J.Jill stock was on the rise Wednesday following the release of its earnings report for the third quarter of 2018.
J.Jill’s (NYSE:JILL) earnings report for the third quarter of the year includes earnings per share of 15 cents. This is up from the company’s earnings per share of 13 cents from the same period of the year prior. It was also a boon to J.Jill stock by beating out Wall Street’s earnings per share estimate of 9 cents for the quarter.
The most recent earnings report from J.Jill also has it reporting net income of $6.69 million. This is an increase over the company’s net income of $5.99 million reported in the third quarter of 2017.
Operating income reported by J.Jill for the third quarter of 2018 came in at $13.87 million. The women’s clothing, accessories and footwear brand reported operating income of $13.26 million during the same time last year.
J.Jill also reported revenue of $174.11 million for the third quarter of the year. This is better than the company’s revenue of $161.98 million reported in the third quarter of the previous year. It was also good news for J.Jill stock by coming in above analysts’ revenue estimate of $165.54 million for the period.
“We had positive sales momentum, our inventory levels are lower than last year and in line with our expectations, and our e-commerce business benefited from the enhancements we delivered during the year,” Linda Heasley, CEO of J.Jill, said in a statement. “We are also making early progress on our longer-term strategic plan for the business.”
JILL stock was up 21% as of noon Wednesday, but is down 38% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.