J.Jill (JILL) Q3 EPS Guidance Misses Views

J.Jill, Inc. (NYSE: JILL) today announced that the company is updating its guidance for the third quarter ending October 28, 2017.

Paula Bennett, President and CEO of J.Jill, Inc., stated: “We have experienced a lower than expected sales trend across both our retail and direct channels, and are updating our guidance for the quarter. We have been assessing the change in trend and have identified product and marketing calendar issues that are affecting traffic and conversion, and we are reacting quickly.”

For the third quarter 2017, the company now expects total company comparable sales of -3% to -5%, with a moderate decline in gross margin as compared to last year. The company also now expects GAAP diluted EPS of $0.07 to $0.09, and adjusted diluted EPS of $0.08 to $0.10 for the third quarter 2017. Adjusted diluted earnings per share excludes approximately $0.6 million of non-recurring expenses associated with the company’s transition to a public company.

(Street sees Q3 EPS of $0.19 on revenue of $173.88 million)

Ms. Bennett continued: “Given our long track record of consistent sales and earnings growth driven by a strong connection with our customers, we are very disappointed with our soft sales trend. I am confident in the actions we are taking to regain momentum and once again delight our customer with the product and service experience she expects from us.”

The company will provide its outlook for the fourth quarter and a revised outlook for the full fiscal year of 2017 when it reports third quarter results on December 5th.

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