J.Jill, Inc. reported a modest increase in financial performance for the fiscal year ending February 1, 2025, with net sales reaching $610.9 million, a 0.5% rise from $608.0 million in the previous fiscal year. The company's net income also saw a 9.1% increase, totaling $39.5 million compared to $36.2 million in fiscal year 2023. This growth was attributed to a 1.5% increase in comparable sales, although it was partially offset by the absence of a 53rd week of sales that had contributed approximately $7.9 million to the previous year's figures.
In terms of operational metrics, J.Jill operated 252 retail stores across 42 states as of February 1, 2025, an increase from 244 stores the previous year. The company has shifted its sales distribution slightly, with the Direct channel accounting for 47.5% of net sales, up from 46.8% in fiscal year 2023. The average tenure of J.Jill's customers remains strong at over ten years, with approximately 24% of active customers identified as omnichannel shoppers, reflecting a slight increase from 23% in the prior year.
Strategically, J.Jill has made significant moves to enhance its market position, including a share repurchase program authorized for up to $25 million, which is expected to be executed over the next two years. The company also declared a quarterly cash dividend of $0.07 per share during fiscal year 2024, totaling $2.9 million in dividends paid. Additionally, J.Jill has announced the appointment of Mary Ellen Coyne as the new CEO, effective May 1, 2025, following the retirement of Claire Spofford.
The company’s financial health is supported by a robust liquidity position, with $35.4 million in cash and cash equivalents as of February 1, 2025, alongside a $40 million asset-based revolving credit facility. J.Jill has also made substantial progress in debt management, having reduced its long-term debt from $120.6 million to $69.4 million over the fiscal year, primarily through voluntary prepayments. The company anticipates continued growth and operational improvements, focusing on expanding its store base and enhancing its omnichannel capabilities to better serve its customer demographic.
About J.Jill, Inc.
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