J.Jill 10-Q: Debt, Equity, Warrants, and Dividends Detailed

TL;DR

J.Jill 10-Q out: Debt, equity, warrants, and dividends all laid out. Watch those warrants!

AI Summary

J.Jill, Inc. filed its 10-Q for the period ending August 3, 2024. The company reported on its financial performance, including details on debt and equity. A subsequent event on August 20, 2024, involved warrants, and another on August 28, 2024, concerned Q2 2024 dividends.

Why It Matters

This filing provides investors with a detailed look at J.Jill's financial health and recent corporate actions, including potential future share dilution from warrants and dividend payouts.

Risk Assessment

Risk Level: medium — The mention of warrants and subsequent dividend events suggests potential changes in share structure and financial obligations that could impact future earnings per share.

Key Numbers

• 2024-08-03 — Reporting Period End Date (This is the end date for the financial information presented in the 10-Q.)
• 2024-02-03 — Debt Carrying Value Date (Represents a point in time for which debt carrying value was reported.)
• 2023-04-30 — Retained Earnings Date (A date for which retained earnings information was provided.)

Key Players & Entities

• J.Jill, Inc. (company) — Filer of the 10-Q
• August 3, 2024 (date) — End of the reporting period
• August 20, 2024 (date) — Date of a subsequent event involving warrants
• August 28, 2024 (date) — Date of a subsequent event concerning Q2 2024 dividends
• TowerBrook Capital Partners L.P. (company) — Mentioned in relation to financial data

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value JILL New York Stock Excha

Filing Documents

• jill-20240803.htm (10-Q) — 1484KB
• 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
• 0000950170-24-103118.txt ( ) — 6317KB
• jill-20240803.xsd (EX-101.SCH) — 1082KB
• jill-20240803_htm.xml (XML) — 913KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets as of August 3, 2024 (Unaudited) and February 3, 2024 2 Condensed Consolidated Statements of Operations and Comprehensive Income for the Thirteen and Twenty-Six Weeks Ended August 3, 2024 and July 29, 2023 (Unaudited) 3 Condensed Consolidated Statements of Shareholders' Equity for the Thirteen and Twenty-Six Weeks Ended August 3, 2024 and July 29, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Twenty-six weeks ended August 3, 2024 and July 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 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28 Exhibit Index 28

Signatures

Signatures 29 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) August 3, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 28,466 $ 62,172 Accounts receivable 5,068 5,042 Inventories, net 52,709 53,259 Prepaid expenses and other current assets 19,447 17,656 Total current assets 105,690 138,129 Property and equipment, net 50,883 54,118 Intangible assets, net 63,430 66,246 Goodwill 59,697 59,697 Operating lease assets, net 107,842 108,203 Other assets 3,260 1,787 Total assets $ 390,802 $ 428,180 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 44,552 $ 41,112 Accrued expenses and other current liabilities 36,533 42,283 Current portion of long-term debt 4,375 35,353 Current portion of operating lease liabilities 33,903 36,204 Total current liabilities 119,363 154,952 Long-term debt, net of discount and current portion 68,831 120,595 Deferred income taxes 9,539 10,967 Operating lease liabilities, net of current portion 101,405 103,070 Other liabilities 1,300 1,378 Total liabilities 300,438 390,962 Commitments and contingencies (see Note 12) Shareholders' Equity Common stock, par value $ 0.01 per share; 50,000,000 shares authorized; 11,766,868 and 10,614,454 shares issued and outstanding at August 3, 2024 and February 3, 2024, respectively (See Note 8) 117 107 Additional paid-in capital 241,485 213,236 Accumulated deficit ( 151,238 ) ( 176,125 ) Total shareholders' equity 90,364 37,218 Total liabilities and shareholders' equity $ 390,802 $ 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 (UN