Irvine-based action sports retailer Tilly’s Inc. posted better-than-expected financial results for the second quarter in a performance Chief Executive Daniel Griesemer called “ahead of the plan.”
Tilly’s on Aug. 22 reported a 49% increase from a year earlier in quarterly profit excluding one-time items, to $2.6 million.
Analysts on average expected a profit of $1.91 million.
Accounting for one-time charges, Tilly’s reported a $1.2 million loss in the latest quarter. That compared with quarterly net income of $3.5 million a year earlier
Quarterly revenue rose 20% to $105.1 million.
Analysts on average had expected $103.9 million in revenue.
Same-store sales rose 5.1% in the quarter.
Tilly’s went public May 4 and has been opening stores at a rapid clip
The company said it expects third-quarter profit of $7.9 million to $8.4 million. There was not guidance issued for total quarterly revenue, but Tilly’s said it expects same-store sales to increase between 4% and 5%.
Analysts expect a profit of $8.18 million and revenue of $128.17 million for the current quarter.
—Kari Hamanaka
