- Prachi Singh |
Tilly’s, Inc. has said in a statement that total net sales of 143.9 million dollars increased by 1.1 percent for the holiday period, while comparable store net sales, including e-commerce, decreased by 2 percent compared to an increase of 5.8 percent for last year’s holiday period. Comparable store net sales in physical stores decreased by 2.7 percent compared to a decrease of 0.7 percent during last year’s holiday period.
“Following a strong Black Friday weekend and Cyber Monday, our business experienced an unexpected deceleration in net sales and store traffic during the second and third weeks of December, resulting in a disappointing 2019 holiday season overall,” commented Ed Thomas, the company’s President and Chief Executive Officer.
E-commerce net sales increased by 1 percent for the holiday period compared to an increase of 42.8 percent during last year’s holiday period and represented approximately 19.5 percent of total net sales for the holiday period, consistent with last year’s holiday period. The company added that its comparable store net sales results for the 2019 holiday period decreased in most of the company’s major geographic markets, with the exception of New England, the Upper Midwest, and Arizona. Comparable store net sales were weakest in the Southeast, Florida and Nevada. In terms of merchandising, comparable store net sales of girls and women’s were positive but this was more than offset by declines in all other merchandising departments, particularly footwear and accessories.
Based on its operating results during the holiday period and historical trends, the company now expects its fiscal 2019 fourth quarter comparable store net sales to decrease by 2 percent to 3 percent and earnings per diluted share to be approximately 18 cents to 20 cents.