Shares in retailers J Jill, Gap tumbleBusiness | 13 Oct 2017 10:45 am
J. Jill stock nosedived on Thursday after the retailer of women’s clothes, shoes and accessories slashed its outlook for the third quarter.
The company said retail and direct-to-consumer sales both fell short of its expectations and cut its earnings forecast in half. J. Jill stock opened at US$13 a share after its March IPO and on Thursday it fell US$5.07, or 51.1 percent, to US$4.86.
Retailer Express sank 53 US cents, or 8.3 percent, to US$5.88 and Chico’s FAS lost 57 US cents, or 7.2 percent, to US$7.40. Gap lost US$1.21, or 4.3 percent, to US$27.21.-AP