Tilly's ( NYSE: TLYS ) updated guidance ahead of the retailer's appearance at the ICR Conference in Orlando, Florida on Monday.
For the nine-week period ended December 31, Tilly's ( TLYS ) expects to report sales fell by 12.9% to $150.9M and total sales were $178M to $180 vs. $185M consensus. Total comparable net sales, including both physical stores and e-commerce, decreased by 14.4% for the 2022 holiday period compared to an increase of 14.1% for the 2021 holiday period. Total comparable net sales increased by 0.2% relative to the comparable period of pre-pandemic fiscal 2019. Comparable net sales in physical stores decreased by 15.3% for the 2022 holiday period compared to an increase of 23.2% during the 2021 holiday period. Comparable net sales in physical stores decreased by double-digit percentages in each of TLYS' major geographic markets compared to the 2021 holiday period. E-commerce net sales decreased by 12.8% for the 2022 holiday period compared to a decrease of 5.7% during the 2021 holiday period. TLYS expects to report a loss per share to be in the range of -$0.01 to -$0.04.
“We believe this year’s inflationary environment negatively impacted our customers’ spending and our results during the 2022 holiday period, particularly when compared to 2021’s post-pandemic record-setting holiday period," noted CEO Ed Thomas. "Despite a tougher holiday season this year, we anticipate ending fiscal 2022 with a healthy, debt-free balance sheet and well-managed inventory," he added.
Shares of Tilly's fell 3.95% in premarket action on Monday.
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Tilly's falls after lowering guidance ahead of ICR appearance