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Tilly's second quarter net sales jump 13.4 percent

Tilly's second quarter net sales jump 13.4 percent
Prachi Singh| Thursday, 30 August 2019

Tilly’s, Inc. for its second quarter ended August 4, 2019 reported total net sales of 157.4 million dollars, an increase of 18.6 million dollars or 13.4 percent. The company’s comparable store net sales, which include e-commerce net sales, increased 4.4 percent, while comparable store net sales in physical stores increased 3.8 percent. Total net sales for the first half were 281 million dollars, up 21.3 million dollars or 8.2 percent. Comparable store net sales, which include e-commerce net sales, increased 2.4 percent in total, while comparable store net sales in physical stores increased 2.7 percent.

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“Tillys delivered its strongest comparable store net sales result since the third quarter of fiscal 2019 , and we believe we have our e-com business back on track," commented Ed Thomas, President and Chief Executive Officer in a statement.

Review of Tilly’s Q2 and H1 performance

The company said, gross profit for the quarter was 50.1 million dollars, an increase of 22.4 percent from 40.9 million dollars last year. Gross margin, or gross profit as a percentage of net sales, increased to 31.8 percent from 29.5 percent last year, an improvement of 230 basis points.

Net income for the quarter was 9.7 million dollars or 0.33 dollar per diluted share compared to a net loss of 0.6 million dollars or 0.02 dollar per share, last year. On a non-GAAP basis, excluding the impacts of the legal matter from both years, net income was 8.6 million dollars or 0.29 dollar per diluted share, compared to 3.1 million dollars or 0.11 dollar per diluted share, last year.

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Gross profit for the first half was 85.1 million dollars an increase of 15.2 percent and gross margin increased to 30.3 percent from 28.4 percent last year, an increase of 190 basis points.

Net income for the first sic months was 10.9 million dollars or 0.37 dollar per diluted share, compared to a net loss of 0.8 million dollars or 0.03 dollar per share, last year. On a non-GAAP basis, excluding the impact of the legal matter from both years, net income was 9.8 million dollars or 0.33 dollar per diluted share, compared to 3 million dollars or 0.10 dollar per diluted share, last year.

Tilly’s announces third quarter outlook

As a result of the calendar shift impact of last year's 53rd week in the retail calendar, the company expects its third quarter total net sales to range from approximately 145 million dollars to 151 million dollars based on an assumed three to six percent increase in comparable store net sales. Tilly’s expects this calendar shift to result in a net decrease of approximately 13.9 million dollars in last year's comparable sales base and approximately 0.11 dollar of diluted earnings per share for third quarter comparability. This, the company said, is due to a portion of the back-to-school season shifting into the second quarter this year versus being in the third quarter last year.

The company expects third quarter operating income to range from approximately 8 million dollars to 9.5 million dollars and earnings per diluted share to range from 0.20 dollar to 0.24 dollar. This outlook assumes an anticipated effective tax rate of approximately 27 percent and weighted average shares of approximately 30 million.






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Tillys second quarter net sales jump 13.4 percent


Tillys second quarter net sales jump 13.4 percent



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