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Q3 FY24 Net Sales of $151.3 Million Q3 FY24 Gross Margin of 71.4% Q3 FY24 Operating Income of $19.2 Million Announces $25.0 Million Share Repurchase Authorization J.Jill, Inc. JILL today announced financial results for the third quarter of fiscal year 2024. Claire Spofford, President and Chief Executive Officer of J.Jill, Inc. stated, "We delivered third quarter results inline with our expectations as we continued to execute the disciplined operating model yielding another quarter of healthy overall margin performance. While our customer has remained selective with her purchasing behavior and we have not yet seen the robust return to full price selling we saw earlier this year, we are maintaining our commitment to providing her the product, value and shopping experience she expects and appreciates from J.Jill. As we look ahead, we remain steadfast in our operating principles and continue to invest in strategic initiatives such as systems and new stores that we believe will enhance the omni-channel experience and broaden our reach longer-term. In addition to continuing to invest in the business, we are also pleased to further expand our total shareholder return strategy to include a new share repurchase program further underscoring our confidence in the business and the long-term opportunities that remain in front of us." For the third quarter ended November 2, 2024: Net sales for the third quarter of fiscal 2024 increased 0.3% to $151.3 million compared to $150.9 million for the third quarter of fiscal 2023. The increase includes approximately $2.0 million of benefit due to the calendar shift with the 53 rd week in fiscal 2023. Total company comparable sales, which includes comparable store and direct to consumer sales, decreased by 0.8% for the third quarter of fiscal 2024. Total company comparable sales was negatively impacted by approximately 50 basis points due to hurricane-related disruptions in the quarter. Direct to consumer net sales, which represented 45.7% of net sales, were up 0.3% compared to the third quarter of fiscal 2023. Gross profit was $108.0 million compared to $108.6 million in the third quarter of fiscal 2023. Gross margin was 71.4% compared to 72.0% in the third quarter of fiscal 2023. SG&A was $88.6 million compared to $86.5 million in the third quarter of fiscal 2023. Excluding non-recurring items from both periods, SG&A as a percentage of total net sales was 58.4% compared to 57.7% for the third quarter of fiscal 2023. Operating income was $19.2 million compared to $22.1 million in the third quarter of fiscal 2023. Operating income margin for the third quarter of fiscal 2024 was 12.7% compared to 14.7% in the third quarter of fiscal 2023. Adjusted Income from Operations* was $21.4 million compared to $22.5 million in the third quarter of fiscal 2023. Interest expense was $2.8 million compared to $6.5 million in the third quarter of fiscal 2023. Interest income was $0.5 million in the third quarter of fiscal 2024 compared to $0.7 million in the third quarter of fiscal 2023. During the third quarter of fiscal 2024, the Company recorded an income tax provision of $4.5 million compared to $4.7 million in the third quarter of fiscal 2023 and the effective tax rate was 26.8% compared to 28.9% in the third quarter of fiscal 2023. Net Income was $12.3 million compared to $11.6 million in the third quarter of fiscal 2023. Net Income per Diluted Share was $0.80 for the third quarter of fiscal 2024 and 2023. Adjusted Net Income per Diluted Share* in the third quarter of fiscal 2024 was $0.89 compared to $0.83 in the third quarter of fiscal 2023. Adjusted EBITDA* for the third quarter of fiscal 2024 was $26.8 million compared to $28.6 million in the third quarter of fiscal 2023. Adjusted EBITDA margin* for the third quarter of fiscal 2024 was 17.7% compared to 18.9% in the third quarter of fiscal 2023. The Company opened three new stores, reopened one store that was temporarily closed for relocation in the second quarter of fiscal 2024 and temporarily closed one store due to hurricane damage, which has an uncertain reopening date. The store count at the end of the quarter is 247 stores. For the thirty-nine weeks ended November 2, 2024: Net sales for the thirty-nine weeks ended November 2, 2024 increased 2.2% to $468.0 million compared to $457.8 million for the thirty-nine weeks ended October 28, 2023. The increase includes approximately $2.0 million of benefit due to the calendar shift with the 53 rd week in fiscal 2023. Total company comparable sales, which includes comparable store and direct to consumer sales, increased by 1.4% for the thirty-nine weeks ended November 2, 2024. Direct to consumer net sales, which represented 46.6% of net sales, were up 5.1% compared to the thirty-nine weeks ended October 28, 2023. Gross profit was $335.1 million compared to $329.3 million for the thirty-nine weeks ended October 28, 2023. Gross margin was 71.6% compared to 71.9% for the thirty-nine weeks ended October 28, 2023. SG&A was $264.1 million compared to $253.7 million for the thirty-nine weeks ended October 28, 2023. Excluding non-recurring items from both periods, SG&A as a percentage of total net sales was 56.4% compared to 55.6% for the thirty-nine weeks ended October 28, 2023. Operating income was $70.6 million compared to $75.6 million for the thirty-nine weeks ended October 28, 2023. Operating income margin for the thirty-nine weeks ended November 2, 2024 was 15.1% compared to 16.5% for the thirty-nine weeks ended October 28, 2023. Adjusted Income from Operations* was $75.9 million compared to $77.8 million for the thirty-nine weeks ended October 28, 2023. Interest expense was $13.0 million compared to $19.8 million for the thirty-nine weeks ended October 28, 2023. Interest income was $2.0 million compared to $1.8 million for the thirty-nine weeks ended October 28, 2023. During