J Jill, a US-based omnichannel retailer and nationally recognised women’s apparel brand, reported 41.9 per cent sales increase to $129.1 million in its first quarter (Q1) FY21 ended on May 1, 2021, compared to sales of $90.9 million in the corresponding quarter of prior fiscal. The company incurred a net loss of $18.3 million (Q1 FY20: $70.3 million).
J Jill, a US-based omnichannel retailer and nationally recognised women's apparel brand, reported 41.9 per cent sales increase to $129.1 million in its first quarter (Q1) FY21 ended on May 1, 2021, compared to sales of $90.9 million in the corresponding quarter of prior fiscal. The company incurred a net loss of $18.3 million (Q1 FY20: $70.3 million).#
“Our first quarter results reflect encouraging progress against initiatives focused on strengthening the operating model and driving healthy margin recovery. Our performance also benefited from the strong rebound in consumer activity this spring particularly as we anniversaried last year’s temporary store closures,” Claire Spofford, president and chief executive officer of J Jill, said in a press release.
J Jill, a US-based omnichannel retailer and nationally recognised women's apparel brand, reported 41.9 per cent sales increase to $129.1 million in its first quarter (Q1) FY21 ended on May 1, 2021, compared to sales of $90.9 million in the corresponding quarter of prior fiscal. The company incurred a net loss of $18.3 million (Q1 FY20: $70.3 million).#
Gross profit for Q1 FY21 was $87.8 million ($50.1 million), while selling, general and administrative expenses were $79.1 million ($87.9 million). The company’s operating profit was $8.7 million (loss: $89.7 million).
J Jill, a US-based omnichannel retailer and nationally recognised women's apparel brand, reported 41.9 per cent sales increase to $129.1 million in its first quarter (Q1) FY21 ended on May 1, 2021, compared to sales of $90.9 million in the corresponding quarter of prior fiscal. The company incurred a net loss of $18.3 million (Q1 FY20: $70.3 million).#
“As we enter the second quarter, we are pleased with the momentum we are seeing in the business especially over the strong Mother’s Day weekend. Looking ahead, we expect to build on the progress we are making as we refine our operating model and drive efficiencies across the business,” Spofford said.
Fibre2Fashion News Desk (JL)
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