For the second straight quarter, women’s apparel and accessories retailer J.Jill Inc. went from net loss to net income.
For the fourth quarter of its fiscal year 2021, net income at J.Jill totalled $3.6M, compared to a net loss of $26.9M in the fourth quarter of fiscal 2020. The retailer also swung from net loss to profit year-over-year in the third quarter of fiscal 2021. During fiscal 2022, the company expects up to 10 net store closures.
For the fourth quarter: Total net sales for the quarter were up 15.3 per cent to $145.2M, compared to $125.9M the year-earlier quarter. Total company comparable sales, which includes same-store and direct-to-consumer sales, increased by 19.7 per cent. However, direct-to-consumer net sales were down 8.8 per cent from 2020, driven by lower markdown sales, and represented 52.1 per cent of total net sales.
