J. Jill Falters in Q1, Cabela's Shows Increase
The multichannel marketer of apparel for women older than 35 also said net sales for the quarter dropped 1.6 percent compared with the same period last year to $98.4 million. Comparable-store sales decreased 6 percent.
In the direct segment, net sales per 1,000 square inches circulated rose 4.2 percent from last year. The company said the increase was lower than expected considering the nearly 20 percent year-over-year reduction in its catalog circulation.
"We currently plan to continue our circulation strategy of mailing only to breakeven or above, even if the end result is a downsizing of this portion of our business," J. Jill president/CEO Gordon R. Cooke said in a statement.
In other news, Cabela's Inc., Sidney, NE, said yesterday that revenue for its first fiscal quarter ended April 2 increased 11.7 percent to $350.6 million. Comparable-store sales, however, decreased 6.3 percent versus the same period last year.
The multichannel marketer of hunting, fishing and outdoors gear said its direct revenue rose 11.4 percent in the quarter to $229.4 million. Also, financial services revenue increased 39.3 percent to $22.9 million.
Cabela's generated operating income in the first quarter of $11 million.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters