Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 28, 2017 | Dec. 12, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Oct. 28, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | JILL | |
Entity Registrant Name | J.Jill, Inc. | |
Entity Central Index Key | 1,687,932 | |
Current Fiscal Year End Date | --02-03 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,747,944 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 |
Current assets: | ||
Cash | $ 25,806 | $ 13,468 |
Accounts receivable | 9,062 | 3,851 |
Inventories, net | 85,406 | 66,641 |
Prepaid expenses and other current assets | 16,385 | 18,559 |
Receivable from related party | 1,922 | |
Total current assets | 136,659 | 104,441 |
Property and equipment, net | 113,126 | 102,322 |
Intangible assets, net | 152,591 | 163,483 |
Goodwill | 197,026 | 197,026 |
Other assets | 743 | 1,033 |
Total assets | 600,145 | 568,305 |
Current liabilities: | ||
Accounts payable | 56,524 | 38,438 |
Accrued expenses and other current liabilities | 48,324 | 46,121 |
Current portion of long-term debt | 2,799 | 2,799 |
Total current liabilities | 107,647 | 87,358 |
Long-term debt, net of discount and current portion | 244,078 | 264,440 |
Deferred income taxes | 71,169 | 73,511 |
Other liabilities | 27,526 | 20,132 |
Total liabilities | 450,420 | 445,441 |
Commitments and contingencies (see Note 9) | ||
Shareholders’ / Members’ Equity | ||
Common stock, par value $0.01 per share; 250,000,000 shares authorized; 43,747,944 shares issued and outstanding at October 28, 2017 | 437 | |
Common units, zero par value, 1,000,000 units authorized, issued and outstanding at January 28, 2017 | 0 | |
Contributed capital | 116,743 | |
Additional paid-in capital | 117,150 | |
Accumulated earnings | 32,138 | 6,121 |
Total shareholders’ equity | 149,725 | |
Total members’ equity | 122,864 | |
Total liabilities and shareholders’ / members’ equity | $ 600,145 | $ 568,305 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Oct. 28, 2017 | Jan. 28, 2017 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | |
Common stock, shares authorized | 250,000,000 | |
Common stock, shares issued | 43,747,944 | |
Common stock, shares outstanding | 43,747,944 | |
Common units, par value | ||
Common units, authorized | 1,000,000 | |
Common units, issued | 1,000,000 | |
Common units, outstanding | 1,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Income Statement [Abstract] | ||||
Net sales | $ 161,975 | $ 159,439 | $ 509,473 | $ 472,139 |
Costs of goods sold | 53,479 | 51,334 | 162,721 | 149,673 |
Gross profit | 108,496 | 108,105 | 346,752 | 322,466 |
Selling, general and administrative expenses | 95,240 | 92,638 | 289,284 | 273,882 |
Operating income | 13,256 | 15,467 | 57,468 | 48,584 |
Interest expense | 4,496 | 4,844 | 14,525 | 13,630 |
Income before provision for income taxes | 8,760 | 10,623 | 42,943 | 34,954 |
Provision for income taxes | 2,766 | 2,815 | 16,926 | 12,924 |
Net income and total comprehensive income | $ 5,994 | $ 7,808 | $ 26,017 | $ 22,030 |
Net income per common share attributable to common shareholders: | ||||
Basic | $ 0.14 | $ 0.18 | $ 0.62 | $ 0.50 |
Diluted | $ 0.14 | $ 0.18 | $ 0.60 | $ 0.50 |
Weighted average number of common shares outstanding: | ||||
Basic | 41,731,765 | 43,747,944 | 41,933,244 | 43,747,944 |
Diluted | 43,554,000 | 43,747,944 | 43,468,846 | 43,747,944 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' / Members' Equity - 9 months ended Oct. 28, 2017 - USD ($) $ in Thousands | Total | Common Units [Member] | Common Stock [Member] | Contributed Capital [Member] | Additional Paid-in Capital [Member] | Accumulated Earnings [Member] |
Beginning balance at Jan. 28, 2017 | $ 122,864 | $ 116,743 | $ 6,121 | |||
Beginning balance, units at Jan. 28, 2017 | 1,000,000 | 1,000,000 | ||||
Other equity transactions | $ 305 | 305 | ||||
Other equity transactions, units | 0 | |||||
Other equity transactions, shares | 0 | |||||
Corporate conversion | $ 0 | (117,048) | $ 117,048 | |||
Corporate conversion, units | (1,000,000) | |||||
Corporate conversion, shares | 0 | |||||
Issuance of common stock | $ 437 | (437) | ||||
Issuance of common stock, units | 0 | |||||
Issuance of Common Stock, shares | 43,747,944 | |||||
Equity-based compensation | 539 | 539 | ||||
Equity-based compensation, shares | 0 | |||||
Net income | 26,017 | 26,017 | ||||
Ending Balance at Oct. 28, 2017 | $ 149,725 | $ 437 | $ 0 | $ 117,150 | $ 32,138 | |
Ending balance, units at Oct. 28, 2017 | 0 | |||||
Ending balance, shares at Oct. 28, 2017 | 43,747,944 | 43,747,944 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 28, 2017 | Oct. 29, 2016 | |
Statement Of Cash Flows [Abstract] | ||
Net income | $ 26,017 | $ 22,030 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 25,759 | 27,282 |
Loss on disposal of fixed assets | 569 | 384 |
Noncash amortization of deferred financing and debt discount costs | 2,012 | 1,139 |
Equity-based compensation | 539 | 458 |
Deferred rent liability | 978 | 1,851 |
Deferred income taxes | (2,342) | (1,495) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (5,211) | (8,174) |
Tax receivable | 2,356 | |
Inventories | (18,764) | (14,634) |
Prepaid expenses and other current assets | 2,173 | (31) |
Accounts payable | 15,278 | (1,984) |
Accrued taxes payable | 756 | |
Accrued expenses | (89) | 4,948 |
Other noncurrent assets and liabilities | 6,860 | 2,950 |
Net cash provided by operating activities | 54,535 | 37,080 |
Investing activities: | ||
Purchases of property and equipment | (22,325) | (25,815) |
Net cash used in investing activities | (22,325) | (25,815) |
Financing activities: | ||
Repayments on long-term debt | (22,099) | (2,075) |
Proceeds from long-term debt | 40,000 | |
Payment of debt issuance costs | (1,668) | |
Receivable from related party | 2,227 | 233 |
Distribution to member | (70,000) | |
Other equity transactions | (305) | |
Net cash used in financing activities | (19,872) | (33,815) |
Net change in cash | 12,338 | (22,550) |
Cash: | ||
Beginning of Period | 13,468 | 27,505 |
End of Period | $ 25,806 | $ 4,955 |
Description of Business
Description of Business | 9 Months Ended |
Oct. 28, 2017 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Description of Business | 1. Description of Business J.Jill, Inc., “J.Jill” or the “Company,” is a nationally recognized women’s apparel brand focused on a loyal, engaged and affluent customer in the attractive 40-65 age segment. The J.Jill brand represents an easy, relaxed and inspired style that reflects the confidence and comfort of a woman with a rich, full life. We operate a highly profitable omnichannel platform that is well diversified across our direct and retail channels. We began as a catalog company and have been a pioneer of the omnichannel model with a compelling presence across stores, website and catalog since 1999. We take a data-centric approach, in which we leverage our database and apply our insights to manage our business as well as to acquire and engage customers to drive optimum value and productivity. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 28, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Presentation Our interim consolidated financial statements are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these interim consolidated financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The consolidated balance sheet as of January 28, 2017 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the thirteen and thirty-nine weeks ended October 28, 2017 are not necessarily indicative of future results or results to be expected for the full year ending February 3, 2018. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended January 28, 2017. During the first quarter of 2017, Jill Intermediate LLC completed a corporate conversion from a Delaware limited liability company into a Delaware corporation and changed its name to J.Jill, Inc. Subsequent to this corporate conversion, J.Jill, Inc. completed an initial public offering (“IPO”). Refer to Note 7 Shareholders’ Equity for further details of the corporate conversion and IPO. Recently Adopted Accounting Pronouncements In May 2017, the FASB issued ASU 2017-09, Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350) Simplifying the Accounting for Goodwill Impairment adoption of ASU 2017-04 was done on a prospective basis and did not have a material impact on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share—Based Payment Accounting adoption of ASU 2016-09 was done on a prospective basis and did not have a material impact on the consolidated financial statements. In July 2015, the FASB issued ASU 2015-11 , Simplifying the Measurement of Inventory adoption of ASU 2015-11 was done on a prospective basis and did not have a material impact on the consolidated financial statements. Recently Issued Accounting Pronouncements In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra—Entity Transfers of Assets Other Than Inventory In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows—Classification of Certain Cash Receipts and Cash Payments, In February 2016, the FASB issued ASU 2016-02, Leases In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date Revenue from Contracts with Customers: Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606) Identifying Performance Obligations and Licensing Revenues from Contracts with Customers: Narrow—Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, Based on the Company’s preliminary assessment of these standards, it has identified certain changes to accounting policies, including the timing of revenue recognition, direct response advertising costs and the gross versus net presentation of merchandise returns. The Company is continuing to assess the impact of the standards through evaluation of customer programs and relevant contracts. The Company plans to adopt these standards beginning in the first quarter of fiscal 2018 using the modified retrospective approach with a cumulative adjustment to retained earnings. |
Debt
Debt | 9 Months Ended |
Oct. 28, 2017 | |
Debt Disclosure [Abstract] | |
Debt | 3. Debt The components of the Company’s outstanding Term Loan were as follows (in thousands): October 28, 2017 January 28, 2017 Term Loan $ 253,876 $ 275,975 Discount on debt and debt issuance costs (6,999 ) (8,736 ) Less: Current portion (2,799 ) (2,799 ) Net long-term debt $ 244,078 $ 264,440 On June 16, 2017, the Company made a voluntary prepayment of $20.2 million, including accrued interest, on the Term Loan. The Company was in compliance with all financial covenants as of October 28, 2017. |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes The Company recorded income tax expense of $2.8 million and $16.9 million during the thirteen and thirty-nine weeks ended October 28, 2017, respectively, and $2.8 million and $12.9 million during the thirteen and thirty-nine weeks ended October 29, 2016, respectively. The effective tax rates were 31.6% and 39.4% in the thirteen and thirty-nine weeks ended October 28, 2017, respectively, and 26.5% and 37.0% in the thirteen and thirty-nine weeks ended October 29, 2016, respectively. The effective tax rates for the thirteen weeks ended October 28, 2017 and October 29, 2016 are lower than the federal statutory rate of 35.0% primarily due to federal research and development tax credits, Massachusetts manufacturing tax credits and provision to tax return true-up adjustments. The effective tax rates for the thirty-nine weeks ended October 28, 2017 and October 29, 2016 exceed the federal statutory rate of 35.0% primarily due to state income taxes and non-deductible IPO related expenses. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Oct. 28, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5. Earnings Per Share The following table summarizes the computation of basic and diluted net income per share attributable to common shareholders (in thousands, except share and per share data): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 Numerator Net income attributable to common shareholders: $ 5,994 $ 7,808 $ 26,017 $ 22,030 Denominator Weighted average number of common shares outstanding, basic: 41,731,765 43,747,944 41,933,244 43,747,944 Dilutive effect of restricted shares 1,822,235 — 1,535,602 — Weighted average number of common shares outstanding, diluted: 43,554,000 43,747,944 43,468,846 43,747,944 Net income per common share attributable to common shareholders, basic: $ 0.14 $ 0.18 $ 0.62 $ 0.50 Net income per common share attributable to common shareholders, diluted: $ 0.14 $ 0.18 $ 0.60 $ 0.50 The weighted average common shares for the diluted earnings per share calculation exclude the impact of outstanding equity awards if the assumed proceeds per share of the award is in excess of the related fiscal period’s average price of the Company’s common stock. Such awards are excluded because they would have an antidilutive effect. There were 277,006 and 270,090 such awards excluded for the thirteen and thirty-nine weeks ended October 28, 2017. There were no awards excluded for the thirteen and thirty-nine weeks ended October 29, 2016. |
Equity-Based Compensation
Equity-Based Compensation | 9 Months Ended |
Oct. 28, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity-Based Compensation | 6. Equity-Based Compensation Compensation expense was $0.3 million and $0.5 million for the thirteen and thirty-nine weeks ended October 28, 2017, respectively, and $0.2 million and $0.5 million for the thirteen and thirty-nine weeks ended October 29, 2016. |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Oct. 28, 2017 | |
Equity [Abstract] | |
Shareholders' Equity | 7. Shareholders’ Equity On February 24, 2017, the Company completed a corporate conversion from a Delaware limited liability company named Jill Intermediate LLC into a Delaware corporation and changed its name to J.Jill, Inc. In conjunction with the corporate conversion, all of the outstanding equity of Jill Intermediate LLC converted into shares of common stock of J.Jill, Inc. Following the Company’s conversion from a limited liability company to a corporation, JJill Holdings, Inc. merged with and into J.Jill, Inc. on February 24, 2017, with J.Jill, Inc. continuing as the surviving entity. On March 14, 2017, J.Jill, Inc. completed an IPO. An existing shareholder of the Company sold 11,666,667 shares of the Company’s common stock at a share price of $13.00 per share. The underwriters subsequently elected to exercise their over-allotment option to purchase an additional 865,000 shares of common stock from the selling shareholder at the IPO price of $13.00 per share. All proceeds of the IPO, net of the underwriter’s discount, were distributed to the selling shareholder. Upon the closing of the IPO on March 14, 2017, JJill Topco Holdings, LP (“Topco”) completed a distribution of J.Jill, Inc. common stock to its partners that held vested and unvested common interests in accordance with its limited partnership agreement. The shares of J.Jill, Inc. common stock distributed in respect of unvested common interests became restricted J.Jill, Inc. common stock, subject to the original vesting terms of such common interests. Holders of vested and unvested common interests received a pro-rata distribution of vested and unvested J.Jill, Inc. common stock, equal to their fair value of common interests immediately prior to the distribution, resulting in no incremental fair value. As a result, 2,385,001 shares of the 43,747,944 shares of J.Jill, Inc. common shares were treated as restricted shares upon closing of the IPO and will vest in accordance with the original vesting terms of the common interests. All restricted shares of J.Jill, Inc. continue to be considered outstanding shares for legal purposes. The restricted shares have been included in diluted earnings per share. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Oct. 28, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. Related Party Transactions For the thirty-nine weeks ended October 28, 2017, the Company incurred an immaterial amount of out-of-pocket expenses in relation to the advisory services agreement with a related party. These expenses are included in operating expenses in the accompanying consolidated statements of operations and comprehensive income. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 28, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 9. Commitments and Contingencies Operating Lease Agreements The Company recorded a deferred lease liability of $8.9 million and $6.5 million as of October 28, 2017 and January 28, 2017, respectively. In certain instances, the Company also receives tenant improvement incentives for its store leases, which it accrues and amortizes ratably over the life of the lease. The Company maintained a tenant improvement incentive liability of $15.4 million and $9.9 million as of October 28, 2017 and January 28, 2017, respectively. Total rental and common area maintenance expense was $15.2 million and $44.6 million for the thirteen and thirty-nine weeks ended October 28, 2017, respectively, exclusive of contingent rental expense recorded of $0.4 million and $1.2 million for the same respective periods. Total rental and common area maintenance expense was $13.6 million and $41.1 million for the thirteen and thirty-nine weeks ended October 29, 2016, respectively, exclusive of contingent rental expense recorded of $0.5 million and $1.4 million for the same respective periods. Legal Proceedings Shareholder Class Action Lawsuits On October 13, 2017, a securities lawsuit was filed in the United