The J. Jill Group Inc. reported first quarter 2002 net income of $2.7 million, more than three times the $796,000 seen in first quarter 2001. Its sales rose to $73.4 million from $63.3 million, largely due to an aggressive store opening policy.
Its direct channel generated the largest share of its sales, bringing in $51.2 million, compared to just under $53 million a year ago. But the company said that it had lowered its level of promotional activity for this channel compared to last year’s level. The quarter ended March 30.
Retail sales made up $22.4 million, more than twice the $10.8 million seen a year ago. At the end of the fourth quarter it had 55 retail outlets open, compared with 24 a year ago.
“Our full price spring and summer merchandise assortment was on target and very well received across all distribution channels – retail, catalog and e-commerce,” Gordon R. Cooke, the company’s president and CEO said in a statement. “This strength in full price sales, along with our continued prudent approach to discretionary spending, enabled us to deliver the most profitable first quarter in our company’s history.”
The company is headquartered in Quincy, MA.
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