=J. Jill (JILL) reported earnings on Wed 28 Nov 18 (b/o)

J. Jill beats by $0.06, beats on revs

• Reports Q3 (Oct) earnings of $0.15 per share, $0.06 better than the S&P Capital IQ Consensus of $0.09; revenues rose 7.5% year/year to $174.1 mln vs the $165.64 mln S&P Capital IQ Consensus.
  • Total company comparable sales, which includes comparable store and direct to consumer sales, increased by 1.0%
• Outlook:
• For the fourth quarter of fiscal 2018, the Company expects total comparable sales to decrease 2% to 4%, on a 13-week to 13-week basis consistent with the National Retail Federation's restated 2017 calendar. Last year's fourth quarter comparable sales growth was 8.9%, and included elevated levels of clearance sales.
• Total net sales are expected to decrease 10% to 12%, driven by the shorter fiscal period and the calendar shift created by the fifty-third week in fiscal 2017 which shifted sales from the fourth quarter to the third quarter in fiscal 2018.
• GAAP diluted earnings per share are expected to be in the range of $0.00 to $0.02, including a $0.03 negative impact related to the calendar shift. This is compared to $0.67 in the fourth quarter of fiscal 2017 which included the $0.02 benefit from the fifty-third week and a $0.55 benefit resulting from the U.S. Tax Cuts and Jobs Act.

 J. Jill Chief Financial and Operating Officer Dave Biese to leave the company on April 30

Biese will work closely with management to ensure a smooth transition to his successor. J.Jill's Board of Directors has retained Heidrick & Struggles, a leading executive search firm, to assist in identifying a new Chief Financial Officer.