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Tilly’s Stock Drops 22% After Q1 Outlook

Shares of Tilly’s Inc. (NYSE: TLYS) dropped 22% to $9.50 during after hours trading after the retail warned of falling sales.

The company forecast first-quarter profit of break-even to 5 cents a share, below the average analyst consensus of 21 cents. The Irvine-based retailer also forecast sales of $143 million to $148 million, below the analyst consensus of $166 million.

The company also reported a fourth-quarter profit of 38 cents, which also missed the Zacks consensus estimate of 41 cents. The retailer reported net sales at $204 million, up 15% compared to last year. 

“Our comparisons to last year will get much tougher as we begin to anniversary last year’s pent-up demand and federal stimulus payments,” Chief Executive Ed Thomas said in a statement. 

Shares are off about 25% since the beginning of 2022 to a $379 million market cap.

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