Dive Brief:
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Former Ralph Lauren executive Mary Ellen Coyne will be J. Jill CEO and president effective May 1, the women’s apparel retailer said Thursday. She will also join the board.
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Over her three-decade-plus career, Coyne had various executive roles at Ralph Lauren, including as chief merchandising officer of women’s and children’s. She has been CEO of J. McLaughlin for nearly nine years.
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She replaces Claire Spofford, who will step down on April 30 after four years at the helm. The company announced her retirement plans in December.
Dive Insight:
Under Spofford’s leadership, J. Jill went from teetering toward bankruptcy to expanding its store fleet, if only slightly, even as consumers remained cautious about spending. Coyne is poised to “be able to pick up the groundwork that has been laid,” including the inventory discipline that has helped boost full-price selling, according to William Blair analysts Dylan Carden and Anna Linscott.
“We are particularly encouraged that under Coyne’s leadership, J. McLaughlin achieved several years of high-single-digit growth and consistently maintained 70% margins with over 80% of sales made at full price,” they said in a Friday research note.
Board Chairman Michael Rahamim in a statement called out Coyne’s experience building businesses and enhancing the customer experience. “Mary Ellen’s extensive experience in the retail industry, combined with her proven track record of driving growth and strategic transformation, makes her the ideal leader to take J. Jill into its next phase,” he said.
During Coyne’s tenure as CEO, J. McLaughlin expanded its store fleet and entered new product categories, and revenue and profits grew, per J. Jill’s release.
J. Jill in 2023 said it was mulling plans to expand its brick-and-mortar footprint, but that it would be cautious. At the end of the third quarter last year, the retailer was running 247 stores, up from 244, after opening locations in Atlanta; Virginia Beach, Virginia; and Colorado Springs, Colorado.
Jefferies analysts led by Corey Tarlowe anticipate more stores opening under Coyne, who they said is “well-positioned to help JILL drive profitable and healthy [long-term] growth.”
In fact, J. Jill’s biggest problem right now is the macro environment, which is true for any retailer selling discretionary goods, William Blair analysts said. Consumer sentiment plummeted in February as inflation fears “worsened considerably,” driven by Trump administration tariff policy.