Shares of Irvine men’s and women’s retailer Tilly’s Inc. (NYSE: TLYS) rose Friday after it ended its fiscal year 2020 with sales growth and no debt.
Tilly’s shares were up 6.8% to $12.80 for a market cap of $380 million.
The company said for its fiscal fourth quarter ended Jan. 30, net sales totaled $177.9 million, up 3.2% from a year earlier and beating analyst expectations of $115.7 million.
Tilly’s reported net income of $8.9 million, up $6.3 million from the prior year. Analyst expected a loss of nearly $4 million.
The company, citing the ongoing impact of COVID, declined to provide sales or earnings guidance for the quarter ended March 8.
It did reveal online sales spiked 40.6% from a year earlier to $10.7 million in the March quarter. Same-store sales, which counts both online and off, were down 4.6% to $45.3 million in the March quarter.
