J.Jill (NYSE: JILL) reported Q1 EPS of $1.22, $0.26 better than the analyst estimate of $0.96. Revenue for the quarter came in at $161.5 million versus the consensus estimate of $153.29 million.

Outlook:

For the second quarter of fiscal 2024, incorporating the approximately $7.0 million negative impact from the calendar shift, the Company expects net sales to be flat to down 3% compared to the second quarter of fiscal 2023. The Company also expects Adjusted EBITDA to be in the range of $27.0 million to $30.0 million.

For fiscal 2024, the Company is raising its guidance and now expects net sales to grow in the range of 1% to 3% compared to fiscal 2023, and for Adjusted EBITDA to decline in the range of 1% and 3% compared to the 53-week fiscal 2023. This guidance reflects the negative impact from the loss of the 53rd week in fiscal 2023 of $7.9 million in net sales and $2.2 million in Adjusted EBITDA as well as investments to support profitable sales growth, including approximately $3 million in operating expenses related to the Company’s Order Management System (“OMS”) project.

Excluding the impact of the 53rd week as well as the operating expense investment in the OMS project, the Company expects fiscal 2024 net sales to grow in the range of 2% to 4% and Adjusted EBITDA to grow in the range of 1% to 3% compared to the prior year.

The Company continues to expect total capital expenditures of approximately $26.0 million and net store count growth of up to 5 stores to end fiscal 2024

For earnings history and earnings-related data on J.Jill (JILL) click here.