TLYS - Tilly's issues Q4 and FY23 soft guidance on weak consumer activity

2024-01-08 06:49:18 ET

• Ahead of the the ICR Conference 2024, Tilly ( NYSE: TLYS ) announced holiday period net sales of $139.7M, down 7.4% from last year’s comparable nine-week holiday period ended December 31, 2022.
• Total comparable net sales, including both physical stores and e-commerce, decreased by (9.0)% during the 2023 holiday period compared to the 2022 holiday period.
• Footwear comparable net sales increased by a single-digit percentage, Girls and Mens apparel decreased by single-digit percentages, while Boys, Womens and Accessories decreased by double-digit percentages compared to the 2022 holiday period.
• As of January 2, 2024, the Company had approximately $129M of cash and marketable securities and no debt outstanding.
• Based on holiday period results, the Company now expects Q4 net sales in the range of ~$169M to $172M vs $174.11M consensus and its EPS of $(0.20) to $(0.24) vs. $(0.16) consensus.
• The Company expects to end 2023 with 248 total stores, total cash and marketable securities of approximately $90 million reflecting the normal seasonal fluctuation of such balances, and no debt outstanding.
• “Condensed peaks of increased consumer activity over Black Friday weekend, just before Christmas and in the week following Christmas were more than offset by significant decreases in consumer activity outside of those event-driven peaks, producing a slightly softer holiday season for us overall than we originally anticipated,” commented Ed Thomas, President and Chief Executive Officer.
• The Company currently expects to report its Q4 and FY23 on or about March 14, 2024.
• The Company will be participating in the ICR Conference 2024 in Orlando, Florida on January 8-9, 2024. The Company will be conducting a fireside chat presentation at 10:30 a.m. Eastern time on Tuesday, January 9, 2024.
• Shares -2.7% premarket
• Source: Press Release

For further details see: