Orange County Business Journal

Tilly’s Beats on Q2 Profit, Revenue

Kari Hamanaka Thursday, August 23, 2012

Irvine-based action sports retailer Tilly’s Inc. reported better-than expected results for the July quarter, a performance Chief Executive Daniel Griesemer called “ahead of the plan.”

Shares of Tilly’s, which operates a chain of 155 stores, were up nearly 8% in midday trading Thursday to $18, for a market value of about $491 million.

Tilly’s saw its profit for the July quarter, excluding a one-time charge, rise 49% from a year earlier to $2.6 million.

Analysts on average expected a profit of $1.91 million.

The company saw July quarter revenue up 20% from the year-ago period to $105.1 million.

Analysts expected sales of $103.86 million.

Same-store sales rose 5.1% during the July quarter.

Tilly’s went public May 4, and has been opening stores at a rapid clip

The company said adjusted earnings for its October quarter are expected to come in between $7.9 million to $8.4 million. Tilly’s did not provide revenue guidance.

The company said it expects same-store sales in the October quarter to increase between 4% and 5%.

Analysts expect a profit of $8.18 million and revenue of $128.17 million for the quarter.