the thirty-nine weeks ended November 2, 2024, the Company recorded an income tax provision of $13.8 million compared to $13.3 million for the thirty-nine weeks ended October 28, 2023 and the effective tax rate was 27.1% compared to 29.8% for the thirty-nine weeks ended October 28, 2023. Net Income was $37.2 million compared to $31.4 million for the thirty-nine weeks ended October 28, 2023. Net Income per Diluted Share was $2.48 compared to $2.19 for the thirty-nine weeks ended October 28, 2023. Adjusted Net Income per Diluted Share* for the thirty-nine weeks ended November 2, 2024 was $3.15 compared to $3.00 for the thirty-nine weeks ended October 28, 2023. Adjusted EBITDA* for the thirty-nine weeks ended November 2, 2024 was $92.6 million compared to $95.1 million for the thirty-nine weeks ended October 28, 2023. Adjusted EBITDA margin* for the thirty-nine weeks ended November 2, 2024 was 19.8% compared to 20.8% for the thirty-nine weeks ended October 28, 2023. The Company opened four new stores for the thirty-nine weeks ended November 2, 2024 and temporarily closed one store due to hurricane damage, which has an uncertain reopening date. The store count at the end of the thirty-nine weeks ended November 2, 2024 is 247 stores. Balance Sheet Highlights Net Cash provided by Operating Activities for the thirty-nine weeks ended November 2, 2024, was $56.9 million compared to $56.7 million for the thirty-nine weeks ended October 28, 2023. Free cash flow* was $46.9 million compared to $45.9 million for the thirty-nine weeks ended October 28, 2023. The Company ended the third quarter of fiscal 2024 with a cash balance of $38.8 million. Inventory at the end of the third quarter of fiscal 2024 was $61.7 million compared to $56.7 million at the end of the third quarter of fiscal 2023. *Non-GAAP financial measures. Please see "Non-GAAP Financial Measures" and "Reconciliation of GAAP Net Income to Adjusted EBITDA," "Reconciliation of GAAP Operating Income to Adjusted Income from Operations," "Reconciliation of GAAP Net Income to Adjusted Net Income," and "Reconciliation of GAAP Cash from Operations to Free Cash Flow" for more information. Share Repurchase Authorization On December 6, 2024, J.Jill's Board of Directors authorized a share repurchase program for up to an aggregate amount of $25.0 million of the Company's outstanding common stock over the next 2 years. The program is expected to be funded through the Company's existing cash and future free cash flow. The timing of any repurchases and the number of shares repurchased are subject to the discretion of the Company and may be affected by various factors, including general market and economic conditions, the market price of the Company's common stock, the Company's earnings, financial condition, capital requirements and levels of indebtedness, legal requirements, and other factors that management may deem relevant. The share repurchase program authorization does not obligate the Company to acquire any shares of its common stock and may be amended, suspended or discontinued at any time. Shares may be repurchased from time to time through open market transactions, block trades, privately negotiated purchase transactions or other purchase techniques and may include purchases effected pursuant to one or more trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. Quarterly Dividend Payment On December 4, 2024, the Board declared a cash dividend of $0.07 per share, payable on January 9, 2025 to stockholders of record of issued and outstanding shares of the Company's common stock as of December 26, 2024. Outlook For the fourth quarter of fiscal 2024, the Company expects net sales to be down 4% to 6% compared to the 14-week fourth quarter of fiscal 2023. The Company expects total company comparable sales to be up 1% to 3% compared to the comparable 13-week period in the prior fiscal year and expects Adjusted EBITDA to be in the range of $12.0 million to $14.0 million for the fourth quarter of fiscal 2024. For fiscal 2024, the Company expects net sales to be about flat to up 1% compared to fiscal 2023, total company comparable sales to be up 1% to 2% and for Adjusted EBITDA to be in the range of $105.0 million to $107.0 million, reflecting a year-over-year decline of 5% to 7% compared to fiscal 2023. This net sales and Adjusted EBITDA guidance reflects the negative impact from the loss of the 53rd week in fiscal 2023 of $7.9 million in net sales and $2.2 million in Adjusted EBITDA as well as investments to support profitable sales growth, including approximately $2.0 million in operating expenses related to the Company's Order Management System ("OMS") project. Excluding the impact of the 53rd week as well as the operating expense investment in the OMS project, the Company expects fiscal 2024 net sales to grow in the range of 1% to 2% and Adjusted EBITDA to decline in the range of 2% to 4% compared to the prior year. The Company now expects net store count growth of 4 stores to end fiscal 2024, excluding the impact of the hurricane closure. The Company continues to expect total capital expenditures of approximately $22.0 million, which reflects the treatment of cloud based software implementation costs as prepaid expense. Conference Call Information A conference call to discuss third quarter 2024 results is scheduled for today, December 11, 2024, at 4:30 p.m. Eastern Time. Those interested in participating in the call are invited to dial (888) 596-4144 or (646) 968-2525 if calling internationally. Please dial in approximately 10 minutes prior to the start of the call and reference Conference ID 7311773 when prompted. A live audio webcast of the conference call will be available online at http://investors.jjill.com/Investors-Relations/News-Events/events . A taped replay of the conference call will be available approximately two hours following the call and can be accessed both online and by dialing (800) 770-2030 or (609) 800-9909. The pin number to access the telephone replay is 7311773. The telephone replay will be available until December 18, 2024. About J.Jill, Inc. J.Jill is a national lifestyle brand that provides apparel, footwear and accessories designed to help its customers move through a full life with ease. The brand represents an easy, thoughtful and inspired style that celebrates the totality of all women and designs its products with its core brand ethos in mind: keep it simple and make it matter. J.Jill offers a high touch customer experience through over 200 stores nationwide and a robust ecommerce platform. J.Jill is headquartered outside Boston. For more information, please visit www.jjill.com or http://investors.jjill.com . The information included on our websites is not incorporated by reference herein. Non-GAAP Financial Measures To supplement our unaudited consolidated financial statements presented in accordance with generally accepted accounting principles ("GAAP"), we use the following non-GAAP measures of financial performance: Adjusted EBITDA, which represents net income plus depreciation and amortization, income tax provision, interest expense, interest expense - related party, interest income, equity-based compensation expense, write-off of property and equipment, amortization of cloud-based software implementation costs, loss on extinguishment of debt, loss on debt refinancing, adjustment for exited retail stores, impairment of long-lived assets, loss due to hurricane, and other non-recurring items primarily consisting of outside legal and professional fees associated with certain non-recurring transactions and events. We present Adjusted EBITDA on a consolidated basis because management uses it as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period. We also use Adjusted EBITDA as one of the primary methods for planning and forecasting overall expected performance of our business and for evaluating on a quarterly and annual basis actual results against such expectations. Further, we recognize Adjusted EBITDA as a commonly used measure in determining business value and as such, use it internally to report results. We also use Adjusted EBITDA margin which represents, for any period, Adjusted EBITDA as a percentage of net sales. Adjusted Income from Operations, which represents operating income plus equity-based compensation expense, write-off of property and equipment, adjustment for exited retail stores, impairment of long-lived assets, loss due to hurricane, and other non-recurring items. We present Adjusted Income from Operations because management uses it as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts, and other interested parties as a measure of our comparative operating performance from period to period. Adjusted Net Income, which represents net income plus income tax provision, equity-based compensation expense, write-off of property and equipment, loss on extinguishment of debt, loss on debt refinancing, adjustment for exited retail stores, impairment of long-lived assets, loss due to hurricane, and other non-recurring items. We present Adjusted Net Income because management uses it as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period. Adjusted Net Income per Diluted Share represents Adjusted Net Income divided by the number of fully diluted shares outstanding. Adjusted Net Income per Diluted Share is presented as a supplemental measure in assessing our operating performance, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative operating performance from period to period. Free Cash Flow represents cash flow from operations less capital expenditures. Free Cash Flow is presented as a supplemental measure in assessing our liquidity, and we believe that it is helpful to investors, securities analysts and other interested parties as a measure of our comparative liquidity and operating performance from period to period. While we believe that Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Income from Operations, Adjusted Net Income, Adjusted Diluted EPS and Free Cash Flow are useful in evaluating our business, they are non-GAAP financial measures that have limitations as analytical tools. These non-GAAP measures should not be considered alternatives to, or substitutes for, Net Income, Income from Operations, Net Income per Diluted Share or Cash from Operations, which are calculated in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate these non-GAAP measures differently or not at all, which reduces the usefulness of such non-GAAP financial measures as tools for comparison. We recommend that you review the reconciliation and calculation of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Income from Operations, Adjusted Net Income, Adjusted Diluted EPS and Free Cash Flow to Net Income, Income from Operations, Net Income per Diluted Share and Cash from Operations, respectively, the most directly comparable GAAP financial measures, under "Reconciliation of GAAP Net Income to Adjusted EBITDA", "Reconciliation of GAAP Operating Income to Adjusted Income from Operations", "Reconciliation of GAAP Net Income to Adjusted Net Income" and "Reconciliation of Cash from Operations to Free Cash Flows" and not rely solely on Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Income from Operations, Adjusted Net Income, Adjusted Net Income per Diluted Share, Free Cash Flow or any single financial measure to evaluate our business. Forward-Looking Statements This press release contains, and oral statements made from time to time by our representatives may contain, "forward-looking statements." All statements other than statements of historical facts contained in this press release, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management, expected market growth and any activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. Such statements are often identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects," "goal," "target" (although not all forward-looking statements contain these identifying words) and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions and are not guarantees of future performance. Because forward-looking statements relate to the future, by their nature, they are inherently subject to a number of risks, uncertainties, potentially inaccurate assumptions and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in any forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks regarding: (1) our sensitivity to changes in economic conditions and discretionary consumer spending; (2) the material adverse impact of pandemics, other health crises or natural disasters on our operations, business and financial results; (3) our ability to anticipate and respond to changing customer preferences, shifts in fashion and industry trends in a timely manner; (4) our ability to maintain our brand image, engage new and existing customers and gain market share; (5) the impact of operating in a highly competitive industry with increased competition; (6) our ability to successfully optimize our omnichannel operations, including our ability to enhance our marketing efforts and successfully realize the benefits from our investments in new technology, for example our recently implemented point-of-sale system and the forthcoming upgrade to our order management system; (7) our ability to use effective marketing strategies and increase existing and new customer traffic; (8) any interruptions in our foreign sourcing operations and the relationships with our suppliers and agents; (9) any increases in the demand for, or the price of, raw materials used to manufacture our merchandise and other fluctuations in sourcing and distribution costs; (10) any material damage or interruptions to our information systems; (11) our ability to protect our trademarks and other intellectual property rights; (12) our indebtedness restricting our operational and financial flexibility; (13) our ability to manage our inventory levels, size assortments and merchandise mix; (14) the fact that we are no longer a controlled company; (15) the impact of any new or increased tariffs; (16) our management succession plan; and (17) other factors that may be described in our filings with the Securities and Exchange Commission (the "SEC"), including the factors set forth under "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended February 3, 2024 and our Quarterly Report on Form 10-Q for the quarter ended August 28, 2024. You are encouraged to read our filings with the SEC, available at www.sec.gov , for a discussion of these and other risks and uncertainties. We caution investors, potential investors and others not to place considerable reliance on the forward-looking statements in this press release and in the oral statements made by our representatives. Any such forward-looking statement speaks only as of the date on which it is made. J.Jill undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. (Tables Follow) J.Jill, Inc. Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Amounts in thousands, except share and per share data) For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Net sales (a) $ 151,260 $ 150,881 Costs of goods sold (exclusive of depreciation and amortization) 43,285 42,283 Gross profit 107,975 108,598 Selling, general and administrative expenses (a) 88,646 86,450 Impairment of long-lived assets 102 21 Operating income 19,227 22,127 Interest expense (b) 2,849 6,501 Interest income (b) (494 ) (707 ) Income before provision for income taxes 16,872 16,333 Income tax provision 4,524 4,717 Net income and total comprehensive income $ 12,348 $ 11,616 Net income per common share: Basic $ 0.81 $ 0.82 Diluted $ 0.80 $ 0.80 Weighted average common shares: Basic 15,331,712 14,169,955 Diluted 15,490,876 14,448,228 Cash dividends declared per common share $ 0.07 — (a) For the third quarter of fiscal 2023, Net sales includes $0.7 million of processing fee income related to customer sales returns that was previously included in Selling, general and administrative expenses. (b) Beginning fiscal 2024, Interest income is presented separately from Interest expense. The prior period has been conformed with the current period presentation J.Jill, Inc. Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Amounts in thousands, except share and per share data) For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Net sales (a) $ 468,015 $ 457,758 Costs of goods sold (exclusive of depreciation and amortization) 132,909 128,423 Gross profit 335,106 329,335 Selling, general and administrative expenses (a) 264,072 253,705 Impairment of long-lived assets 413 66 Operating income 70,621 75,564 Loss on extinguishment of debt 8,570 — Loss on debt refinancing — 12,702 Interest expense (b) 13,009 18,758 Interest expense - related party — 1,074 Interest income (b) (2,020 ) (1,750 ) Income before provision for income taxes 51,062 44,780 Income tax provision 13,827 13,346 Net income and total comprehensive income $ 37,235 $ 31,434 Net income per common share: Basic $ 2.51 $ 2.22 Diluted $ 2.48 $ 2.19 Weighted average common shares: Basic 14,831,762 14,130,734 Diluted 14,994,786 14,379,529 Cash dividends declared per common share $ 0.14 — (a) For the thirty-nine weeks ended October 28, 2023, Net sales includes $2.5 million of processing fee income related to customer sales returns that was previously included in Selling, general and administrative expenses. (b) Beginning fiscal 2024, Interest income is presented separately from Interest expense. The prior period has been conformed with the current period presentation. J.Jill, Inc. Consolidated Balance Sheets (Unaudited) (Amounts in thousands, except common share data) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 38,765 $ 62,172 Accounts receivable 6,535 5,042 Inventories, net 61,737 53,259 