[8-K] TILLY'S, INC. Reports Material Event
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Tilly’s, Inc. reported a sharp improvement in results for the first quarter of fiscal 2026, with total net sales of $124.7 million, up 15.9% year over year, and comparable net sales rising 22.9%. Store sales grew 12.1% to $96.3 million, while e-commerce sales increased 30.9% to $28.4 million.
Gross profit rose to $36.1 million, or 28.9% of net sales, compared to 19.8% last year, driven by better product margins and lower occupancy costs. The operating loss narrowed to $8.1 million from $22.7 million, and net loss improved to $8.0 million, or $(0.26) per share, versus $(0.74) per share a year ago.
The company ended the quarter with total available liquidity of $91.8 million, including $41.1 million in cash, cash equivalents, and marketable securities, and expects second-quarter net sales of $154 million to $160 million and net income of $3.8 million to $6.0 million, or $0.13 to $0.20 per diluted share.
Positive
- None.
Negative
- None.
Insights
Q1 shows strong sales rebound and margin recovery with profitable Q2 outlook.
Tilly’s delivered a meaningful top-line and margin recovery. Net sales grew to $124.7 million, up 15.9%, with comparable net sales up 22.9%. E-commerce rose 30.9% and now represents 22.8% of sales, while the store base shrank to 220 locations.
Gross margin improved to 28.9% from 19.8%, helped by stronger full-price selling and lower occupancy costs from fewer stores. Operating loss narrowed to $8.1 million from $22.7 million, and net loss improved to $8.0 million, or $(0.26) per share.
Liquidity appears solid, with total available liquidity of $91.8 million and inventories down 6.4% versus last year’s first quarter. Management guides second-quarter net sales of $154 million to $160 million and net income of $3.8 million to $6.0 million, implying EPS of $0.13 to $0.20 versus $0.10 last year.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net sales Q1 2026: $124.7 million
Comparable net sales growth: 22.9%
Gross margin: 28.9% of net sales
+5 more
8 metrics
Net sales Q1 2026
$124.7 million
First quarter fiscal 2026 net sales, up 15.9% year over year
Comparable net sales growth
22.9%
First quarter fiscal 2026 comparable net sales increase
Gross margin
28.9% of net sales
First quarter fiscal 2026, versus 19.8% last year
Operating loss
$8.1 million
First quarter fiscal 2026, improved from $22.7 million loss
Net loss and EPS
$8.0 million; $(0.26)/share
First quarter fiscal 2026 net loss and diluted loss per share
Total available liquidity
$91.8 million
As of May 2, 2026, including cash and credit facility
Q2 2026 net sales guidance
$154–$160 million
Estimated net sales range for second quarter fiscal 2026
Q2 2026 EPS guidance
$0.13–$0.20
Projected diluted EPS for second quarter fiscal 2026
Key Terms
comparable net sales, gross profit, Selling, general and administrative ("SG&A") expenses, asset-backed credit facility, +1 more
5 terms
comparable net sales financial
"Total comparable net sales, including both physical stores and e-commerce ("e-com"), increased by 22.9%."
"Comparable net sales" shows how much a company's sales have grown or shrunk compared to the same period last year, excluding new stores or closures. It helps investors see if the core business is doing well, much like checking if a restaurant's sales are up because more people are dining there, not just because the restaurant opened new locations.
gross profit financial
"Gross profit, including buying, distribution, and occupancy costs, was $36.1 million, or 28.9% of net sales,"
Gross profit is the amount a business keeps from sales after subtracting the direct costs to make or buy the products or services sold — like the money left from a lemonade stand after paying for lemons, sugar and cups. Investors watch gross profit to judge how well a company’s core operations and pricing cover those direct costs, revealing its basic profitability and whether margins are improving or shrinking over time.
Selling, general and administrative ("SG&A") expenses financial
"Selling, general and administrative ("SG&A") expenses were $44.2 million, or 35.4% of net sales,"
asset-backed credit facility financial
"and $50.7 million of available, undrawn borrowing capacity under its asset-backed credit facility."
An asset-backed credit facility is a type of loan where a borrower borrows money using valuable assets, like inventory or property, as collateral. If they can't repay the loan, the lender can take those assets to recover their money. It matters because it helps companies get funding more easily by promising assets they already own.
deferred tax asset valuation allowance financial
"Both periods include the continuing impact of a full, non-cash deferred tax asset valuation allowance."
A deferred tax asset valuation allowance is a reserve a company sets aside to account for the possibility that some of its future tax savings might not actually happen. It’s like saving money in case a promised discount or refund doesn’t materialize, ensuring the company’s financial picture stays accurate and honest.
