Why Is Women's Apparel Company J.Jill Stock Shooting Higher Today?
Portfolio Pulse from Shivani Kumaresan
J.Jill Inc (NYSE:JILL) shares are trading higher after the company reported better-than-expected first-quarter FY24 earnings and raised its outlook. The company saw a 7.5% increase in sales, a 3.1% rise in comparable sales, and an 11.6% growth in direct-to-consumer net sales. Gross profit grew by 8.6%, and the gross margin expanded by 80 basis points. Operating income increased by 11.8%, and adjusted EPS of $1.22 beat the consensus of $0.99. J.Jill raised its FY24 sales growth guidance to 1%-3% and expects adjusted EBITDA to decline by 1%-3%.
June 07, 2024 | 12:46 pm
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J.Jill Inc (NYSE:JILL) shares are trading higher after the company reported better-than-expected first-quarter FY24 earnings and raised its outlook. The company saw a 7.5% increase in sales, a 3.1% rise in comparable sales, and an 11.6% growth in direct-to-consumer net sales. Gross profit grew by 8.6%, and the gross margin expanded by 80 basis points. Operating income increased by 11.8%, and adjusted EPS of $1.22 beat the consensus of $0.99. J.Jill raised its FY24 sales growth guidance to 1%-3% and expects adjusted EBITDA to decline by 1%-3%.
The better-than-expected earnings report and raised outlook are strong positive signals for investors. The significant growth in sales, gross profit, and adjusted EPS beating consensus estimates are likely to drive the stock price higher in the short term.
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