Prepaid expenses and other current assets 18,774 17,656 Total current assets 125,811 138,129 Property and equipment, net 52,091 54,118 Intangible assets, net 62,223 66,246 Goodwill 59,697 59,697 Operating lease assets, net 112,358 108,203 Other assets 6,076 1,787 Total assets $ 418,256 $ 428,180 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 50,936 $ 41,112 Accrued expenses and other current liabilities 42,534 42,283 Current portion of long-term debt 2,188 35,353 Current portion of operating lease liabilities 34,251 36,204 Total current liabilities 129,909 154,952 Long-term debt, net of discount and current portion 69,124 120,595 Deferred income taxes 9,511 10,967 Operating lease liabilities, net of current portion 105,161 103,070 Other liabilities 1,290 1,378 Total liabilities 314,995 390,962 Commitments and contingencies Shareholders' Equity Common stock, par value $0.01 per share; 50,000,000 shares authorized; 15,340,378 and 10,614,454 shares issued and outstanding at November 2, 2024 and February 3, 2024, respectively 153 107 Additional paid-in capital 241,998 213,236 Accumulated deficit (138,890 ) (176,125 ) Total shareholders' equity 103,261 37,218 Total liabilities and shareholders' equity $ 418,256 $ 428,180 J.Jill, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (Unaudited) (Amounts in thousands) For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Net income $ 12,348 $ 11,616 Add (Less): Depreciation and amortization 5,257 5,792 Income tax provision 4,524 4,717 Interest expense (a) 2,849 6,501 Interest income (a) (494 ) (707 ) Adjustments: Equity-based compensation expense (b) 1,726 942 Write-off of property and equipment (c) 17 19 Amortization of cloud-based software implementation costs (d) 180 283 Adjustment for exited retail stores (e) — (632 ) Impairment of long-lived assets (f) 102 21 Loss due to hurricane (g) 252 — Other non-recurring items (h) 47 — Adjusted EBITDA $ 26,808 $ 28,552 Net sales (i) 151,260 150,881 Adjusted EBITDA margin 17.7 % 18.9 % (a) Beginning fiscal 2024, Interest income is presented separately from Interest expense. The prior period has been conformed with the current period presentation. (b) Represents expenses associated with equity incentive instruments granted to our management and Board of Directors. Incentive instruments are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grant. (c) Represents net gain or loss on the disposal of fixed assets. (d) Represents amortization of capitalized implementation costs related to cloud-based software arrangements that are included within Selling, general and administrative expenses. Adjusted EBITDA for the third quarter of fiscal 2023 has been restated to include such adjustments to Net income. (e) Represents non-cash gains associated with exiting store leases earlier than anticipated. (f) Represents impairment of long-lived assets related to right of use assets and leasehold improvements. (g) Represents loss on write-off of property and equipment and inventory at one store location due to hurricane. (h) Represents items management believes are not indicative of ongoing operating performance, including non-ordinary course legal and professional fees. (i) For the third quarter of fiscal 2023, Net sales includes $0.7 million of processing fee income that was previously included in Selling, general and administrative expenses. J.Jill, Inc. Reconciliation of GAAP Net Income to Adjusted EBITDA (Unaudited) (Amounts in thousands) For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Net income $ 37,235 $ 31,434 Add (Less): Depreciation and amortization 16,091 16,854 Income tax provision 13,827 13,346 Interest expense (a) 13,009 18,758 Interest expense - related party — 1,074 Interest income (a) (2,020 ) (1,750 ) Adjustments: Equity-based compensation expense (b) 4,676 2,757 Write-off of property and equipment (c) 74 65 Amortization of cloud-based software implementation costs (d) 645 399 Loss on extinguishment of debt (e) 8,570 — Loss on debt refinancing (f) — 12,702 Adjustment for exited retail stores (g) (615 ) (632 ) Impairment of long-lived assets (h) 413 66 Loss due to hurricane (i) 252 — Other non-recurring items (j) 485 2 Adjusted EBITDA $ 92,642 $ 95,075 Net sales (k) $ 468,015 $ 457,758 Adjusted EBITDA margin 19.8 % 20.8 % (a) Beginning fiscal 2024, Interest income is presented separately from Interest expense. The prior period has been conformed with the current period presentation. (b) Represents expenses associated with equity incentive instruments granted to our management and Board of Directors. Incentive instruments are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grant. (c) Represents net gain or loss on the disposal of fixed assets. (d) Represents amortization of capitalized implementation costs related to cloud-based software arrangements that are included within Selling, general and administrative expenses. Adjusted EBITDA for the thirty-nine weeks ended October 28, 2023 has been restated to include such adjustments to Net income. (e) Represents loss on the prepayment of a portion of the term loan. (f) Represents loss on the repayment of the Priming and the Subordinated Credit Agreement. (g) Represents non-cash gains associated with exiting store leases earlier than anticipated. (h) Represents impairment of long-lived assets related to right of use assets and leasehold improvements. (i) Represents loss on write-off of property and equipment and inventory at one store location due to hurricane. (j) Represents items management believes are not indicative of ongoing operating performance, including non-ordinary course legal and professional fees. (k) For the thirty-nine weeks ended October 28, 2023, Net sales includes $2.5 million of processing fee income that was previously included in Selling, general and administrative expenses. J.Jill, Inc. Reconciliation of GAAP Operating Income to Adjusted Income from Operations (Unaudited) (Amounts in thousands) For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Operating income $ 19,227 $ 22,127 Add (Less): Equity-based compensation expense (a) 1,726 942 Write-off of property and equipment (b) 17 19 Adjustment for exited retail stores (c) — (632 ) Impairment of long-lived assets (d) 102 21 Loss due to hurricane (e) 252 — Other non-recurring items (f) 47 — Adjusted income from operations $ 21,371 $ 22,477 For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Operating income $ 70,621 $ 75,564 Add (Less): Equity-based compensation expense (a) 4,676 2,757 Write-off of property and equipment (b) 74 65 Adjustment for exited retail stores (c) (615 ) (632 ) Impairment of long-lived assets (d) 413 66 Loss due to hurricane (e) 252 — Other non-recurring items (f) 485 2 Adjusted income from operations $ 75,906 $ 77,822 (a) Represents expenses associated with equity incentive instruments granted to our management and Board of Directors. Incentive instruments are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grant. Adjusted income from operations for the third quarter of fiscal 2023 and for the thirty-nine weeks ended October 28, 2023 has been restated to include such adjustments to Operating income. Beginning fiscal 2024, equity-based compensation expense is included as an adjustment. The prior period has been conformed with the current period presentation. (b) Represents net gain or loss on the disposal of fixed assets. Adjusted income from operations for the third quarter of fiscal 2023 and for the thirty-nine weeks ended October 28, 2023 has been restated to include such adjustments to Operating income. Beginning fiscal 2024, write-off of property and equipment is included as an adjustment. The prior period has been conformed with the current period presentation. (c) Represents non-cash gains associated with exiting store leases earlier than anticipated. (d) Represents impairment of long-lived assets related to right of use assets and leasehold improvements. (e) Represents loss on write-off of property and equipment and inventory at one store location due to hurricane. (f) Represents items management believes are not indicative of ongoing operating performance, including non-ordinary course legal and professional fees. J.Jill, Inc. Reconciliation of GAAP Net Income to Adjusted Net Income (Unaudited) (Amounts in thousands, except share and per share data) For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Net income $ 12,348 $ 11,616 Add: Income tax provision 4,524 4,717 Income before provision for income tax 16,872 16,333 Adjustments: Equity-based compensation expense (a) 1,726 942 Write-off of property and equipment (b) 17 19 Adjustment for exited retail stores (c) — (632 ) Impairment of long-lived assets (d) 102 21 Loss due to hurricane (e) 252 — Other non-recurring items (f) 47 — Adjusted income before income tax provision 19,016 16,683 Less: Adjusted tax provision (g) 5,172 4,655 Adjusted net income $ 13,844 $ 12,028 Adjusted net income per share: Basic $ 0.90 $ 0.85 Diluted $ 0.89 $ 0.83 Weighted average number of common shares: Basic 15,331,712 14,169,955 Diluted 15,490,876 14,448,228 (a) Represents expenses associated with equity incentive instruments granted to our management and Board of Directors. Incentive instruments are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grant. Adjusted net income for the third quarter of fiscal 2023 has been restated to include such adjustments to Net income. Beginning fiscal 2024, equity-based compensation expense is included as an adjustment. The prior period has been conformed with the current period presentation. (b) Represents net gain or loss on the disposal of fixed assets. Adjusted net income for the third quarter of fiscal 2023 has been restated to include such adjustments to Net income. Beginning fiscal 2024, write-off of property and equipment is included as an adjustment. The prior period has been conformed with the current period presentation. (c) Represents non-cash gains associated with exiting store leases earlier than anticipated. (d) Represents impairment of long-lived assets related to right of use assets and leasehold improvements. (e) Represents loss on write-off of property and equipment and inventory at one store location due to hurricane. (f) Represents items management believes are not indicative of ongoing operating performance, including non-ordinary course legal and professional fees. (g) The adjusted tax provision for adjusted net income is estimated by applying a rate of 27.2% for the third quarter of fiscal 2024 and 27.9% for the third quarter of fiscal 2023. J.Jill, Inc. Reconciliation of GAAP Net Income to Adjusted Net Income (Unaudited) (Amounts in thousands, except share and per share data) For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Net income $ 37,235 $ 31,434 Add: Income tax provision 13,827 13,346 Income before provision for income tax 51,062 44,780 Adjustments: Equity-based compensation expense (a) 4,676 2,757 Write-off of property and equipment (b) 74 65 Loss on extinguishment of debt (c) 8,570 — Loss on debt refinancing (d) — 12,702 Adjustment for exited retail stores (e) (615 ) (632 ) Impairment of long-lived assets (f) 413 66 Loss due to hurricane (g) 252 — Other non-recurring items (h) 485 2 Adjusted income before income tax provision 64,917 59,740 Less: Adjusted tax provision (i) 17,657 16,667 Adjusted net income $ 47,260 $ 43,073 Adjusted net income per share: Basic $ 3.19 $ 3.05 Diluted $ 3.15 $ 3.00 Weighted average number of common shares: Basic 14,831,762 14,130,734 Diluted 14,994,786 14,379,529 (a) Represents expenses associated with equity incentive instruments granted to our management and Board of Directors. Incentive instruments are accounted for as equity-classified awards with the related compensation expense recognized based on fair value at the date of the grant. Adjusted net income for the