• Home
  • Executive
  • Report
  • Tilly’s Q1 comparable sales rise 0.6 percent

Tilly’s Q1 comparable sales rise 0.6 percent

By Prachi Singh

loading...

Scroll down to read more

Report

For the first quarter ended April 29, 2017, Tilly’s reported total net sales of 120.9 million dollars, an increase of 0.6 percent from 120.2 million dollars last year. Comparable store sales, which include e-commerce sales, LAO increased 0.6 percent. Comparable store sales were down 4.1 percent in the first quarter last year.

“We believe our initiatives are gaining traction. After a tough February, our combined March/April comparable store sales were up 5.3 percent, resulting in a positive comparable store sales result for the first quarter as a whole and our fourth consecutive quarter of year-over-year operating income improvement,” said Ed Thomas, the company’s President and CEO in press release.

Gross margin improves 27.2 percent

Gross margin, or gross profit as a percentage of net sales, increased to 27.2 percent from 27.1 percent last year. The company said, 10 basis point increase in gross margin was attributable to a 80 basis point reduction in buying, distribution and occupancy costs, offset by a 70 basis point decline in product margins from increased markdowns.

Net loss was 0.2 million dollars or 0.01 dollar per share, compared to 2.7 million dollars or 0.10 dollar per share, last year.

In February 2017, the company paid a first-ever special cash dividend to its stockholders of approximately 20.1 million dollars in the aggregate. This compares to 88.4 million dollars of cash and marketable securities and no debt outstanding as of April 30, 2016.

Q2 comparable sales expected to remain flat or grow low-single digits

Based on current trends, the company expects its second quarter comparable store sales to be in the range of flat to up low single-digits, operating income to be in the range of 1.2 million dollars to 3.5 million dollars and income per diluted share to be in the range of 0.03 dollar to 0.07 dollar. This compares to income per diluted share of 0.05 dollar for the second quarter of fiscal 2016.

Picture:Tilly's website

Tilly's