Shares of J. Jill Inc. dropped 37.6 percent in after-market trading after the company lowered third-quarter guidance due to lackluster sales because of some merchandise misses.The company said it expects total company comparable sales of minus 3 to minus 5 percent, and generally accepted accounting principles diluted earnings per share of 7 cents to 9 cents, or between 8 cents and 10 cents on an adjusted basis. Adjusted diluted EPS excludes about $600,000 of non-recurring expenses connected with the firm’s transition to a public company in March.The lowered guidance compared with earlier projections in August — when the company posted second-quarter results — of comps up in the high-single digits, and GAAP diluted EPS in the range of 17 cents to 19 cents. Adjusted EPS was guided to between 18 cents and 20 cents.Paula Bennett, president and chief executive officer, said, “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.”Jill has had a number of promotions in the last few weeks, an indication that the company has already implemented plans to move through slow-selling product.One source said the problem in September was that the company misjudged what would sell and what wouldn’t, noting that it quickly sold out of some key items and didn’t have enough on hand to offset the “significant misses” in other categories, such as woven tops where the company invested heavily on inventory.The company said it will provide fourth-quarter outlook on Dec. 5 when it posts third-quarter results, as well as a revised outlook for fiscal-year 2017.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.