J.Jill, Inc. Updates Financial Outlook Ahead of Investor Meeting

Financial Guidance Reaffirmed by J.Jill, Inc.

J.Jill, Inc. (NYSE:JILL) has reaffirmed its financial outlook for the fourth quarter and the entire fiscal year of 2024 as it prepares for a significant participant role at an upcoming investor conference. This proactive measure aims to keep stakeholders informed on the company’s anticipated performance amid ongoing market dynamics.

Quarterly Expectations

As we approach the fourth quarter of fiscal 2024, J.Jill anticipates net sales to decline between 4% to 6% compared to the previous 14-week fourth quarter of fiscal 2023. Despite this, the company expects total comparable sales to rise by 1% to 3% over the 13-week comparable period from the prior fiscal year.

Adjusted EBITDA Forecast

Adjusted EBITDA is projected to fall within the range of $12.0 million to $14.0 million, reflecting the company's commitment to maintaining profitability while adapting to changing market conditions.

Annual Sales Outlook

For the entirety of fiscal 2024, J.Jill projects net sales will remain flat or increase by 1% when compared to fiscal 2023. Additionally, total comparable sales are expected to rise by 1% to 2% across the year, showcasing an optimistic outlook for customer engagement and brand loyalty.

Investments for Growth

The forecast for net sales and Adjusted EBITDA also incorporates the company's strategic investments to bolster profitable sales growth. Notably, included in this guidance is the effect of losing the additional 53rd week in fiscal 2023, which accounted for a loss of $7.9 million in net sales and $2.2 million in Adjusted EBITDA, in addition to approximately $2.0 million in operating expenses directed towards enhancing the company’s Order Management System.

Strategic Initiatives Moving Forward

When excluding the impacts of the previous year's 53rd week and the operational expenditures related to the OMS project, J.Jill anticipates seeing fiscal 2024 net sales increase by approximately 1% to 2%. Conversely, Adjusted EBITDA might see a slight decrease, estimated between 2% to 4% compared to the previous year. These insights indicate the company's focus on refining its operational efficiencies while maintaining a stable growth trajectory.

Fireside Chat at ICR Conference

J.Jill is gearing up for their participation in a fireside chat at the renowned ICR Conference. This event is scheduled for a date early in January 2025, where company executives will engage with investors and analysts to discuss their strategies and financial outlook comprehensively.

Availability of Online Archive

The fireside chat's audio will be available for streaming on the company's Investor Relations website, ensuring stakeholders can access this important financial discussion following the event.

About J.Jill, Inc.

J.Jill is more than just a national lifestyle brand focused on apparel; it represents a way for women to embrace their lives with ease and style. With over 200 stores spread across the nation and a comprehensive e-commerce platform, J.Jill is dedicated to offering high-quality clothing, footwear, and accessories tailored to real women's lives. The brand is built around the ethos of simplicity and meaningful design, striving to create an inviting and supportive customer experience.

Connecting with the Brand

As J.Jill continues to enhance its brand presence, engaging with customers is a fundamental aspect of its operations. The company's headquarters located outside of Boston serves as the hub for fostering community connections and empowering women through stylish yet practical choices.

Frequently Asked Questions

What is J.Jill's financial forecast for 2024?

J.Jill expects net sales to be flat to up by 1% and total comparable sales to increase by 1% to 2% compared to fiscal 2023.

What are Adjusted EBITDA expectations?

The company projects Adjusted EBITDA to be between $105 million and $107 million for fiscal 2024.

Why does J.Jill foresee declining net sales for Q4?

This decline is attributed to a comparison with a previous four-week quarter of sales and the impacts of company strategy adjustments.

What event is J.Jill participating in for investor engagement?

J.Jill is attending the 27th Annual ICR Conference in January, where executives will outline company strategies.

How can stakeholders engage with J.Jill?

Stakeholders can follow the audio from the upcoming fireside chat on the company's Investor Relations website for updates on their financial strategies.

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