J.Jill jumps as strong apparel demand drives up Q1 results

JJill

08/06/2022 13:01

** Shares of apparel retailer J.Jill Inc  JILL.N  up ~10% at
$19.91 before the bell
    ** JILL's Q1 net sales rises 21.7% to $157.1 mln, driven by
strong demand for its apparel as consumers return to social
gatherings and work  urn:newsml:reuters.com:*:nBwc3Yg0Na
    ** Company posts Q1 net income of $14.4 mln, or $1.02 per
share, compared with net loss of $18.3 mln, or $1.89 per share,
a year earlier 
    ** Q1 adj profit rose to $1.02 per share from 20 cents per
share a year earlier  urn:newsml:reuters.com:*:nASA03EI5
    ** JILL also forecasts Q2 revenue to rise between 1% and 3%
    ** Posts Q1 gross margin of 69.7% vs 68.0% last year,
supported by full-price selling and reduced promotions 
    ** Up to Tuesday's close, stock had fallen ~6% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))