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Saturday, Nov 26, 2022

Tilly’s Outlines Store Plans

Irvine apparel retailer Tilly’s Inc. (NYSE: TLYS) said it plans to open some of its stores next week, but greater uncertainty remains on the timetable for most of its California locations.

Tilly’s runs 239 stores in 33 states, selling apparel from in-house labels, including the newer West of Melrose brand, in addition to lines such as Adidas, Amuse Society, Huf, Obey and Free People.

It said the 26 stores set to open May 15 include sites in Arizona, Florida, Texas and Utah. More stores will join them as state and local governments offer guidelines for reopening.

The retailer said it has plans in place to provide training to employees on various safety protocols, will do temperature checks of store employees, ensure social distancing, will install plexiglass barriers at cash wraps and will close off fitting rooms among other measures as its doors begin to open.

A question mark for the retailer is when it’s broader fleet of stores will reopen. About 40% of its stores are in California. Those accounted for about half of the company’s brick-and-mortar sales last year.

With stores closed for most of the first quarter Tilly’s said total net sales for the period were off 41% to $77.3 million. Brick-and-mortar was open 45 of the 91 days in the quarter and closed during key selling periods such as Easter and spring break vacations.

Digital sales helped, with $30.4 million generated during the first quarter, up 54% from the year-ago period. The ramp online occurred following the rollout of stay-at-home orders across states.

Tilly’s has roughly 90% of its workforce furloughed. The earlier announced salary cuts for management continue, with no timetable on when pay will be restored to regular levels.

The retailer closed up nearly 8% on Friday to a recent market cap of $152.5 million.

Go here for more updates on OC companies’ responses to the coronavirus.

For ongoing, in-depth coverage of the coronavirus’ effects on OC businesses, see the Monday print edition of the Business Journal.

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