J.Jill, Inc. 10-Q: Financials and Credit Update
Ticker: JILL · Form: 10-Q · Filed: 2024-06-07T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, credit-agreement
TL;DR
J.Jill's Q1 2024 10-Q is out, showing financials and a credit agreement update.
AI Summary
J.Jill, Inc. filed its 10-Q for the period ending May 4, 2024. The company reported on its financial performance and condition, including details on its debt and credit agreements. A subsequent event on May 1, 2024, involved the Term Loan Credit Agreement.
Why It Matters
This filing provides insight into J.Jill's financial health and its ongoing credit arrangements, which are crucial for its operational stability and future growth.
Risk Assessment
Risk Level: medium — The filing details financial performance and credit agreements, which are key indicators of a company's financial health and operational risk.
Key Numbers
- 2024-05-04 — Reporting Period End (The 10-Q covers financial data up to this date.)
- 2024-06-07 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- J.Jill, Inc. (company) — Filer
- 2024-05-04 (date) — Reporting period end date
- 2024-06-07 (date) — Filing date
- 4 BATTERYMARCH PARK (location) — Business and mailing address
- QUINCY, MA (location) — City and State of business address
- jill:TermLoanCreditAgreementMember (financial_instrument) — Mentioned credit agreement
- 2024-05-01 (date) — Subsequent event date related to credit agreement
FAQ
What was J.Jill's net sales for the first quarter of fiscal 2024?
The filing does not explicitly state the net sales figure for the first quarter of fiscal 2024 in the provided text snippet.
What is the nature of the subsequent event on May 1, 2024?
The subsequent event on May 1, 2024, relates to the Term Loan Credit Agreement.
What is J.Jill's fiscal year end date?
J.Jill's fiscal year ends on January 28.
What is the company's primary business classification?
The company's Standard Industrial Classification is WOMEN'S, MISSES', AND JUNIORS OUTERWEAR [2330].
What is the SEC file number for J.Jill, Inc.?
The SEC file number for J.Jill, Inc. is 001-38026.
Filing Stats: 4,431 words · 18 min read · ~15 pages · Grade level 13.9 · Accepted 2024-06-07 08:55:41
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value JILL New York Stock Excha
Filing Documents
- jill-20240504.htm (10-Q) — 1105KB
- jill-ex31_1.htm (EX-31.1) — 16KB
- jill-ex31_2.htm (EX-31.2) — 16KB
- jill-ex32_1.htm (EX-32.1) — 9KB
- jill-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-070236.txt ( ) — 5292KB
- jill-20240504.xsd (EX-101.SCH) — 1039KB
- jill-20240504_htm.xml (XML) — 686KB
Financial Statements
Financial Statements Condensed Consolidated Balance Sheets as of May 4, 2024 (Unaudited) and February 3, 2024 2 Condensed Consolidated Statements of Operations and Comprehensive Income for the Thirteen Weeks Ended May 4, 2024 and April 29, 2023 (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen Weeks Ended May 4, 2024 and April 29, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Thirteen Weeks Ended May 4, 2024 and April 29, 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.
Controls and Procedures
Controls and Procedures 23 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 24 Exhibit Index 24
Signatures
Signatures 26 1 Table of Contents
—FINANCI AL INFORMATION
PART I—FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements J.Jill, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share data) May 4, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 77,117 $ 62,172 Accounts receivable 10,914 5,042 Inventories, net 53,145 53,259 Prepaid expenses and other current assets 17,676 17,656 Total current assets 158,852 138,129 Property and equipment, net 52,083 54,118 Intangible assets, net 64,638 66,246 Goodwill 59,697 59,697 Operating lease assets, net 106,107 108,203 Other assets 2,525 1,787 Total assets $ 443,902 $ 428,180 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 41,687 $ 41,112 Accrued expenses and other current liabilities 46,834 42,283 Current portion of long-term debt 35,353 35,353 Current portion of operating lease liabilities 34,701 36,204 Total current liabilities 158,575 154,952 Long-term debt, net of discount and current portion 119,079 120,595 Deferred income taxes 11,107 10,967 Operating lease liabilities, net of current portion 100,684 103,070 Other liabilities 1,345 1,378 Total liabilities 390,790 390,962 Commitments and contingencies (see Note 11) Shareholders' Equity Common stock, par value $ 0.01 per share; 50,000,000 shares authorized; 10,747,847 and 10,614,454 shares issued and outstanding at May 4, 2024 and February 3, 2024, respectively 107 107 Additional paid-in capital 212,434 213,236 Accumulated deficit ( 159,429 ) ( 176,125 ) Total shareholders' equity 53,112 37,218 Total liabilities and shareholders' equity $ 443,902 $ 428,180 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents J.Jill, Inc. CONDENSED CONSOLIDATED STATEMENT S OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) (in