Fri, Jun 7, 12:56 PM (92 days ago)
J.Jill, Inc. reported a solid financial performance for the quarter ended May 4, 2024. Net sales increased by 7.5% year-over-year to $161.5 million, driven by a 3.1% rise in comparable sales and a $7.0 million benefit from a calendar shift. Gross profit rose by 8.6% to $117.7 million, with gross margins improving to 72.9% from 72.1%, primarily due to a stronger mix of full-price sales. SG&A expenses grew by 7.4% to $89.1 million, consistent as a percentage of net sales at 55.2%. The company recorded a net income of $16.7 million, up from $4.6 million in the prior year, resulting in diluted EPS of $1.16. Cash flow from operations was robust at $21.5 million, significantly higher than the $7.9 million in the previous year. J.Jill also made a voluntary principal prepayment of $58.2 million on its Term Loan Credit Agreement, reflecting strong liquidity and financial health. The company declared an initial quarterly dividend of $0.07 per share, indicating confidence in future cash flows.