US women’s retailer J.Jill Inc. recently released its financial results for the fourth quarter and fiscal year ending February 3, 2024. The company focused on strengthening its financial foundation through a 'disciplined operating model' during this period.
In the fourth quarter, J.Jill reported a 1.2 percent increase in total net sales, reaching $149.4 million compared to $147.7 million in the previous year. However, comparable sales experienced a decline of 3.6 percent. Direct to consumer net sales, which accounted for 51.2 percent of total net sales, saw a positive growth of 4 percent. Gross profit for the quarter stood at $100.6 million, with a gross margin of 67.3 percent. Income from operations also showed improvement, rising to $10.5 million from $7.8 million, resulting in an operating income margin of 7 percent. Net income saw a significant rise from $1 million in fiscal 2022 to $4.8 million, translating to earnings per diluted share of 33 cents. Adjusted EBITDA for the period was $17.6 million, up from $15 million, with a margin of 11.8 percent.
