JJill Q1 Earnings Top Estimates

  • JJill Inc JILL reported first-quarter FY22 sales growth of 21.7% year-on-year to $157.1 million, beating the consensus of $144.80 million.
  • Total company comparable sales increased by 23.7%. Direct to consumer net sales fell 1.8% Y/Y driven by lower markdown sales.
  • Gross profit grew 24.6% Y/Y to $109.5 million, and the gross margin expanded 170 basis points to 69.7%.
  • The operating margin was 15.2%, and operating income for the quarter jumped 174.7% to $23.9 million.
  • JJill held $40.8 million in cash and equivalents as of April 30, 2022.
  • Adjusted EBITDA for the quarter was $31.3 million versus $16.9 million last year, with the margin expanding from 13.1% to 19.9%.
  • Adjusted EPS of $1.02 beat the consensus of $0.37.
  • Inventory at the end of Q1 increased 6.6% Y/Y to $63.2 million.
  • Outlook: JJill expects Q2 sales growth of 1% - 3% and Adjusted EBITDA of $31 million - $33 million.
  • It sees FY22 capital expenditures of $15 million - $18 million.
  • Price Action: JILL shares are trading higher by 6.10% at $19.13 on the last check Wednesday.

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