The company ended the third quarter of Fiscal 2020 with $9.2M in cash and $37.3M of total availability under its revolving credit agreement.
Like many other retailers in these unprecedented times, J.Jill has felt the impacts of the Coronavirus pandemic. The company has recorded a gross profit of $69M compared to $106.9M in the third quarter of fiscal 2019. Gross margin was 58.9 per cent compared to 64.4 per cent in the same period last year.
Total net sales for the period were $117.2M compared to $166.1M in the same period last year, however, direct to consumer net sales represented 63.3 per cent of total net sales, compared to 43 per cent last year.
James S. Scully, Interim Chief Executive Officer of J.Jill, Inc. stated, “Our third quarter results represent sequential topline improvement as the majority of our stores were reopened for the entire period. Direct sales were up 4 per cent for the quarter and penetration remained healthy at over 60 per cent of total sales.”
