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Exhibit 99.1
FOR IMMEDIATE RELEASE Approved by: Olga L. Conley
Chief Financial Officer
(617) 376-4300
URL: http://www.jjillgroup.com
Contact: Investor Relations:
Stacey Bibi/Suzanne Rosenberg/
Priya Akhoury
Press: Michael McMullan
Morgen-Walke Associates, Inc.
(212) 850-5600
THE J. JILL GROUP ANNOUNCES SALE OF FORMER FULFILLMENT CENTER
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Quincy, MA, December 28, 2000 - The J. Jill Group, Inc. (Nasdaq: JILL) today
announced the sale of its former fulfillment center, a 91,000 square foot
facility, in Meredith, New Hampshire. Under the terms of agreement, VUTEk, Inc.,
a company specializing in wide and superwide format digital inkjet printing
technology, purchased the facility for approximately $2.2 million in cash on
December 15, 2000. Net cash proceeds to The J. Jill Group, after paying off the
existing mortgage, totaled $806,000.
The J. Jill Group ceased operations at the Meredith fulfillment center in
December 1998 when it opened a new 400,000 square foot, state-of-the-art
operations and fulfillment center in Tilton, New Hampshire.
Gordon R. Cooke, President and Chief Executive Officer of J. Jill commented, "In
December 1998 we began operating our fulfillment center in Tilton, New
Hampshire, which was constructed to support the long-term growth of the J. Jill
Group. Concurrently, we began marketing the Company's former facility in
Meredith, New Hampshire for sale. Today, we are pleased to announce the
successful execution of this transaction."
Richard Aschman, Chief Executive Officer of VUTEk, Inc. stated, "The acquisition
of this state-of-the-art facility will enable us to expand our R&D,
manufacturing and customer support operations in line with our growth
expectations."
The J. Jill Group is a leading retailer of high quality women's apparel,
accessories and footwear. The company currently markets its products through its
specialty retail stores, catalogs, and e-commerce website. J. JILL is designed
to appeal to active, affluent women age 35 and older.
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