J.Jill posts flat sales in third quarter, expects trend to continue 

(Source: J.Jill)

Lifestyle brand J.Jill reported net sales of $150.1 million for the third quarter, down 0.1 per cent year over year.

Total company comparable sales, which includes comparable store and direct to consumer sales, rose 1.9 per cent, while gross profit was $107.8 million compared to $105.0 million in the year-ago period.

The company did not open any new stores during the quarter, with store count remaining at 245.

For the nine months ended October 28, total net sales were down 2.7 per cent to $455.2 million.

“Our performance continues to reflect the disciplined execution of our business by the team especially amidst a very dynamic consumer environment,” said Claire Spofford, president and CEO of J.Jill.

The company expects revenues to continue to be flat in the fourth quarter, while full-year adjusted EBITDA is forecast to be down in the low-single digits.

“As we look to the remainder of the year, while we have seen our customer become more discerning with her spend, we believe we are well positioned to deliver on our objectives for the year,” said Spofford.

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