States District Court for the District of Massachusetts against the Company, several members of our Board of Directors and our Chief Financial Officer, among others. The complaint is brought under the Securities Act of 1933 and seeks certification of a class of plaintiffs comprised of all shareholders that acquired stock issued by the Company in its initial public offering in March 2017. The plaintiffs would seek compensation for losses they incurred since purchasing the stock. Following the filing of this lawsuit, two additional, similar actions were brought in the same court. It is likely that these matters will eventually be consolidated and no material amount has been accrued. The Company has not yet filed responsive pleadings in these matters. The Company believes the claims are without merit and intends to defend the matter vigorously. We are not presently party to any other legal proceedings the resolution of which we believe would have a material adverse effect on our business, financial condition, operating results or cash flows. We establish reserves for specific legal matters when we determine that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Our interim consolidated financial statements are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these interim consolidated financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The consolidated balance sheet as of January 28, 2017 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the thirteen and thirty-nine weeks ended October 28, 2017 are not necessarily indicative of future results or results to be expected for the full year ending February 3, 2018. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended January 28, 2017. During the first quarter of 2017, Jill Intermediate LLC completed a corporate conversion from a Delaware limited liability company into a Delaware corporation and changed its name to J.Jill, Inc. Subsequent to this corporate conversion, J.Jill, Inc. completed an initial public offering (“IPO”). Refer to Note 7 Shareholders’ Equity for further details of the corporate conversion and IPO. |
Recently Adopted and Issued Accounting Pronouncements | Recently Adopted Accounting Pronouncements In May 2017, the FASB issued ASU 2017-09, Compensation — Stock Compensation (Topic 718): Scope of Modification Accounting In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350) Simplifying the Accounting for Goodwill Impairment adoption of ASU 2017-04 was done on a prospective basis and did not have a material impact on the consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share—Based Payment Accounting adoption of ASU 2016-09 was done on a prospective basis and did not have a material impact on the consolidated financial statements. In July 2015, the FASB issued ASU 2015-11 , Simplifying the Measurement of Inventory adoption of ASU 2015-11 was done on a prospective basis and did not have a material impact on the consolidated financial statements. Recently Issued Accounting Pronouncements In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra—Entity Transfers of Assets Other Than Inventory In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows—Classification of Certain Cash Receipts and Cash Payments, In February 2016, the FASB issued ASU 2016-02, Leases In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date Revenue from Contracts with Customers: Principal versus Agent Considerations Revenue from Contracts with Customers (Topic 606) Identifying Performance Obligations and Licensing Revenues from Contracts with Customers: Narrow—Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, Based on the Company’s preliminary assessment of these standards, it has identified certain changes to accounting policies, including the timing of revenue recognition, direct response advertising costs and the gross versus net presentation of merchandise returns. The Company is continuing to assess the impact of the standards through evaluation of customer programs and relevant contracts. The Company plans to adopt these standards beginning in the first quarter of fiscal 2018 using the modified retrospective approach with a cumulative adjustment to retained earnings. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Debt Disclosure [Abstract] | |
