In its second-largest acquisition, Amazon buys the company for $970 million.
Sales at JJill.com totaled $12.4 million up from $6 million a year ago, accounting for 23% of direct channel (excluding retail stores) sales volume, nearly double the 12% of a year ago.
Internet sales at apparel retailer J. Jill Group Inc. doubled in the first quarter ended March 31 this year over first quarter of last year. Sales at JJill.com totaled $12.4 million up from $6 million a year ago. Internet sales account for 23% of direct channel (excluding retail stores) sales volume, nearly double the 12% of a year ago. Sales by Internet and catalog combined grew 13% over the year-earlier period to $53 million.
Companywide, first quarter sales increased 30.3% to $63.3 million from $48.6 million a year ago. Operating income for the quarter totaled $1.6 million, representing a 21.9% increase over last year`s $1.3 million. Net income for the period increased by 47.1% to $796,000 from $541,000 reported in the comparable period last year.
"We are pleased to have achieved a 30% sales increase accompanied by a 47% increase in net income for the first quarter of 2001 in a very difficult retail and economic environment,” said Gordon R. Cooke, president and CEO. “These results were achieved even as we continued to make significant investments in our retail store roll-out and enhanced our e-commerce channel of distribution."
The J. Jill Group sells upscale women`s apparel, accessories and footwear designed to appeal to active, affluent women age 35 and older.