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 October 29, 2022 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) Delawar ...

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 July 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to _____________________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 ...

Financial Data and Key Metrics Changes - The company reported total sales of $160 million for Q2 2022, an increase of 0.7% compared to Q2 2021 [21] - Adjusted EBITDA reached $36 million, or 22.2% of sales, compared to $33 million, or 20.5% of sales in Q2 2021 [25] - Gross profit was $112 million, up $3 million from Q2 2021, with a gross margin of 70.1%, an increase of 150 basis points year-over-year [23] - Cash generated from operations was $28 million for the quarter, with total cash at the end of Q2 amounting to $62 million and no borrowings against the ABL [26] Business Line Data and Key Metrics Changes - Store sales increased by 2% compared to Q2 2021, driven by higher average unit retails through strategic price increases and reduced promotions [21] - Direct sales as a percentage of total sales were 46%, down 0.7% compared to the previous year [22] Market Data and Key Metrics Changes - The company experienced a strong start to the quarter, particularly around Mother's Day, but noted a slowdown in purchasing in the latter part of the quarter as customers had shopped early [8][40] - The company remains optimistic about customer return for fall wardrobe purchases based on feedback from store associates [9][40] Company Strategy and Development Direction - The company is investing in brand awareness and customer base growth, particularly through the "Welcome Everybody" campaign focused on size inclusivity [10][11] - The strategy includes merging missy and women's collections to create a size-integrated shopping experience and enhancing marketing efforts to reach new customers [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed a conservative outlook regarding the consumer landscape but remains confident in leveraging operational disciplines for continued execution of objectives [18] - For Q3 2022, the company projects sales to be flat to down 3% compared to Q3 2021, with adjusted EBITDA expected between $21 million and $23 million [31] Other Important Information - Inventory levels increased by 12% compared to Q2 2021, driven by elevated levels of goods in transit [28] - The company plans to close a net of 10 to 14 stores in fiscal 2022, including the opening of up to two new stores late in the fourth quarter [35] Q&A Session Summary Question: What did you see regarding customer traffic and the Welcome Everybody campaign? - Management noted a slowdown in traffic in the latter half of the quarter, attributing it to early shopping and summer vacations, but expressed optimism for fall purchases [39][40] - Positive feedback was received regarding the Welcome Everybody campaign, with consumers appreciating the extended sizes and price parity [41] Question: What is the expectation for refinancing and its implications? - Management indicated that refinancing is not urgent but is being prepared for when market conditions are favorable [44][45] Question: Any updates on store openings and the environment? - Management confirmed ongoing opportunities for store growth but noted a slight revision down in expected store openings due to lead times and negotiations [46] Question: Can you elaborate on cash flow drivers and working capital? - Cash flow was primarily driven by full-price sales, with inventory investments aimed at ensuring on-time delivery [48]

