In This Article:
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Total Net Sales: $611 million for the full year 2024.
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Full Year Comparable Sales Growth: Positive 1.5%.
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Gross Margin: 70.4% for the full year 2024.
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Adjusted EBITDA: $107 million for the full year 2024.
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Adjusted Net Income per Diluted Share: $3.47 for the full year 2024.
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Free Cash Flow: $47 million for the full year 2024.
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Q4 Total Company Sales: $143 million, down approximately 5% compared to Q4 2023.
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Q4 Total Company Comparable Sales: Increased 1.9%.
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Q4 Gross Margin: 66.3%, down 120 basis points versus Q4 2023.
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Q4 Adjusted EBITDA: $14.5 million.
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Q4 Adjusted Net Income per Diluted Share: $0.32, up 14% compared to the prior year.
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Store Count: Ended the year with 252 stores, a net increase of eight for the year.
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Interest Expense Reduction: Declined $11.1 million to $15.7 million for the full year 2024.
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Capital Expenditures: $17.8 million for the full year 2024.
Release Date: March 19, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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J.Jill Inc (NYSE:JILL) delivered slightly better-than-expected adjusted EBITDA for Q4 2024 due to disciplined expense management.
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The company saw strong performance in categories such as bottoms, outerwear, knit tops, and sleepwear, supported by successful marketing campaigns.
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J.Jill Inc (NYSE:JILL) achieved its fourth consecutive year of strong adjusted EBITDA margin and significant free cash flow generation.
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The company initiated a quarterly dividend and a share buyback program, demonstrating a commitment to returning value to shareholders.
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J.Jill Inc (NYSE:JILL) made significant progress with systems upgrades, including a new POS system and ongoing implementation of a new OMS system, expected to enhance omnichannel capabilities.
Negative Points
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Q1 2025 started slower than expected due to adverse weather, consumer sentiment challenges, and the OMS system implementation.
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The company faced a challenging promotional environment, particularly impacting the direct sales channel.
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J.Jill Inc (NYSE:JILL) experienced a decline in Q4 2024 gross margin due to higher freight costs and a higher mix of markdown sales.
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Inventory levels were elevated due to strategic shipping adjustments, impacting reported balances.
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The company anticipates continued consumer and macroeconomic uncertainty impacting fiscal 2025 performance.
Q & A Highlights
Q: Can you elaborate on the Q1 headwinds, including weather, consumer sentiment, and the OMS implementation? How are these factors affecting your outlook for the quarter? A: Claire Spofford, CEO, explained that Q1 started slower due to weather impacts and consumer sentiment, with surveys indicating increased concern among consumers. The OMS cutover also created noise in early March. These factors are significant headwinds considered in the Q1 guidance.