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Friday, Sep 30, 2022
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Tilly’s Falls After Q2 Forecast Misses Estimates

Shares for Tilly’s Inc. (NYSE: TYLS) dropped 5.7% during late trading after the Irvine-based retail forecasted fiscal second-quarter revenue and profit that missed analysts’ consensus.

The company said revenue in the current quarter will be $170 million to $175 million and a profit of 14 cents to 20 cents a share. Analysts had predicted on average sales of $183.6 million and profit of 34 cents.

“We continue to focus on growing and improving our business over time, despite the near-term challenges of the highly inflationary environment and lapping last year’s record-breaking results, which were fueled by unprecedented pandemic-related factors,” Chief Executive Ed Thomas said in the statement.

It also reported fiscal first-quarter sales dropped 11% to $146 million and a profit of 3 cents; both in line with analysts’ estimates.

After the results were posted, the shares declined to $7.95. Shares for the company fell to have been off about 51% since their high last November.

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