J.Jill sales slip by 2.9 per cent in second quarter

(Source: JJillStyle/Facebook)

Lifestyle brand J.Jill’s total sales declined marginally in the second quarter as macroeconomic conditions impacted consumer spending.

For the quarter to July 29, total sales fell 2.9 per cent to $155.7 million while comparable sales which includes both store and direct-to-consumer sales fell 1.3 per cent.

Adjusted EBITDA reached $34.5 million with a gross profit of $111.4 million while income from operations contributed $28 million.

Claire Spofford, president and CEO of J.Jill, said the quarter is an “important period” for the company as it continues to focus on delivering the novelty and styles customer seeks in late spring and summer wardrobes.

“Despite a slower start to the period given customer concerns with the evolving macro environment, we were pleased with how the quarter evolved with trends improving during the period.

“In addition, we continued to execute our disciplined operating model and are pleased with our ending inventory position. As we move into the second half of the fiscal year, we remain focused on delivering on our objectives and further strengthening our foundation to deliver long-term success.”

For the third quarter, the company expects revenue to be down in the low single digits and for adjusted EBITDA to be in the range of $23 million and $25 million.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.