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Tilly's Inc. (symbol: TLYS) is a prominent specialty retailer in the action sports industry, offering a diverse range of clothing, shoes, and accessories. Founded in Southern California in 1982, Tilly's has expanded to 220 stores across 33 states. The company boasts one of the largest assortments of brands and merchandise from top names in surf, skate, motocross, and lifestyle apparel industries, available both in-store and online at tillys.com.
Tilly's Inc. is dedicated to providing casual apparel, footwear, and accessories for young men, young women, boys, and girls. The company offers an unparalleled selection of relevant brands, styles, colors, sizes, and price points. Its offerings include branded fashion and core styles for tops, outerwear, bottoms, and dresses, as well as backpacks, hats, sunglasses, headphones, handbags, watches, and jewelry. Tilly's markets products from renowned brands such as Vans, RVCA, Adidas, Nike SB, and Hurley.
Tilly's operates its stores in various locations including malls, lifestyle centers, power centers, community centers, outlet centers, and street-front locations. The company also has a strong e-commerce presence, providing a seamless shopping experience for its customers. The distinct look and feel of Tilly’s stores create a unique, creative, and fun shopping environment.
In recent achievements, Tilly's has continued to adapt to the latest trends, ensuring an ever-evolving and relevant assortment of merchandise. The company's ability to access the most popular brands allows it to maintain an edge in the competitive retail market. Financially, Tilly's remains in a stable condition, focusing on strategic growth and customer engagement. Tilly's partnerships with key brands and consistent product updates ensure it remains a go-to retailer for action sports enthusiasts and fashion-forward individuals.
Tilly's announced its fiscal 2024 third-quarter results, highlighting a 13.8% decline in total net sales to $143.4 million, affected by a calendar shift. Comparable net sales dropped by 3.4%. Physical store sales decreased by 16%, while e-commerce sales fell by 5.4%. Gross profit was $37.2 million, or 25.9% of net sales, down from 29.3% last year. SG&A expenses were $51.3 million, or 35.7% of net sales, up from 30.8%. The company reported an operating loss of $14.1 million and a net loss of $12.9 million, or $0.43 per share.
Year-to-date, total net sales decreased by 6.2% to $422.2 million. Comparable net sales dropped by 6.8%. The company reported a net loss of $32.6 million, or $1.08 per share. Tilly's ended the quarter with $51.7 million in cash and no debt.
For Q4, the company expects net sales between $149 million and $156 million, a comparable net sales decrease of 9% to 5%, and a net loss between $13.0 million and $9.5 million, or $0.43 to $0.32 per share.
Tilly's (NYSE: TLYS) has scheduled its fiscal 2024 third quarter financial results announcement for December 5, 2024, after market close. Co-Founder and CEO Hezy Shaked and CFO Michael Henry will host a conference call at 4:30 p.m. ET to discuss the results. Investors can join via phone at (877) 300-8521 (domestic) or (412) 317-6026 (international), or through a webcast at www.tillys.com. A replay will be available until December 12, 2024, using conference ID: 10193481.
Tillys, Inc. (NYSE: TLYS) has announced the appointment of Hezy Shaked as its permanent President and Chief Executive Officer, effective September 11, 2024. Shaked, the company's co-founder and Executive Chairman of the Board, had been serving as Interim President and CEO since January 21, 2024. With 42 years of history behind the company, Shaked expressed his deep commitment to improving the business.
During his interim tenure, Shaked has been reviewing all aspects of the business, leveraging his perspective as co-founder and his extensive retail industry experience to work towards enhancing Tillys' operating performance. This appointment removes the interim tag from his position, solidifying his leadership role in the company.
Tilly's, Inc. (NYSE: TLYS) reported financial results for Q2 fiscal 2024. Total net sales increased 1.8% to $162.9 million, while comparable net sales decreased 7.8%. Gross profit improved to 30.7% of net sales, up from 27.7% last year. The company reported a net loss of $0.1 million, or $0.00 per share, compared to a net loss of $1.1 million, or $0.04 per share, last year.
For Q3 fiscal 2024, Tilly's expects net sales between $140-$146 million, with a comparable net sales decrease of 6% to 2%. The company anticipates a pre-tax loss of $11.6-$8.7 million and a net loss per share of $0.39-$0.29.
Tilly's, Inc. (NYSE: TLYS) has announced that it will release its financial results for the second quarter of fiscal 2024, which ended on August 3, 2024, after the market close on Thursday, September 5, 2024. The company will host a conference call at 4:30 p.m. ET (1:30 p.m. PT) on the same day to discuss the results. Hezy Shaked, Interim President and CEO, and Michael Henry, Executive VP and CFO, will lead the call.
Investors and analysts can participate by dialing (877) 300-8521 (domestic) or (412) 317-6026 (international). A live webcast will also be available on the company's website. A telephone replay will be accessible until September 12, 2024, using the conference identification number: 10191499.
Tilly's reported its first quarter fiscal 2024 results, ending May 4, 2024.
Key financials include a GAAP net loss per share of $0.65 and a non-GAAP net loss per share of $0.48, aligning with the midpoint of the company's outlook range.
Total net sales decreased by 6.3% to $115.9 million, with comparable net sales dropping by 9.4%. Physical store sales fell by 5.1% to $92.8 million, while e-commerce sales declined by 10.8% to $23.0 million.
Gross profit remained steady at 21.0% of net sales, but operating losses increased to $20.8 million from $17.3 million in the previous year.
The report highlighted a $1.5 million increase in non-cash store asset impairment charges and a $1.0 million rise in store payroll and benefits costs. The company's cash and securities were down to $68.0 million from $93.4 million last year.
Looking ahead, Tilly's forecasts second quarter net sales between $160 million and $165 million, with an estimated net loss per share of $0.13 to $0.03.
Tilly’s, Inc. (NYSE: TLYS) will release its financial results for the first quarter of fiscal 2024 on June 6, 2024. The conference call, hosted by Interim President and CEO Hezy Shaked and CFO Michael Henry, will take place at 4:30 p.m. ET. Investors can join via phone or webcast.
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