USA: J. Jill Group Reports Third Quarter Results
The J. Jill Group today reported financial results for the third quarter ended September 23, 2000. Net sales for the third quarter increased by 25.6 per cent to $58.2m from $46.3m reported in the prior year. Operating income for the quarter totaled $6.5m or 11.2 per cent of net sales compared to a loss from operations of $6.6m last year. Net income for the period was $3.6m or $0.34 per diluted share versus a net loss of $4.2m or $0.42 per share in the comparable period last year. During the third quarter ended September 25, 1999 the company recorded special charges totaling $5.3m primarily associated with its decision to shutdown its Nicole Summers catalog concept. Gross margin for the third quarter improved significantly to 36.7 per cent compared to last year's 26.5 per cent primarily as a result of the shutdown of the Nicole Summers concept and lower clearance activity due to a stronger J. Jill business. For the nine months ended September 23, 2000 the company recorded net sales of $159.6m compared to $189.1m in the prior year. Operating income for the nine - month period was $12m or 7.5 per cent of net sales compared to $2.6m or 1.4 per cent of net sales in the prior year. Net income for the period was $6.5m or $0.63 per diluted share versus $862,000 or $0.08 per diluted share in the comparable period last year. In other developments, the company has learned that the Securities and Exchange Commission is conducting a formal investigation regarding trading in the securities of the company in the period prior to the company's September 20, 1999 announcement of an anticipated operating loss for the third quarter of 1999 and the shutdown of the company's Nicole Summers catalog. This investigation is ongoing, and the company is fully cooperating.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- US apparel sector braces for potential cost hikes
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- Trade Tracker – Trump's first weeks, Brexit agenda
- Key trade issues facing US textiles and apparel
- Bangladesh "high threat" for terrorist activity
- VF Corp sees Q4 and FY earnings tumble
- Sales at US clothing retailers jumped in January
- Ralph Lauren new execs to support Way Forward Plan
- US Q4 in brief – VF Corp, Kate Spade, Rocky Brands
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022