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Wednesday, Jun 29, 2022

Tilly’s Notches Record Gains in Q2

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Irvine retailer Tilly’s Inc. (NYSE: TLYS) notched record quarterly results above anything the company’s reported since going public in 2012.

Tilly’s currently counts 244 stores in 33 states selling apparel and accessories for men, women and kids.

President and CEO Ed Thomas, on a call with analysts Thursday, attributed the gains to pent-up customer demand, stimulus checks and stores’ merchandise assortments.

The New England and Texas markets, which the company recently expanded into, saw the strongest results with same-store sales increases of more than 20% from a year ago.

Total net sales for the fiscal second quarter ended July 31 were $202 million, up 48.7% from a year ago. Analysts on averaged expected $188 million.

Net income totaled $20.4 million, up from $5.3 million in the year-ago period and beating analyst estimates of $13.9 million.

Tilly’s shares were down 6.3% to $14.75 in midday trading Friday, amid a broader decline among retailers.

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