thirty-nine weeks ended October 28, 2023 has been restated to include such adjustments to Net income. Beginning fiscal 2024, equity-based compensation expense is included as an adjustment. The prior period has been conformed with the current period presentation. (b) Represents net gain or loss on the disposal of fixed assets. Adjusted net income for the thirty-nine weeks ended October 28, 2023 has been restated to include such adjustments to Net income. Beginning fiscal 2024, write-off of property and equipment is included as an adjustment. The prior period has been conformed with the current period presentation. (c) Represents loss on the prepayment of a portion of the term loan. (d) Represents loss on the repayment of the Priming and Subordinated Credit Agreement. (e) Represents non-cash gains associated with exiting store leases earlier than anticipated. (f) Represents impairment of long-lived assets related to right of use assets and leasehold improvements. (g) Represents loss on write-off of property and equipment and inventory at one store location due to hurricane. (h) Represents items management believes are not indicative of ongoing operating performance, including non-ordinary course legal and professional fees. (i) The adjusted tax provision for adjusted net income is estimated by applying a rate of 27.2% for the thirty-nine weeks ended November 2, 2024 and 27.9% for the thirty-nine weeks ended October 28, 2023. J.Jill, Inc. Selected Cash Flow Information (Unaudited) (Amounts in thousands) Summary Data from the Statement of Cash Flows For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Net cash provided by operating activities $ 19,067 $ 21,067 Net cash used in investing activities (5,487 ) (3,655 ) Net cash used in financing activities (3,281 ) (2,200 ) Net change in cash and cash equivalents 10,299 15,212 Cash and cash equivalents: Beginning of Period 28,466 48,903 End of Period $ 38,765 $ 64,115 For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Net cash provided by operating activities $ 56,947 $ 56,682 Net cash used in investing activities (10,047 ) (10,760 ) Net cash used in financing activities (70,307 ) (68,860 ) Net change in cash and cash equivalents (23,407 ) (22,938 ) Cash and cash equivalents: Beginning of Period 62,172 87,053 End of Period $ 38,765 $ 64,115 Reconciliation of GAAP Cash from Operations to Free Cash Flow For the Thirteen Weeks Ended November 2, 2024 October 28, 2023 Net cash provided by operating activities $ 19,067 $ 21,067 Less: Capital expenditures (a) (5,487 ) (3,655 ) Free cash flow $ 13,580 $ 17,412 For the Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Net cash provided by operating activities $ 56,947 $ 56,682 Less: Capital expenditures (a) (10,047 ) (10,760 ) Free cash flow $ 46,900 $ 45,922 (a) Capital expenditures reflects net cash used in investing activities, which includes capitalized interest and excludes cash received from landlords for tenant allowances. View source version on businesswire.com: https://www.businesswire.com/news/home/20241211903405/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Israeli airstrike kills nine Palestinians in Gaza: SourcesDetroit Pistons @ Denver Nuggets Current Records: Detroit 14-17, Denver 16-13 When: Saturday, December 28, 2024 at 9 p.m. ET Where: Ball Arena -- Denver, Colorado TV: Altitude Sports & Entertainmnt Follow: CBS Sports App Online streaming: fuboTV (Try for free. Regional restrictions may apply.) Ticket Cost: $43.05 The Nuggets are 8-2 against the Pistons since February of 2020, and they'll have a chance to extend that success on Saturday. Having just played yesterday, the Denver Nuggets will get right back to it and host the Detroit Pistons at 9:00 p.m. ET at Ball Arena. The Nuggets are strutting in with some offensive muscle as they've averaged 119.6 points per game this season. The Nuggets' offense and defense might be a bit winded after their high-scoring matchup with the Cavaliers on Friday. The Nuggets took a 149-135 bruising from the Cavaliers. Denver has now taken an 'L' in back-to-back games. The Nuggets might have lost, but man, Nikola Jokic was a machine: he dropped a triple-double on 27 points, 14 rebounds, and 13 assists. The game was Jokic's fifth in a row with at least 30 points. The team also got some help courtesy of Jamal Murray, who dropped a double-double on 27 points and 11 assists. Meanwhile, the Pistons had already won two in a row and they went ahead and made it three on Thursday. They skirted by Sacramento 114-113 thanks to a clutch free throw from Jaden Ivey with 3 seconds left in the fourth quarter. The win was all the more spectacular given Detroit was down by 19 with 10:12 left in the third quarter. Among those leading the charge was Cade Cunningham, who dropped a double-double on 33 points and ten assists. The Pistons are 5-2 when Cunningham posts 20 or more points, but 9-15 otherwise. Denver's defeat ended a three-game streak of wins at home and dropped them to 16-13. As for Detroit, their victory was their third straight on the road, which pushed their record up to 14-17. Looking forward, the Nuggets are the favorite in this one, as the experts expect to see them win by 5.5 points. Against the spread, they have been a house darling this year with a chancy 11-17 ATS record. The Nuggets strolled past the Pistons in their previous meeting back in January by a score of 131-114. Do the Nuggets have another victory up their sleeve, or will the Pistons turn the tables on them? We'll have the answer soon enough. Denver is a solid 5.5-point favorite against Detroit, according to the latest NBA odds . The oddsmakers were right in line with the betting community on this one, as the game opened as a 5.5-point spread, and stayed right there. The over/under is 231 points. See NBA picks for every single game, including this one, from SportsLine's advanced computer model. Get picks now . Denver has won 8 out of their last 10 games against Detroit. Jan 07, 2024 - Denver 131 vs. Detroit 114 Nov 20, 2023 - Denver 107 vs. Detroit 103 Mar 16, 2023 - Denver 119 vs. Detroit 100 Nov 22, 2022 - Detroit 110 vs. Denver 108 Jan 25, 2022 - Denver 110 vs. Detroit 105 Jan 23, 2022 - Denver 117 vs. Detroit 111 May 14, 2021 - Denver 104 vs. Detroit 91 Apr 06, 2021 - Denver 134 vs. Detroit 119 Feb 25, 2020 - Denver 115 vs. Detroit 98 Feb 02, 2020 - Detroit 128 vs. Denver 123
