Despite a second-quarter beat, investors were not happy with J. Jill Inc.’s third-quarter guidance.
For the three months ended Aug. 4, the company reported a 12.6 percent decline in net income to $10.5 million, or 23 cents a diluted share, from $12 million, or 28 cents, a year ago. On an adjusted basis, excluding nonrecurring expenses, diluted earnings per share were 24 cents. Net sales slipped 0.9 percent to $179.7 million from $181.4 million, attributable mostly to a calendar shift in 2017 that created 53 weeks for the year. The company said total comparable-store sales rose 2.2 percent. Direct-to-consumer net sales represented 40.9 percent of total net sales for the quarter, down from 43.1 percent a year ago. Further gross margin in the quarter was 64.9 percent, a decline from 67.6 percent a year ago.
Are you ready for Goop TV? According to sources, the lifestyle site founded by Gwyneth Paltrow has inked a deal with Netflix to create a new wellness-inspired show.
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“As long as [companies] are peopled by humans, there’s always that opportunity [for authenticity.] When that doesn’t happen, it’ll hurt your [brand],” he says. “We’re human beings. Human meaning flesh, being meaning spirit. As long as we have that, there is the opportunity for growth and elevation.” — Pharrell Williams, WWD Original.
The Paris men’s calendar just gained another heavy hitter: Celine will stage a show in January, mere months after creative director Hedi Slimane launched its men’s wear division during a coed show on Sept. 28. 📸: @thekateowen
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