Feb 10, 2017

Retailer J. Jill files for IPO

Woman's apparel retail J. Jill on Friday filed for an initial public offering, less than two years after changing private equity owners.

Deal size: We have no real idea. J. Jill filed to raise $100 million, but that's likely a placeholder figure that will be increased as the process moves forward.

Why it matters: These are tough times for mall-based retailers, but J. Jill seems to be bucking the broader trend. Net sales climbed 72% for the 39 week period through Oct. 29, 2016, while profits climbed more than sixfold. On the more skeptical side, the IPO filing includes no information about 2016 holiday sales, and the 2015 buyout loaded the Quincy, Mass.-based company with a decent amount of debt.

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Coronavirus dashboard

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Global: Total confirmed cases as of 11 a.m. ET: 883,225 — Total deaths: 44,156 — Total recoveries: 185,377 — Map.
U.S.: Total confirmed cases as of 11 a.m. ET: 189,753 — Total deaths: 4,090 — Total recoveries: 7,141 — Map.
Axios-Ipsos Coronavirus Index: It's "a tale of two Americas" as the rich are more likely to work from home and the poor are more likely to report to work.
Federal government latest: President Trump said the next two weeks would be "very painful," with projections indicating the virus could kill 100,000–240,000 Americans.
State updates: Washington and California appear to have slowed their surges of new cases — Florida cases have been doubling the past four days, approaching 7,000.
NYPD: Reported 1,400 of its employees have tested positive for COVID-19.
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