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Learn moreOn September 9, 2026, J.Jill, Inc. (NYSE:JILL) reported second-quarter fiscal 2026 results for the period ended August 1, 2026. Net sales rose 0.5% to $154.8 million, adjusted EBITDA climbed to $32.8 million from $25.6 million, and adjusted earnings per diluted share jumped to $1.24 from $0.81 a year earlier. Management raised full-year sales guidance to flat-to-2% growth and its third-quarter comparable sales outlook to 1% to 3% growth.
Bulls: A Younger, Higher-Spending Customer File is Showing Up, and Four Analysts Like What They See
BTIG lifted its price target for J.Jill, Inc. (NYSE:JILL) to $25 from $18 while maintaining a Buy rating, describing the second quarter as a meaningful turning point following the leadership change. The firm highlighted positive comparable sales, better full-price performance, a more stable customer base, and accelerating customer acquisition.
Jefferies raised its target to $25 from $16, keeping Buy, calling the report "a solid step in the right direction" as assortment initiatives gain traction.
TD Cowen increased its price target to $22 from $18 while maintaining a Hold rating, pointing to solid execution as a reason for greater confidence in the company's recovery.
Telsey Advisory raised its target to $23 from $18 but held a Market Perform rating, calling the improved outlook encouraging while flagging near-term concerns around the still-evolving customer file and macro uncertainty.
The customer data backs the enthusiasm: CEO Mary Ellen Coyne said new-to-brand acquisition is accelerating with incoming shoppers skewing younger and spending more per visit, direct sales grew 1.9% to $73 million (47.1% of total revenue), and inventory is down 5% year-over-year even as the store fleet grew to 255 locations from 247.
Bears: A One-Time Refund is Doing Most of the Heavy Lifting on the Bottom Line
None of the four analysts on record downgraded the stock, but two maintained neutral ratings, while the numbers underneath provide reasons for caution.
The reported gross margin surged 840 basis points to 76.8%, largely reflecting the $13.3 million tariff refund. Without that benefit, gross margin stood excluding the tariff refund at 68.3%, unchanged from the prior year, indicating no underlying expansion in core margins. Adjusted EBITDA was $20.1 million after excluding the refund, $600,000 in strategic investments and higher shipping costs, compared with $32.8 million on a reported basis.
CFO Mark Webb said about $600,000 of the refund had already been absorbed by rising expenses, including fuel surcharges on shipping. Store sales declined 0.7% from a year earlier, leaving digital sales to drive the quarter's performance. Meanwhile, SG&A increased to $94.6 million from $88.6 million due to new-store expenses, higher occupancy costs following lease renewals and increased marketing. Delays in landlord deliveries have also shifted two planned openings into early 2027, prompting the company to reduce its full-year net new-store outlook to one to three locations.
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