By Kailyn Rhone
J.Jill reported higher profit, revenue in the third quarter on boost in direct to consumer sales.
The women's apparel company posted a profit of $151.3 million, or 80 cents a share, up from $150.9 million, or 80 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 89 cents a share. Analysts polled by FactSet had been expecting 80 cents a share.
Sales rose to $151.3 million from $150.9 million a year earlier, slightly ahead of analyst forecasts for $151 million, according to FactSet.
Comparable sales in both stores and the direct-to-consumer channel were nearly flat, due to hurricane-related disruptions in the quarter.
For the fourth quarter, J.Jill expects net sales to be down 4% to 6%. J. Jill maintained its guidance for sales to be flat to up 1% this year.
The company opened three new locations and reopened one store that was temporarily closed for relocation. The company had 247 stores at the end of the quarter.
J.Jill said President and Chief Executive Claire Spofford will exit her role in April. The company did not disclose who will succeed her.
The company's board approved a share repurchase program for $25 million over the next two years.
The company's stock slips 0.5% to $27.51 in after-hours trading Wednesday. For the year, shares are up 7%.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 11, 2024 17:03 ET (22:03 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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