Earnings Snapshot
Net sales: $124.7 million · Guidance included
first quarter of fiscal 2026
Net sales
$124.7 million
+15.9% year over year
Comparable net sales
22.9% increase
Gross margin
28.9% of net sales
+910 basis points vs. 19.8% last year
Operating loss
$8.1 million
improved from $22.7 million loss
Net loss per share
$(0.26)
improved from $(0.74)
Guidance
For the second quarter of fiscal 2026, the company estimates net sales of approximately $154–$160 million, comparable net sales growth of 6–10%, SG&A expenses of about $48–$49 million, net income of approximately $3.8–$6.0 million, and diluted EPS of $0.13–$0.20.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________
FORM 8-K
_______________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 3, 2026
_______________________________________________
(Exact Name of Registrant as Specified in its Charter)
(State of Incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||||||||
(Address of Principal Executive Offices) (Zip Code)
(Registrant’s Telephone Number, Including Area Code)
______________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 | Results of Operations and Financial Condition | ||||
On June 3, 2026, Tilly's, Inc. (the "Company") issued an earnings press release for the first quarter ended May 2, 2026. The press release is furnished as Exhibit 99.1 and is incorporated herein by reference. The information furnished pursuant to this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 | Financials Statements and Exhibits | ||||
The following exhibits are being furnished herewith.
(d) Exhibits.
Exhibit No. | Exhibit Title or Description | ||||
| 99.1 | Press Release of Tilly's, Inc., dated June 3, 2026. | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TILLY’S, INC. | ||||||||
| Date: June 3, 2026 | By: | /s/ Michael L. Henry | ||||||
| Name: | Michael L. Henry | |||||||
| Title: | Executive Vice President, Chief Financial Officer | |||||||
Exhibit 99.1
Tilly's, Inc. Fiscal 2026 First Quarter Comp Sales Increase +22.9%
Reports Strong Start to Fiscal 2026 Second Quarter
Irvine, CA –June 3, 2026 – Tilly’s, Inc. (NYSE: TLYS, the "Company") today announced financial results for the first quarter of fiscal 2026 ended May 2, 2026.
"The turnaround momentum which began in fiscal 2025 continued through the first quarter of fiscal 2026, extending our streak of comparable net sales growth to three consecutive quarters and nine consecutive months, and delivering our fourth consecutive quarter of year-over-year profit improvement," commented Nate Smith, President and Chief Executive Officer. "Returning to profitability is our foremost goal for fiscal 2026. We believe the strength of our start to the fiscal year gives us a clear and credible path to get there, provided we can maintain a strong, positive sales trajectory throughout the year."
Operating Results Overview
Fiscal 2026 First Quarter Compared to Fiscal 2025 First Quarter
The following comparisons refer to the Company's operating results for the first quarter of fiscal 2026 ended May 2, 2026 versus the first quarter of fiscal 2025 ended May 3, 2025.
•Total net sales were $124.7 million, an increase of 15.9%. Total comparable net sales, including both physical stores and e-commerce ("e-com"), increased by 22.9%.
◦Net sales from physical stores were $96.3 million, an increase of 12.1%. The Company ended the first quarter with 220 total stores, a decrease of 18 stores or 7.6%, compared to 238 total stores at the end of the first quarter last year. Comparable net sales from physical stores increased by 20.8% relative to the comparable 13-week period ended May 3, 2025. Net sales from physical stores represented 77.2% of total net sales this year compared to 79.8% of total net sales last year.
◦Net sales from e-com were $28.4 million, an increase of 30.9%. E-com net sales represented 22.8% of total net sales this year compared to 20.2% of total net sales last year.
•Gross profit, including buying, distribution, and occupancy costs, was $36.1 million, or 28.9% of net sales, an improvement of $14.8 million or 910 basis points as a percentage of net sales compared to $21.3 million, or 19.8% of net sales, last year. Product margins improved by 400 basis points primarily due to improved full-price selling associated with operating with inventories that were more current in terms of aging compared to last year. Buying, distribution, and occupancy costs improved by 520 basis points, or $0.9 million, collectively, primarily due to decreased occupancy costs associated with reduced store count.
•Selling, general and administrative ("SG&A") expenses were $44.2 million, or 35.4% of net sales, compared to $44.0 million, or 40.9% of net sales, last year. The $0.2 million increase in SG&A was primarily attributable to increases in digital marketing expenses and store and corporate payroll and benefits expenses being largely offset by lower non-cash asset impairment charges of $1.0 million.
•Operating loss improved to $8.1 million, or 6.5% of net sales, compared to $22.7 million, or 21.1% of net sales, last year, due to the combined impact of the factors noted above.
