Women's Apparel Stock J. Jill Gains Despite A Q2 Sales Decline Across 245 Stores
Portfolio Pulse from Akanksha Bakshi
J. Jill, Inc. reported a Q2 2023 sales decline of 2.9% YoY to $155.7 million, missing the consensus of $152.4 million. Total company comparable sales decreased by 1.3% and direct-to-consumer net sales were down 5.1%. Adjusted EPS was $1.10, beating the consensus of 80 cents. The company expects Q3 revenues to be down in the low single digits YoY, with an adjusted EBITDA of $23 million-$25 million. Despite the sales decline, JILL shares are trading higher by 4.74% to $24.52.
August 31, 2023 | 3:04 pm
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POSITIVE IMPACT
J. Jill reported a Q2 sales decline but its shares are trading higher. The company expects Q3 revenues to be down in the low single digits YoY.
Despite the reported sales decline, J. Jill's stock is trading higher, indicating that investors may have anticipated worse results or are focusing on other aspects of the report, such as the better-than-expected EPS. The company's outlook for Q3 could potentially impact the stock negatively in the short term, but the current market reaction suggests a positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100