Sales at J. Jill Direct Drop for Quarter and Year
Despite a challenging retail environment, women’s apparel cataloger/retailer J. Jill Group (Nasdaq: JILL) posted gains on both sides of the ledger for the fourth quarter and the year. The gains were mostly due to retail store openings. Quincy, MA-based J. Jill opened 29 stores during the year, bringing its retail store count to 51.
Net sales for the quarter increased 4%, to $91.7 million for the three months ended Dec. 29. Net income also rose 4%, from $6.7 million for the fourth quarter of 2000 to $7.0 million. But catalog and Internet sales fell 15%, to $60.9 million from $72.0 million, on an 8% decline in circulation. There was also one less week in the fiscal fourth quarter of 2001 than that of 2000, and according to chief financial officer Olga Conley, the fourth quarter of 2000 had been a banner one, so the quarter just ended was bound to suffer in comparison.
For the fiscal year ended Dec. 29, total net sales were $287.0 million, up 17% from $246.3 million the previous year. Catalog and Internet sales, however, decreased 3%, to $212.2 million, though Web sales alone rose 51%, to $52.8 million from $35.0 million Total net income increased a much less dramatic 2%, to $13.1 million from $12.8 million.
As for fiscal 2002, J. Jill estimates that revenue will grow 15%-20% and that earnings per diluted share will grow 10%-15%.
Collegiate Pacific Quarterly Sales Up 34% Athletic equipment cataloger Collegiate Pacific (AMEX: BOO) posted a 34% increase in revenue for its fiscal second quarter ended Dec. 31, to nearly $2.9 million from $2.1 million for the comparable period of 2000. The Dallas-based company also narrowed its net loss to $253,000 from $354,000 for the previous second quarter. The company, which sells to schools and other institutions, also reported entering into a long-term agreement with Bank of America to expand its credit lines with lower interest rates.