•Income tax expense was $0.1 million, or (1.7)% of pre-tax loss, compared to an income tax benefit of $0.1 million, or 0.6% of pre-tax loss, last year. Both periods include the continuing impact of a full, non-cash deferred tax asset valuation allowance.
•Net loss improved to $8.0 million, or $(0.26) per share, representing an improvement of $14.2 million or $0.48 per share compared to a net loss of $22.2 million, or $(0.74) net loss per share, last year. Weighted average shares were 30.1 million in both periods.
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Balance Sheet and Liquidity
As of May 2, 2026, the Company had total available liquidity of $91.8 million, comprised of $41.1 million of cash, cash equivalents, and marketable securities and $50.7 million of available, undrawn borrowing capacity under its asset-backed credit facility. Total cash, cash equivalents, and marketable securities were $37.2 million at May 3, 2025. Total inventories decreased by 6.4% compared to the end of the first quarter last year. Total year-to-date capital expenditures at the end of the first quarter was $1.4 million this year compared to $1.5 million at the end of the first quarter of fiscal 2025.
Fiscal 2026 Second Quarter Outlook
Total comparable net sales for fiscal May ended May 30, 2026 increased by 8.3% relative to the comparable period of fiscal 2025, marking the Company's 10th consecutive month of comparable net sales growth. Based on current and historical trends, the Company currently estimates the following for the second quarter of fiscal 2026 ending August 1, 2026:
•Net sales in the range of approximately $154 million to $160 million, translating to an estimated comparable net sales increase of 6% to 10%, respectively, relative to last year's second quarter;
•Product margins to be flat to up slightly compared to last year's company-record rate for a fiscal second quarter;
•SG&A expenses to be approximately $48 million to $49 million, excluding any potential non-cash asset impairment charges that may arise;
•Net income of approximately $3.8 million to $6.0 million, respectively, with a near-zero effective income tax rate due to the continuing impact of a full, non-cash valuation allowance on deferred tax assets; and
•Net income per diluted share to be in the range of $0.13 to $0.20, respectively, compared to $0.10 for last year's second quarter, with estimated weighted average diluted shares of approximately 30.3 million.
•The Company currently expects to have 221 stores open at the end of the second quarter of fiscal 2026 compared to 232 at the end of last year's second quarter.
Conference Call Information
A conference call with analysts to discuss these financial results is scheduled for today, June 3, 2026, at 4:30 p.m. ET (1:30 p.m. PT). Analysts interested in participating in the call are invited to dial (877) 423-9813 (domestic) or (201) 689-8537 (international). The conference call will also be available to interested parties through a live webcast at www.tillys.com. Please visit the website and select the “Investor Relations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until June 10, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 13760460.
About Tillys
Tillys is a destination specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys and girls with an extensive selection of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and currently operates 220 total stores across 32 states, as well as its website, www.tillys.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding our current operating expectations in light of historical results, the improvement in our comparable net sales trend and our ability to maintain or improve upon it, the impacts of inflation, tariffs, and potential recession on us and our customers, including on our future financial condition or operating results, expectations regarding changes in the macro-economic environment, customer traffic, our supply chain, our ability to properly manage our inventory levels, and any other statements about our future cash position, financial flexibility,
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expectations, plans, intentions, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to the impact of inflation on consumer behavior and our business and operations, supply chain difficulties, and our ability to respond thereto, our ability to respond to changing customer preferences and trends, attract customer traffic at our stores and online, execute our growth and long-term strategies, expand into new markets, grow our e-commerce business, effectively manage our inventory and costs, effectively compete with other retailers, attract talented employees, or enhance awareness of our brand and brand image, general consumer spending patterns and levels, including changes in historical spending patterns, the markets generally, our ability to satisfy our financial obligations, including under our credit facility and our leases, and other factors that are detailed in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”), including those detailed in the section titled “Risk Factors” and in our other filings with the SEC, which are available on the SEC’s website at www.sec.gov and on our website at www.tillys.com under the heading “Investor Relations”. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. This release should be read in conjunction with our financial statements and notes thereto contained in our Form 10-K.
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Tilly’s, Inc.
