Irvine retailer Tilly’s Inc.’s strong Thanksgiving weekend and Cyber Monday performance has it optimistic about the rest of the holiday selling season.
President and CEO Ed Thomas said the company’s “well positioned” for the rest of holiday, as Tilly’s delivered a better-than-expected outlook for the current quarter, sending shares up 13% in after-hours trading Wednesday.
The company, which has 239 stores, had a recent market value of $296 million.
Tilly’s said it expects revenue in the current quarter to be in the range of $179 million to $184 million, beating analyst expectations of $178.4 million. Earnings for the current quarter are projected to be in the range of $8.7 million to $9.6 million, above consensus estimates of $7.5 million.
The forecast also came with results of the quarter ended Nov. 2, during which the retailer had net sales of $154.8 million, up 5.4% from a year earlier, and net income of $6.4 million, up from $5.4 million in the year-ago period. Analysts expected earnings of $7 million on sales of $154.5 million.
