Shares of retailer J.Jill Inc. tumbled 10% in premarket trade Tuesday, after the company beat second-quarter earnings estimates and offered a slightly soft outlook. The company said it had net income of $11.9 million, or 28 cents a share, in the quarter, up from $8.1 million, or 19 cents a share, in the year-earlier period. Adjusted per-share earnings came to 29 cents, matching the FactSet consensus. Sales rose to $181.4 million from $165.0 million, also ahead of the FactSet consensus of $179 million. Same-store sales rose 7.8%, ahead of the FactSet consensus of 7.7%. For the third quarter, the company is expecting adjusted EPS of 18 cents to 20 cents, compared with the FactSet consensus of 20 cents. Same-store sales are expected to climb in the high single digits. For the full year, the company is expecting adjusted EPS of 81 cents to 85 cents, compared with a FactSet consensus of 84 cents. Shares are down 4.1% in the month to date, while the S&P 500 has fallen 1.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News