Consolidated Balance Sheets
(In thousands, except par value)
(unaudited)
| May 2, 2026 | January 31, 2026 | May 3, 2025 | |||||||||||||||
| ASSETS | |||||||||||||||||
| Current assets: | |||||||||||||||||
| Cash and cash equivalents | $ | 31,244 | $ | 46,313 | $ | 27,231 | |||||||||||
| Marketable securities | 9,876 | — | 9,973 | ||||||||||||||
| Receivables | 6,086 | 6,093 | 4,914 | ||||||||||||||
| Merchandise inventories | 70,703 | 61,692 | 75,572 | ||||||||||||||
| Prepaid expenses and other current assets | 8,101 | 11,095 | 9,297 | ||||||||||||||
| Total current assets | 126,010 | 125,193 | 126,987 | ||||||||||||||
| Operating lease assets | 157,054 | 150,364 | 167,369 | ||||||||||||||
| Property and equipment, net | 32,519 | 33,504 | 37,876 | ||||||||||||||
| Other assets | 1,542 | 1,699 | 1,919 | ||||||||||||||
| TOTAL ASSETS | $ | 317,125 | $ | 310,760 | $ | 334,151 | |||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||
| Current liabilities: | |||||||||||||||||
| Accounts payable | $ | 28,434 | $ | 21,717 | $ | 31,778 | |||||||||||
| Accrued expenses | 14,720 | 12,102 | 12,317 | ||||||||||||||
| Deferred revenue | 12,985 | 13,290 | 13,305 | ||||||||||||||
| Accrued compensation and benefits | 7,202 | 7,903 | 7,537 | ||||||||||||||
| Current portion of operating lease liabilities | 45,314 | 41,308 | 47,931 | ||||||||||||||
| Current portion of operating lease liabilities, related party | 3,829 | 3,745 | 3,501 | ||||||||||||||
| Other liabilities | 50 | 50 | 141 | ||||||||||||||
| Total current liabilities | 112,534 | 100,115 | 116,510 | ||||||||||||||
| Long-term liabilities: | |||||||||||||||||
| Noncurrent portion of operating lease liabilities | 115,629 | 113,305 | 123,452 | ||||||||||||||
| Noncurrent portion of operating lease liabilities, related party | 11,108 | 12,099 | 14,937 | ||||||||||||||
| Other liabilities | 87 | 99 | 137 | ||||||||||||||
| Total long-term liabilities | 126,824 | 125,503 | 138,526 | ||||||||||||||
| Total liabilities | 239,358 | 225,618 | 255,036 | ||||||||||||||
| Stockholders’ equity: | |||||||||||||||||
| Common stock (Class A) | 23 | 23 | 23 | ||||||||||||||
| Common stock (Class B) | 7 | 7 | 7 | ||||||||||||||
| Preferred stock | — | — | — | ||||||||||||||
| Additional paid-in capital | 177,316 | 176,755 | 175,269 | ||||||||||||||
| Accumulated deficit | (99,596) | (91,643) | (96,343) | ||||||||||||||
| Accumulated other comprehensive income | 17 | — | 159 | ||||||||||||||
| Total stockholders’ equity | 77,767 | 85,142 | 79,115 | ||||||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 317,125 | $ | 310,760 | $ | 334,151 | |||||||||||
4
Tilly’s, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(unaudited)
| Thirteen Weeks Ended | |||||||||||
| May 2, 2026 | May 3, 2025 | ||||||||||
| Net sales | $ | 124,718 | $ | 107,611 | |||||||
| Cost of goods sold (includes buying, distribution, and occupancy costs) | 87,714 | 85,394 | |||||||||
| Rent expense, related party | 932 | 932 | |||||||||
| Total cost of goods sold (includes buying, distribution, and occupancy costs) | 88,646 | 86,326 | |||||||||
| Gross profit | 36,072 | 21,285 | |||||||||
| Selling, general and administrative expenses | 44,037 | 43,841 | |||||||||
| Rent expense, related party | 133 | 133 | |||||||||
| Total selling, general and administrative expenses | 44,170 | 43,974 | |||||||||
| Operating loss | (8,098) | (22,689) | |||||||||
| Other income, net | 282 | 398 | |||||||||
| Loss before income taxes | (7,816) | (22,291) | |||||||||
| Income tax expense (benefit) | 137 | (139) | |||||||||
| Net loss | $ | (7,953) | $ | (22,152) | |||||||
| Basic loss per share of Class A and Class B common stock | $ | (0.26) | $ | (0.74) | |||||||
| Diluted loss per share of Class A and Class B common stock | $ | (0.26) | $ | (0.74) | |||||||
| Weighted average basic shares outstanding | 30,119 | 30,060 | |||||||||
| Weighted average diluted shares outstanding | 30,119 | 30,060 | |||||||||
5
Tilly’s, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(unaudited)
| Thirteen Weeks Ended | |||||||||||
| May 2, 2026 | May 3, 2025 | ||||||||||
| Cash flows from operating activities | |||||||||||
| Net loss | $ | (7,953) | $ | (22,152) | |||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
