J. Jill Group Q1 Profit Up, Beats Estimates; Improves Sales Outlook - Update

(RTTNews) - (Adds Outlook, share movement)

Looking ahead, for the second quarter, J.Jill, Inc. (JILL) expects adjusted EBITDA of $27 million to $30 million, with sales growth of flat to down 3 percent. This incorporates around $7 million negative impact from the calendar shift.

For the full year, the company has revised up its sales outlook and now expects sales growth of 1 percent to 3 percent against previous expectation for flat to up in the low-single digit sales growth.

Annual adjusted EBITDA is projected to fall in the range of 1 percent to 3 percent. This guidance reflects the negative impact from the loss of the 53rd week in the fiscal 2023 of $7.9 million in sales and $2.2 million in adjusted EBITDA as well as investments to support profitable sales growth.

JILL was trading up by 5.08 percent at $37 in the pre-market trade on the New York Exchange.

Q1 Results:

J. Jill Group Inc (The) (JILL) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $16.696 million, or $1.16 per share. This compares with $4.596 million, or $0.32 per share, in last year's first quarter.

Excluding items, J. Jill Group Inc (The) reported adjusted earnings of $17.582 million or $1.22 per share for the period.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $161.513 million from $150.246 million last year.

J. Jill Group Inc (The) earnings at a glance (GAAP) :

-Earnings (Q1): $16.696 Mln. vs. $4.596 Mln. last year. -EPS (Q1): $1.16 vs. $0.32 last year. -Revenue (Q1): $161.513 Mln vs. $150.246 Mln last year.