Components of Outstanding Term Loan | The components of the Company’s outstanding Term Loan were as follows (in thousands): October 28, 2017 January 28, 2017 Term Loan $ 253,876 $ 275,975 Discount on debt and debt issuance costs (6,999 ) (8,736 ) Less: Current portion (2,799 ) (2,799 ) Net long-term debt $ 244,078 $ 264,440 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Income Per Share Attributable to Common Shareholders | The following table summarizes the computation of basic and diluted net income per share attributable to common shareholders (in thousands, except share and per share data): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 Numerator Net income attributable to common shareholders: $ 5,994 $ 7,808 $ 26,017 $ 22,030 Denominator Weighted average number of common shares outstanding, basic: 41,731,765 43,747,944 41,933,244 43,747,944 Dilutive effect of restricted shares 1,822,235 — 1,535,602 — Weighted average number of common shares outstanding, diluted: 43,554,000 43,747,944 43,468,846 43,747,944 Net income per common share attributable to common shareholders, basic: $ 0.14 $ 0.18 $ 0.62 $ 0.50 Net income per common share attributable to common shareholders, diluted: $ 0.14 $ 0.18 $ 0.60 $ 0.50 |
Description of Business - Addit
Description of Business - Additional Information (Detail) | 9 Months Ended |
Oct. 28, 2017 | |
Minimum [Member] | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Age range of customers | 40 years |
Maximum [Member] | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Age range of customers | 65 years |
Debt - Components of Outstandin
Debt - Components of Outstanding Term Loan (Detail) - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 |
Long Term Debt [Abstract] | ||
Term Loan | $ 253,876 | $ 275,975 |
Discount on debt and debt issuance costs | (6,999) | (8,736) |
Less: Current portion | (2,799) | (2,799) |
Net long-term debt | $ 244,078 | $ 264,440 |
Debt - Additional Information (
Debt - Additional Information (Detail) $ in Millions | Jun. 16, 2017USD ($) |
Term Loan [Member] | |
Debt Instrument [Line Items] | |
Voluntary prepayment of debt including accrued interest | $ 20.2 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense | $ 2,766 | $ 2,815 | $ 16,926 | $ 12,924 |
Effective income tax rate | 31.60% | 26.50% | 39.40% | 37.00% |
Federal statutory rate | 35.00% | 35.00% | 35.00% | 35.00% |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Net Income Per Share Attributable to Common Shareholders (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Numerator | ||||
Net income attributable to common shareholders: | $ 5,994 | $ 7,808 | $ 26,017 | $ 22,030 |
Denominator | ||||
Weighted average number of common shares outstanding, basic: | 41,731,765 | 43,747,944 | 41,933,244 | 43,747,944 |
Dilutive effect of restricted shares | 1,822,235 | 1,535,602 | ||
Weighted average number of common shares outstanding, diluted: | 43,554,000 | 43,747,944 | 43,468,846 | 43,747,944 |
Net income per common share attributable to common shareholders, basic: | $ 0.14 | $ 0.18 | $ 0.62 | $ 0.50 |
Net income per common share attributable to common shareholders, diluted: | $ 0.14 | $ 0.18 | $ 0.60 | $ 0.50 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Earnings Per Share [Abstract] | ||||
Antidilutive equity awards excluded from the computation of diluted earnings per share | 277,006 | 0 | 270,090 | 0 |
Equity-Based Compensation - Add
Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||
Equity based compensation expense | $ 0.3 | $ 0.2 | $ 0.5 | $ 0.5 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - $ / shares | Mar. 14, 2017 | Oct. 28, 2017 |
Equity [Abstract] | ||
Limited liability company, business, cessation date | Feb. 24, 2017 | |
Entity information, former legal or registered name | Jill Intermediate LLC | |
Entity information, date to change former legal or registered name | Feb. 24, 2017 | |
Common stock offered | 11,666,667 | |
Common stock offer price | $ 13 | |
Underwriters option to purchase additional common stock | 865,000 | |
Shares issued, Restricted Stock | 2,385,001 | |
Common stock issued | 43,747,944 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | Jan. 28, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |||||
Deferred lease liability | $ 8.9 | $ 8.9 | $ 6.5 | ||
Tenant improvement incentive liability | 15.4 | 15.4 | $ 9.9 | ||
Rent and common area maintenance expense | 15.2 | $ 13.6 | 44.6 | $ 41.1 | |
Contingent rental expense | $ 0.4 | $ 0.5 | $ 1.2 | $ 1.4 |