J.Jill (NYSE: JILL) reported Q3 EPS of $0.89, $0.09 better than the analyst estimate of $0.80. Revenue for the quarter came in at $151.3 million versus the consensus estimate of $151.02 million.

OUTLOOK

Outlook

For the fourth quarter of fiscal 2024, the Company expects net sales to be down 4% to 6% compared to the 14-week fourth quarter of fiscal 2023. The Company expects total company comparable sales to be up 1% to 3% compared to the comparable 13-week period in the prior fiscal year and expects Adjusted EBITDA to be in the range of $12.0 million to $14.0 million for the fourth quarter of fiscal 2024.

For fiscal 2024, the Company expects net sales to be about flat to up 1% compared to fiscal 2023, total company comparable sales to be up 1% to 2% and for Adjusted EBITDA to be in the range of $105.0 million to $107.0 million, reflecting a year-over-year decline of 5% to 7% compared to fiscal 2023. This net sales and Adjusted EBITDA 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 $2.0 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 1% to 2% and Adjusted EBITDA to decline in the range of 2% to 4% compared to the prior year.

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