PART I. FINANCIAL INFORMATION [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2022 consolidated financial statements show significant performance improvement, with net income of $14.4 million and positive operating cash flow [Condensed Consolidated Balance Sheets (Unaudited)](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20%28Unaudited%29) As of April 30, 2022, total assets increased to $463.6 million, liabilities slightly decreased, and shareholders' deficit improved to $30.3 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 30, 2022 | January 29, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $40,839 | $35,957 | | Inventories, net | $63,216 | $56,024 | | Total current assets | $138,786 | $123,248 | | Total assets | $463,582 | $451,849 | | **Liabilities & Shareholders' Deficit** | | | | Total current liabilities | $138,156 | $138,745 | | Long-term debt, net | $202,664 | $202,116 | | Total liabilities | $493,900 | $496,503 | | Total shareholders' deficit | $(30,318) | $(44,654) | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29%20%28Unaudited%29) Q1 2022 reported a significant turnaround with $14.4 million net income, driven by 21.7% net sales growth and improved gross margin Statement of Operations Summary (in thousands, except per share data) | Metric | For the Thirteen Weeks Ended April 30, 2022 | For the Thirteen Weeks Ended May 1, 2021 | | :--- | :--- | :--- | | Net sales | $157,069 | $129,086 | | Gross profit | $109,463 | $87,826 | | Operating income | $23,885 | $8,687 | | Net income (loss) | $14,415 | $(18,308) | | Diluted EPS | $1.02 | $(1.89) | [Condensed Consolidated Statements of Shareholders' Deficit (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Deficit%20%28Unaudited%29) Shareholders' deficit improved from $(44.7) million to $(30.3) million as of April 30, 2022, driven by $14.4 million net income - The shareholders' deficit decreased from **$(44,654) thousand** at the start of the quarter to **$(30,318) thousand** at the end, mainly due to the **$14,415 thousand** in net income[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) Q1 2022 net cash from operations was $7.2 million, a significant improvement from prior year's $4.1 million use, driven by higher net income Cash Flow Summary (in thousands) | Cash Flow Activity | For the Thirteen Weeks Ended April 30, 2022 | For the Thirteen Weeks Ended May 1, 2021 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $7,168 | $(4,133) | | Net cash used in investing activities | $(750) | $(476) | | Net cash (used in) provided by financing activities | $(1,536) | $10,927 | | **Net change in cash** | **$4,882** | **$6,318** | | **Cash, End of Period** | **$40,839** | **$10,725** | [Notes to Condensed Consolidated Financial Statements (Unaudited)](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28Unaudited%29) Notes detail accounting policies, revenue disaggregation, stable goodwill, debt facilities, covenant compliance, and related party transactions - J.Jill is an omnichannel retailer of women's apparel, operating about **250 stores** and a robust e-commerce platform[18](index=18&type=chunk) Disaggregated Revenue by Source (in thousands) | Channel | For the Thirteen Weeks Ended April 30, 2022 | For the Thirteen Weeks Ended May 1, 2021 | | :--- | :--- | :--- | | Retail | $84,212 | $54,916 | | Direct | $72,857 | $74,170 | | **Net revenues** | **$157,069** | **$129,086** | - Goodwill balance was stable at **$59.7 million** as of April 30, 2022, with no impairment losses recorded during the period. Accumulated goodwill impairment losses from prior periods total **$137.3 million**[31](index=31&type=chunk) - Total outstanding debt was **$226.1 million** as of April 30, 2022. The company was in compliance with all financial covenants[36](index=36&type=chunk)[40](index=40&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 2022 performance to 24.0% comparable sales growth, 21.7% net sales increase, expanded gross margin, and significantly higher Adjusted EBITDA - Key factors affecting operating results include overall economic trends, consumer preferences, competition, strategic initiatives like e-commerce enhancement, pricing, and potential changes in tax laws[67](index=67&type=chunk)[68](index=68&type=chunk)[70](index=70&type=chunk) Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands) | Metric | For the Thirteen Weeks Ended April 30, 2022 | For the Thirteen Weeks Ended May 1, 2021 | | :--- | :--- | :--- | | Net income (loss) | $14,415 | $(18,308) | | **Adjusted EBITDA** | **$31,297** | **$16,925** | | Net sales | $157,069 | $129,086 | | **Adjusted EBITDA margin** | **19.9%** | **13.1%** | [Results of Operations](index=18&type=section&id=Results%20of%20Operations) Q1 2022 net sales increased 21.7% to $157.1 million, driven by 24.0% comparable sales growth and improved gross margin to 69.7%, leading to a 175.0% surge in operating income - Net sales increased by **$28.0 million** (**21.7%**) to **$157.1 million**, driven by a **24.0%** increase in total company comparable sales, increased retail traffic, and strong full-price sales[91](index=91&type=chunk) - Gross margin improved to **69.7%** from **68.0%** in the prior year, benefiting from better full-price selling and lower promotional activity[93](index=93&type=chunk) - SG&A expenses increased by **$6.4 million** (**8.1%**), mainly due to a **$3.8 million** increase in management incentive bonus expense and a **$1.4 million** increase in marketing expenses[94](index=94&type=chunk) - The effective tax rate was **25.8%** for Q1 2022, compared to **(8.2%)** for Q1 2021. The prior year's negative rate was due to nondeductible fair value adjustments of warrants and other items[99](index=99&type=chunk) [Liquidity and Capital Resources](index=19&type=section&id=Liquidity%20and%20Capital%20Resources) Primary liquidity sources include $40.8 million cash and $35.5 million ABL Facility availability, with cash flow from operations significantly improving to $7.2 million - As of April 30, 2022, the company had **$40.8 million** in cash and **$35.5 million** of total availability under its ABL Facility[100](index=100&type=chunk) - The maturity date of the ABL Facility was extended from **May 8, 2023**, to **May 8, 2024**, and the benchmark interest rate was changed from LIBOR to SOFR[100](index=100&type=chunk)[47](index=47&type=chunk) Cash Flow Summary (in thousands) | Cash Flow Activity | For the Thirteen Weeks Ended April 30, 2022 | For the Thirteen Weeks Ended May 1, 2021 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $7,168 | $(4,133) | | Net cash used in investing activities | $(750) | $(476) | | Net cash (used in) provided by financing activities | $(1,536) | $10,927 | [Quantitative and Qualitative Disclosures About Market Risk](index=21&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk exposure occurred during Q1 Fiscal Year 2022, consistent with prior Annual Report disclosures - There have been no material changes in the Company's exposure to market risk during the first quarter of Fiscal Year 2022[122](index=122&type=chunk) [Controls and Procedures](index=22&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of April 30, 2022, with no material changes to internal controls during Q1 - The Chief Executive Officer and Chief Financial Officer concluded that as of April 30, 2022, the company's disclosure controls and procedures are effective[123](index=123&type=chunk) - No changes in internal control over financial reporting occurred during the first quarter of Fiscal Year 2022 that have materially affected, or are reasonably likely to materially affect, the company's internal controls[124](index=124&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=23&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to ordinary course legal proceedings, none of which are expected to have a material adverse effect on its financial condition or operations - Management does not believe the company is party to any legal proceedings that would have a material adverse effect on its business, financial condition, operating results, or cash flows[127](index=127&type=chunk) [Risk Factors](index=23&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors occurred as of the date of this Quarterly Report - As of the date of this Quarterly Report, there have been no material changes to the risk factors previously disclosed in the 2021 Annual Report[128](index=128&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=23&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds were reported for the period - None[129](index=129&type=chunk) [Defaults Upon Senior Securities](index=23&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported for the period - None[130](index=130&type=chunk) [Mine Safety Disclosures](index=23&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[131](index=131&type=chunk) [Other Information](index=23&type=section&id=Item%205.%20Other%20Information) No other information was reported for the period - None[132](index=132&type=chunk) [Exhibits](index=23&type=section&id=Item%206.%20Exhibits) Exhibits listed in the Exhibit Index are filed or furnished as part of this Quarterly Report - The exhibits listed on the Exhibit Index are filed or furnished as part of this Quarterly Report[133](index=133&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 29, 2022 (Exact name of Registrant as specified in its Charter) | Delaware | 45-1459825 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 4 Batterymarch Park Quincy, MA | 02169 | | (Address of principal executive offic ...

Financial Data and Key Metrics Changes - Fiscal 2021 saw total sales grow to $585 million, a 37% increase compared to 2020, with gross margin improving by 980 basis points versus 2020 and 540 basis points compared to 2019 [5][17] - Adjusted EBITDA for fiscal 2021 reached $92 million, reflecting a significant year-over-year increase and a 620 basis point expansion compared to pre-COVID 2019 levels [6][17] - Q4 total company sales were $145 million, up 15% from Q4 2020, but down 14% compared to Q4 2019 [21][22] Business Line Data and Key Metrics Changes - Store sales in Q4 increased over 62% compared to Q4 2020, but were down 21% compared to 2019 levels [22] - Direct sales accounted for 52% of total sales in Q4, down 9% from the previous year due to lower markdown sales, partially offset by higher full-price sales [23] Market Data and Key Metrics Changes - Store traffic was negatively impacted by the Omicron variant during the holiday season but showed recovery later in January as cases declined [9] - The company ended the year with inventory levels down 3.5% compared to the end of 2020, indicating a healthier balance of full-price versus markdown units [26] Company Strategy and Development Direction - The company aims to modernize the J.Jill brand and value proposition, attract new customers through strategic marketing, and drive growth in high-potential sub-brands like Pure Jill and J.Jill Fit [13] - Future growth will focus on disciplined inventory and expense management, with plans for new store openings in high-potential locations [12][32] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver continued traction and results despite macro-related headwinds, emphasizing a disciplined approach to managing the business [15] - The company expects sales growth of 11% to 14% in Q1 2022 compared to Q1 2021, with adjusted EBITDA projected between $20 million and $22 million [28] Other Important Information - Capital expenditures for the year are expected to increase to between $15 million and $18 million, focusing on technology investments and new store openings [33][61] - The company plans to close approximately 10 stores in fiscal 2022 while selectively reviewing opportunities for new store openings [32] Q&A Session Summary Question: Inventory levels and their impact on sales - Management acknowledged that lower inventory levels constrained sales in Q4 but emphasized the importance of reducing markdowns as part of their operating model strategy [40][41] Question: Freight expenses and product strength - Management indicated that freight expenses are expected to remain elevated in the first half of the year, while product categories like dresses and travel outfits are seeing strong demand [51][56] Question: Employee turnover and labor market challenges - Management reported a relatively low turnover rate and successful talent acquisition despite a tight labor market [72][73] Question: Consumer health amid inflation - Management noted that their consumer base remains strong and less susceptible to inflationary pressures, with no significant impact on business observed so far [76][77] Question: Plans for excess cash and debt management - Management expressed interest in improving the capital structure and reducing debt, while also considering options for utilizing excess cash [78][79]

