Tilly’s Inc (NYSE: TLYS)
Shares of Tilly’s Inc rallied 14% in the after-hours session on Wednesday after the company announced its fiscal first quarter earnings.
The Irvine, California-based clothing and accessories retailer easily topped the estimates of Wall Street analysts after reporting one of its best quarterly results. TLYS stock had closed Wednesday’s regular trading session at $12.21 up $0.33, or 2.8%.
TYLS Earnings & Outlook
The company reported net income of $1.2 million, or 4 cents a share during the period, which came to a close on May 5. In the same period last year, Tilly’s reported a net loss of $200,000, or 1 a share.
Analysts expected the company to report sales of $121.9 million and earnings of 1 cent a share during the quarter. Total net sales stood at $123.6 million, up 2.3%, from the $120.9 million figure reported in the year-ago period.
The company said comparable-store sales (e-commerce sales included) grew 0.1% during the quarter. Gross profit increased by 6.3% to $35.0 million, from $32.9 million in the first quarter of fiscal 2017.
For the second quarter which ends in August, the specialty retailer expects total net sales in the range of between $153 million and $157 million, and earnings per diluted share of between $0.24 and $0.28.
Tilly’s CEO Comments
“Tilly’s continues to drive increased store traffic, positive store comps, and improved profitability. Although corrective efforts continue, we believe we have addressed the most significant technical issues related to our e-com business and results are beginning to improve. E-com sales remain inconsistent, but we are off to a good start to the second quarter with positive comps both in stores and online thus far,” said Ed Thomas, Tilly’s President and Chief Executive Officer. CBNC
Tilly’s Inc. Company Profile
Tilly’s, Inc. is a specialty retailer of accessories, casual apparel, and footwear for young women and men, and girls and boys in the U.S.
The company’s accessories merchandise jewelry, sunglasses, backpacks, watches, hats, headphones, handbags; and apparel merchandise comprises outwear, tops, dresses, and bottoms; and others. Its branded merchandise comprises RSQ, Full Tilt, and Blue Crown.
It also offers an assortment of third-party merchandise, such as Nixon, YC, Stance, Adidas, Hurley, Billabong, LRG, Converse, and JanSport, among others across its product categories.
The company owned and operated a total of 219 stores across 32 states as of February 2018. Its stores are located in power centers, community centers, outlet centers, malls, street-front locations, and lifestyle centers.
Products of the company are also available through its tillys.com e-commerce website, which can be accessed via desktop and mobile devices.
Some of its competitors include Pacific Sunwear of California, Inc., The Buckle, Inc., Urban Outfitters, Inc., Abercrombie & Fitch Co., Zumiez, Inc., Aeropostale, Inc., Forever 21, Inc., American Eagle Outfitters, Inc., and Hot Topic, Inc.
The company was founded in 1982 and its head offices are based in Irvine, California. –Rueters