J.Jill reports FY19 sales of $691 mn

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.

 

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.#

“Our fourth quarter results exceeded our expectations as we continued to make progress in balancing a reduction in our inventory levels while maintaining discipline with our bottom line. While pleased to end the year with inventories better positioned, we continue to see great opportunity to instill further operating disciplines within the business,” James Scully, interim chief executive officer of J.Jill, said in a press release.

 

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.#

Gross profit decreased to $100.0 million from $107.8 million in the fourth quarter FY18. Selling general & administrative (SG&A) expenses in Q4 FY19 rose to $101.0 million compared to $99.8 million in same period prior year. Income from operations decreased to a loss of $37.0 million from income of $8.0 million in the fourth quarter of fiscal 2018. Net income in the quarter decreased to a loss of $38.6 million compared to an income of $2.1 million in Q4 FY18.

 

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.#

SG&A rose over the year to $409.1 million compared to $399.0 million in prior fiscal. Income from operations registered a loss of $112.0 million from income of $61.2 million in FY18. Net income also reported a loss of $128.6 million in FY19 compared to an income of $30.5 million.

 

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.#

“We have entered fiscal 2020 with strong focus on gross margin stabilisation and recovery driven by enhanced inventory discipline and improved product assortments,” Scully said.

 

J.Jill, a premier omnichannel retailer and women's apparel brand, reported slight reduction in its fourth quarter (Q4) FY19 results to $168.1 million (Q4 FY18: $170.9 million). Sales in full fiscal 2019 ended on February 2, 2020 fell to $691.3 million (FY18: $706.3 million). Gross profit in FY19 was $428.6 million compared to $460.3 million prior year.#

For the full 2020 fiscal, J.Jill expects total comparable sales to decrease 3-5 per cent compared to a decrease of 3.2 per cent (as adjusted) for the full FY19. Total net sales are expected to decrease 2-4 per cent in FY20.