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J. Jill Inc. (JILL-0.37%) has submitted its Form 10-K filing for the fiscal year ended February 1, 2025.
The filing details J. Jill's operations as a national lifestyle brand offering apparel, footwear, and accessories through over 250 stores and an ecommerce platform. The company is headquartered outside Boston.
Net sales for the fiscal year were $610.9 million, a slight increase from $608.0 million in the previous year. This increase was due to a 1.5% rise in comparable sales, despite the loss of an additional week in the previous fiscal year.
The company's gross profit for the year was $429.9 million, with a gross margin of 70.4%, slightly down from 70.8% the previous year. The decrease was attributed to increased promotional activities and freight costs.
Selling, general, and administrative expenses rose by 2.6% to $353.4 million, driven by increases in professional fees, stock-based compensation, shipping, and marketing expenses.
J. Jill reported a net income of $39.5 million, up from $36.2 million the previous year. The effective tax rate was 26.9%, influenced by state and local taxes and executive compensation limitations.
The company made voluntary principal prepayments totaling $94.2 million on its Term Loan Credit Agreement, leading to a loss on extinguishment of debt of $8.6 million.
J. Jill ended the fiscal year with $35.4 million in cash and cash equivalents and $35.7 million of availability under its asset-based revolving credit facility.
The company declared and paid dividends totaling $2.9 million during the fiscal year and announced a cash dividend of $0.08 per share payable on April 16, 2025.
J. Jill's growth strategy includes expanding its customer base, increasing direct sales, and enhancing omnichannel capabilities. The company plans to open up to 50 new stores over the next three to five years.
The filing also notes that J. Jill has no significant exposure to foreign currency exchange risk, as its merchandise orders are placed in U.S. dollars.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the J. Jill Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.