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Thursday, May 30, 2019

=J. Jill (JILL) reported earnings on Thur 30 May 19 (b/o)

J. Jill misses by $0.07, misses on revs; guides Q2 revs in-line; lowers FY20 EPS, revenue, and comp guidance; Q1 comps -3.3% 
  • Reports Q1 (Apr) earnings of $0.10 per share, $0.07 worse than the S&P Capital IQ Consensus of $0.17; revenues fell 2.8% year/year to $176.4 mln vs the $179.93 mln S&P Capital IQ Consensus.
  • Total company comparable sales, which includes comparable store and direct to consumer sales, decreased by 3.3%.
  • Co issues guidance for Q2, sees EPS of ($0.10) - ($0.08), may not be comparable to $0.21 S&P Capital IQ Consensus; sees Q2 revs of (1%) to 1% to $177.9-181.5 mln vs. $180.19 mln S&P Capital IQ Consensus.  Co sees Q2 comps declining 1-3%
  • Co issues lowered guidance for FY20, sees EPS of $0.17-0.21 from $0.75-0.80 vs. $0.69 S&P Capital IQ Consensus; sees FY20 revs of decline of 2-4% (prior guidance "slightly positive) to $678.1-691.9 mln vs. $713.91 mln S&P Capital IQ Consensus. Co sees FY19 comp guidance flat to negative 2% (prior guidance called for flat comps).
  • Linda Heasley, President and CEO of J.Jill, Inc. stated, "We are disappointed with our first quarter performance and are taking immediate actions to clear excess inventory and position the business for improved results in the second half of the year. We are early in the process of executing against our updated long-term strategies, and our new leadership team across key areas of the business is now in place and will begin to have greater impacts on the business."

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