Here's Why There's an Unwanted Half-Off Sale on J. Jill's Shares

Here's Why There's an Unwanted Half-Off Sale on J. Jill's Shares

Shares of J. Jill (NYSE: JILL), a specialty retailer that caters primarily to mature women, hit the clearance rack when they were halved during Thursday's trading session. The culprit for the company's plunge that reached as high as 52% was a fiscal third-quarter sales and earnings update released after the closing bell on Wednesday.

Following the close of trading on Wednesday, J. Jill announced that it anticipates same-store sales will fall 3% to 5% in the third quarter, with adjusted earnings per share (EPS) coming in between $0.08 and $0.10. Comparably, Wall Street had been looking for a same-store sales increase of around 7% and $0.18 to $0.20 in adjusted EPS. 

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Source: Fool.com