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To: Bill Harmond who wrote (77852)	9/20/1999 9:50:00 PM
From: Glenn D. Rudolph	Respond to of 164684

J.Jill<JILL.O> sees Q3 loss, charges, unit closing NEW YORK, Sept 20 (Reuters) - The J. Jill Group Inc. said Monday it expects to report a third quarter loss and would discontinue one of its businesses, resulting in charges that also would hurt its fourth quarter results. The specialty direct marketer of women's clothing said it expects sales for the third quarter to be about $46 million, producing a third quarter loss of about $0.11 per diluted share before the impact of one-time restructuring charges. Wall Street had expected the Massachusettes-based company to report profits of $0.08 a share in the third quarter and $0.38 a share in the fourth quarter. Year-ago results were not immediately available. Shares of J. Jill fell 4-7/8 to 6-1/2 in afternoon trade. J. Jill blamed unexpectedly weak sales from its repositioned Nicole catalog and the proliferation of e-commerce shopping alternatives on the Internet for its woes. It said it decided to discontinue its Nicole business and scrutinize and adjust its expense structure, moves that would result in one-time restructuring charges in the third and fourth quarters. "The fourth quarter of fiscal 1999 will be significantly impacted by all of the aforementioned factors," it said in a statement. Chief Executive Gordon Cooke said that, although the slowdown of the company's rapid growth happened sooner than expected, J. Jill has laid the foundation to diversify its business through the expansion of its retail and e-commerce operations. The company, which is planning to release its third quarter results around October 14, said its e-commerce web site, launched on Sept. 1, has generated average daily demand of $35,000, representing more than 5 percent of its total demand for the comparable period. In addition, it said it had opened an online storefront on Yahoo! Shopping <YHOO.O> . REUTERS Rtr 15:56 09-20-99