Shares for Irvine clothing retailer Tilly’s Inc. (NYSE: TLYS) jumped as much as 12% in after-hours trading to $9.84 apiece, following third-quarter results that beat the analysts’ consensus estimate.
Tilly’s reported fiscal third-quarter sales fell 14% to $178 million, which topped the average analyst estimate of $166 million.
“Our third quarter performance was better than we expected and we entered the fourth quarter with reduced inventory per square foot compared to last year,” Tilly’s CEO Ed Thomas said in a statement. “Although our November comparable net sales results were weaker than we expected, we saw an improved relative trend during the Black Friday weekend compared to earlier in the month.”
The company said it expects fourth quarter to be its largest quarter this year, anticipating net sales to range between $183 million to $188 million. Analysts had estimated fourth-quarter sales would be $182.7 million.
During regular trading before the results were announced, shares dropped 6.6% to $8.87 and a $267 million market cap.
