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J.Jill shares jump after fiscal 3Q earnings beat Street on a revenue surge

CEO Linda Heasley said the women’s apparel retailer saw ‘positive sales momentum’ and lower inventory levels than last year

A J.Jill storefront
The Quincy, Massachusetts women’s apparel retailer operates approximately 270 stores

J.Jill Inc (NYSE: JILL) shares soared Wednesday after the women's apparel store chain handily beat Wall Street analyst estimates for its fiscal third quarter on strong revenues.

For the quarter ended October 2018, the Quincy, Massachusetts-based company reported earnings of $0.15 per share on revenue of $174.1 million. This easily topped consensus earnings estimate of $0.09 per share on revenue of $167.0 million. Revenue grew 7.5% on a year-over-year basis.

Shares in J.Jill jumped 12% to $5.60.

READ: J.Jill shares drop on news chief executive and president to retire

“Our third quarter results demonstrated progress on our near-term initiatives, including recent enhancements to our e-commerce site and a renewed emphasis on our product assortment,” J.Jill CEO Linda Heasley said in a statement. “We had positive sales momentum, our inventory levels are lower than last year, and our e-commerce business benefited from the enhancements we delivered during the year.”

The company is now expecting fourth-quarter earnings per share of breakeven to 2 cents on revenue of $166 million to $169.8 million. The decline is partly due to the calendar shift that created an extra week in the year-earlier period.

The current consensus earnings estimate is $0.06 per share on revenue of $175.6 million for the quarter ending January 31, 2019.

 

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

Quick facts: J Jill Inc

Price: 1.04 USD

NYSE:JILL
Market: NYSE
Market Cap: $45.8 m
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