Retail clothing company Tilly's, Inc TLYS shares are sliding after a 7.4% decline in sales to $139.7 million for the 2023 nine-week holiday period ended December 30, 2023.
Total comparable net sales, including both physical stores and e-commerce, decreased by 9.0% for the period.
Comparable net sales of Footwear 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 last year.
Comparable net sales in physical stores decreased by 12.3%, with net sales in physical stores constituting 71.9% of total net sales.
E-commerce net sales increased by 1.6% during the period and represented 28.1% of total net sales.
As of January 2, 2024, the company had approximately $129 million of cash and marketable securities and no debt outstanding.
Tilly’s now expects Q4 FY23 EPS loss of $(0.20) - $(0.24) from the previous $(0.12) - $(0.20) versus an estimate of $(0.16).
It now sees FY23 Q4 sales of $169 million - $172 million compared to a previous outlook of $172 million - $178 million versus an estimate of $174.11 million.
The company expects to end FY23 with 248 total stores and total cash and marketable securities of approximately $90 million.
Price Action: TLYS shares are trading lower by 2.05% at $7.17 on the last check Monday.
Photo via Company
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