Shares of J.Jill, Inc. Pop 7% After Management Predicts Same-Store Sales Rebound

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What happened?

Excluding the recent optimism in retail stocks following a strong Black Friday, it's been a rough couple of years for most apparel retailers. Don't tell that to J.Jill, Inc. (NYSE: JILL), which just released third-quarter results and fourth-quarter guidance that sent its stock up over 7% as of 10:55 a.m. EST.

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So what

Total net sales climbed a modest 1.6% higher, to $162 million, during the third quarter with comparable sales checking in with a 0.6% decline. On the bottom line, J.Jill's adjusted earnings per share checked in at $0.13, which was down from the prior year's result of $0.18 per share. The company's revenue and earnings were a mixed bag depending on which analysts were surveyed; both results surpassed Zacks average estimates, but both fell short of FactSet consensus estimates.

Paula Bennett, President and CEO of J.Jill, Inc. stated, in a press release:

Now what

Investors looking for the driving force behind J.Jill's 7% gain today will find it with fourth-quarter guidance. For the fourth quarter, management expects comparable sales to rebound and climb 2% to 4%. This would help push the full-year comparable sales gain to a range of 4% to 5%.

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Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.