Here's Why J. Jill Decided to Go Public Despite Retail Industry Challenges

J.Jill JILL CEO Paula Bennet discusses with TheStreet at The New York Stock Exchange what it's like going public in a struggling retail environment.
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J.Jill (JILL) - Get Report CEO Paula Bennet discussed with TheStreet at The New York Stock Exchange what it's like going public in a struggling retail environment. J.Jill, the retailer of business casual women's apparel geared to those between the ages of 40 and 65, launched its IPO of 11.67 million shares priced at $13 Thursday morning. Although J.Jill is primarily mall based in a time when foot traffic is dwindling, Bennet said not only is the company driving its in-store, "tech-savvy" customers online, with 38% of its sales coming from e-commerce, the women who shop at J.Jill also "love (their) in-store experience," especially since the exclusive brand is not offered in department stores. And the retailer plans to open 10 to 15 stores this year. Still, shares of J.Jill are down nearly 2% to $12.76 in late morning trading.

This article was written by a staff member of TheStreet.