| Depreciation and amortization | 2,259 | 2,828 | |||||||||
| Stock-based compensation expense | 503 | 440 | |||||||||
| Impairment of assets | — | 1,008 | |||||||||
| Loss on disposal of assets | 4 | 15 | |||||||||
| Gain on maturities of marketable securities | — | (180) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Receivables | 897 | (740) | |||||||||
| Merchandise inventories | (9,011) | (6,394) | |||||||||
| Prepaid expenses and other assets | 3,719 | 1,559 | |||||||||
| Accounts payable | 6,650 | 20,658 | |||||||||
| Accrued expenses | 2,121 | 176 | |||||||||
| Accrued compensation and benefits | (701) | (1,881) | |||||||||
| Operating lease liabilities | (2,050) | (2,602) | |||||||||
| Deferred revenue | (305) | (811) | |||||||||
| Other liabilities | (12) | (43) | |||||||||
| Net cash used in operating activities | (3,879) | (8,119) | |||||||||
| Cash flows from investing activities | |||||||||||
| Purchases of marketable securities | (9,859) | — | |||||||||
| Purchases of property and equipment | (1,389) | (1,522) | |||||||||
| Proceeds from maturities of marketable securities | — | 15,816 | |||||||||
| Net cash (used in) provided by investing activities | (11,248) | 14,294 | |||||||||
| Cash flows from financing activities | |||||||||||
| Proceeds from exercise of stock options | 58 | — | |||||||||
| Net cash provided by financing activities | 58 | — | |||||||||
| Change in cash and cash equivalents | (15,069) | 6,175 | |||||||||
| Cash and cash equivalents, beginning of period | 46,313 | 21,056 | |||||||||
| Cash and cash equivalents, end of period | $ | 31,244 | $ | 27,231 | |||||||
6
Tilly's, Inc.
Store Count and Square Footage
| Store Count at Beginning of Quarter | New Stores Opened During Quarter | Stores Permanently Closed During Quarter | Store Count at End of Quarter | Total Gross Square Footage End of Quarter (in thousands) | |||||||||||||||||||||||||
| 2025 Q1 | 240 | 1 | 3 | 238 | 1,707 | ||||||||||||||||||||||||
| 2025 Q2 | 238 | 1 | 7 | 232 | 1,657 | ||||||||||||||||||||||||
| 2025 Q3 | 232 | 2 | 4 | 230 | 1,642 | ||||||||||||||||||||||||
| 2025 Q4 | 230 | — | 7 | 223 | 1,593 | ||||||||||||||||||||||||
| 2026 Q1 | 223 | 1 | 4 | 220 | 1,568 | ||||||||||||||||||||||||
Investor Relations Contact:
Michael L. Henry
Executive Vice President, Chief Financial Officer
(949) 609-5599, ext. 17000
irelations@tillys.com
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FAQ
How did Tilly’s (TLYS) perform in fiscal 2026 first quarter?
Tilly’s reported net sales of $124.7 million, up 15.9% year over year, with comparable net sales up 22.9%. Operating loss improved to $8.1 million and net loss to $8.0 million, or $(0.26) per share, reflecting better margins and expense control.
What were Tilly’s Q1 2026 margins and profitability metrics?
Gross profit reached $36.1 million, or 28.9% of net sales, versus 19.8% last year. Operating loss narrowed to $8.1 million, and net loss improved to $8.0 million, or $(0.26) per share, compared with $(0.74) per share in the prior-year quarter.
How are Tilly’s stores and e-commerce businesses performing?
Store net sales were $96.3 million, up 12.1%, with comparable store sales up 20.8%, and 220 stores at quarter-end. E-commerce net sales were $28.4 million, up 30.9%, representing 22.8% of total net sales compared to 20.2% a year earlier.
What is Tilly’s liquidity position as of May 2, 2026?
Tilly’s reported total available liquidity of $91.8 million, including $41.1 million in cash, cash equivalents, and marketable securities and $50.7 million of undrawn capacity under its asset-backed credit facility. Inventories declined 6.4% compared with the end of the first quarter last year.
What guidance did Tilly’s give for its fiscal 2026 second quarter?
For Q2 fiscal 2026, Tilly’s expects net sales of $154–$160 million and comparable net sales growth of 6–10%. It projects net income of about $3.8–$6.0 million and diluted EPS of $0.13–$0.20, compared with $0.10 last year.
How is Tilly’s store base changing through fiscal 2026?
Tilly’s ended Q1 fiscal 2026 with 220 stores, down from 238 a year earlier, and total gross square footage of about 1,568 thousand. It currently expects to have 221 stores open at the end of the second quarter, versus 232 stores last year.