(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 30, 2021 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) Delawar ...

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 J.Jill, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 45-1459825 (State or other jurisdiction of incorporation or organization) 4 Batterymarch Park, Quincy, MA 02169 02169 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (617) 376-4300 Securities regi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 1, 2021 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 45- ...

Sales Channels - J.Jill's Retail channel represented 34.5% of net sales for Fiscal Year 2020, down from 56.3% in Fiscal Year 2019 due to the impact of the COVID-19 pandemic [25]. - The Direct channel accounted for 65.5% of total net sales for Fiscal Year 2020, with ecommerce making up approximately 93% of Direct channel net sales [30]. - Omnichannel customers comprised 21% of the active customer base in Fiscal Year 2020, showing a slight increase from 22% in Fiscal Year 2019 and 2018 [19]. Customer Demographics - The average targeted customer is 45 years and older, college-educated, with an annual household income of approximately $150,000 [18]. - In Fiscal Year 2020, 53% of gross sales were generated by credit card holders, indicating strong customer loyalty and engagement [46]. - The company aims to attract new customers and retain existing ones by refining its brand position to appeal to women aged 45 and older, a relatively underserved demographic [38]. Store Operations - J.Jill operates 267 stores across 42 states as of January 30, 2021, with store sizes ranging from approximately 2,000 to 6,000 square feet [25]. - New store openings have been primarily in lifestyle centers, with no new stores opened in Fiscal Year 2020, maintaining a total of 267 stores [29]. Product Development - The company introduced merchandise collections approximately every six to eight weeks, with a new product development lifecycle typically taking 48 weeks from design concept to delivery [23]. - Approximately 80% of products were sourced through agents, while 20% were sourced directly from suppliers and factories in Fiscal Year 2020 [47]. - The company has no long-term merchandise supply contracts, allowing for flexibility in sourcing and product development [49]. Marketing and Customer Engagement - The company’s catalogs are a primary marketing vehicle, designed in-house to promote brand image and drive customer engagement across channels [44]. - J.Jill's customer database allows for tracking approximately 98% of transactions to identifiable customers, enhancing targeted marketing efforts [34]. - The customer contact center managed approximately 4.3 million customer interactions in Fiscal Year 2020, serving as a critical feedback loop for the brand [51]. Operational Performance - The distribution center handled 31 million units in Fiscal Year 2020, with 12 million units (39%) for retail and 19 million units (61%) for direct sales [50]. - The company employed 1,169 full-time and 1,743 part-time associates as of January 30, 2021, reflecting a robust workforce to support operations [55]. Financial Risks - A 10% change in the current interest rate would have affected net income by $1.1 million during Fiscal Year 2020, highlighting interest rate risk exposure [263]. Future Plans - The company plans to enhance its website to provide a more personalized shopping experience, aiming to broaden customer reach and drive additional sales [39]. - The company has a well-diversified omnichannel platform that aims to deliver a seamless brand experience across retail stores, website, and catalogs [24]. Brand Positioning - The brand emphasizes a differentiated image that fosters deep connections with customers, focusing on comfort, ease, and versatility in its product offerings [16].