Irvine retailer Tilly’s Inc. (NYSE: TLYS) delivered better-than-expected results for its fiscal second-quarter, although sluggish back-to-school trends could be a drag on its current quarter results.
Tilly’s reported net sales down 16% to $135.8 million for its quarter ended Aug. 1. Analysts on average expected net sales of $130.7 million.
The retailer reported net income of $5.3 million, compared to the $5 million loss analysts expected.
Tilly’s, which counts 227 of its 238 stores currently open, did not provide guidance for the current quarter but did reveal August sales, ended Aug. 29, were down 35.6% from the year-ago period to $50.2 million. The month has historically accounted for about half the company’s third-quarter sales due to the ramp for back-to-school merchandise.
Delays caused by the pandemic in getting schools reopened have so far impacted the company’s results in the current quarter.
Tilly’s shares were trading down 6.1% to $6.92 in after-hours trading. The company had a recent market cap of $206 million.
