Tilly’s Inc. (NYSE: TLYS) President and CEO Ed Thomas said the company is optimistic about the final quarter of the year for the Irvine retailer, following record quarterly performance so far this year.
Results reported Thursday for the third quarter ended Oct. 30, marking record quarterly net sales and earnings.
Shares surged 11% in after-hours trading on the earnings report to $16.01. The company had a recent market cap of $446.7 million.
Tilly’s net sales climbed 46.9% from the year-ago period to $206.1 million in the October quarter. Sales grew in both the physical and digital channels. Analysts on average expected sales of $190 million.
The company reported net income of $20.8 million for the quarter, compared to $2.1 million a year earlier and beating consensus estimates of $10.4 million.
“The fourth quarter is off to a strong start and, despite all of the challenges in the current environment, we remain optimistic about our business prospects for the remainder of fiscal 2021 and into fiscal 2022 at this time,” Thomas said in a statement.