In the la ...

J.Jill (JILL) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 4. On th ...