J.Jill Reaffirms Guidance; Shares Decline on Sales Outlook

(JILL) reaffirmed its fourth-quarter and full-year fiscal 2024 guidance at an investor meeting, projecting a 4-6% decline in fourth-quarter net sales and flat to 1% growth for full-year net sales, leading to a 2.37% pre-market share decline. J.Jill, a lifestyle brand, expects fourth-quarter comparable sales to increase by 1-3% compared to the prior fiscal year's 13-week period.

For fiscal 2024, comparable sales are projected to rise by 1-2%, with net sales, excluding certain items, anticipated to grow in the 1-2% range. Analysts polled by Thomson Reuters had projected fourth-quarter earnings of $0.21 per share on $142.38 million in revenue, and full-year sales of $1.24 per share on $165.22 million in revenue.

The company's reaffirmed outlook indicates a challenging near-term sales environment, particularly for the fourth quarter, despite the projected increase in comparable sales. The market's negative response, evidenced by the 2.37% pre-market share drop, reflects investor concern regarding the top-line performance.

This guidance suggests J.Jill faces headwinds in achieving overall net sales growth, even as it maintains its full-year projections.