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The Arlington Entertainment District is expected to have new areas where rideshare pick-up and drop-off won’t be allowed. The City Council voted unanimously to give initial approval to updates adding areas around Globe Life Field to the list of areas where rideshare can’t make stops for passengers. Get Arlington news that matters. Sign up for local stories in your inbox every Thursday. Arlington police told KERA in an emailed statement that the updates are more housekeeping than anything. Rules for rideshare and other for-hire drivers in the entertainment district were last updated before the opening of Globe Life Field. The changes also addressed some street name changes that have happened since the last update, such as Legends Way being renamed to AT&T Way. Many of these areas are already marked as no stopping or no pick-up and drop-off locations. Police said in the statement that the goal is to keep people safe, keep traffic flowing and make trips through to the Arlington Entertainment District or to events smoother. “Whenever we host a Cowboys game, Rangers game, or other major event, one of our primary goals is to get the thousands of visitors who attend those events in and out of the Entertainment District as safely and efficiently as possible,” police wrote in the statement. Having rules that prohibit drivers from stopping in the road to drop-off or load passengers means fewer people being let out at unsafe places and less chance a stopping car will disrupt traffic, police said. The stadiums in the entertainment district do have dedicated areas for rideshare pick-up and drop-off, though. Uber, Lyft, Via and other rideshare services can stop at Lot C for Globe Life Field events and Lot 15 for trips to and from AT&T Stadium. Police said those designated spots are clearly marked with signs directing both passengers and drivers to those areas. “Following events, we often have traffic control measures in place such as lane closures and one-way roadways to help facilitate the mass exit of fans from the Entertainment District,” police told KERA. “As a result, a rideshare driver may not be able to navigate to where their rider is if that rider is at a non-designated location around the stadiums.” That can be confusing and cause delays for rideshare drivers and frustrating for passengers, police said. Having pick-up and drop-off in designated areas also makes it easier for authorities to keep an eye on things, increasing safety in the area. Restrictions on rideshare drop-off and pick-up locations aren’t new or uncommon. Cities across Dallas-Fort Worth have adopted similar rules in high-traffic areas in recent years, such as rules about where rideshare drivers can stop in Fort Worth’s West 7th entertainment district. Arlington City Council voted Tuesday to give initial approval to the changes. Council members are expected to vote again for final approval at the Dec. 17 evening meeting. James Hartley is KERA’s Arlington accountability reporter. Email him at jhartley@kera.org . Related Fort Worth Report is certified by the Journalism Trust Initiative for adhering to standards for ethical journalism . Republish This Story Republishing is free for noncommercial entities. Commercial entities are prohibited without a licensing agreement. Contact us for details. This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License . Look for the "Republish This Story" button underneath each story. To republish online, simply click the button, copy the html code and paste into your Content Management System (CMS). Do not copy stories straight from the front-end of our web-site. You are required to follow the guidelines and use the republication tool when you share our content. The republication tool generates the appropriate html code. You can’t edit our stories, except to reflect relative changes in time, location and editorial style. You can’t sell or syndicate our stories. Any web site our stories appear on must include a contact for your organization. If you use our stories in any other medium — for example, newsletters or other email campaigns — you must make it clear that the stories are from the Fort Worth Report. In all emails, link directly to the story at fortworthreport.org and not to your website. If you share our stories on social media, please tag us in your posts using @FortWorthReport on Facebook and @FortWorthReport on Twitter. You have to credit Fort Worth Report. Please use “Author Name, Fort Worth Report” in the byline. If you’re not able to add the byline, please include a line at the top of the story that reads: “This story was originally published by Fort Worth Report” and include our website, fortworthreport.org . You can’t edit our stories, except to reflect relative changes in time, location and editorial style. Our stories may appear on pages with ads, but not ads specifically sold against our stories. You can’t sell or syndicate our stories. You can only publish select stories individually — not as a collection. Any web site our stories appear on must include a contact for your organization. If you share our stories on social media, please tag us in your posts using @FortWorthReport on Facebook and @FortWorthReport on Twitter. by James Hartley, Fort Worth Report December 11, 2024
Senators took down one Trump Cabinet pick. But the fight over their authority is just beginning
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