---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-031237"
form_type: "8-K"
ticker: "TLYS"
cik: "0001524025"
company_name: "TILLY'S, INC."
filed_at: "2022-12-01T23:59:59+00:00"
generated_at: "2026-06-21T10:50:45.802615+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Tilly's Q3 net sales down 14.9% comp, EPS $0.17 vs $0.66 YoY; Q4 EPS guidance $0.02-0.06

## Summary
- Q3 net sales $177.8M (-13.7% YoY); comparable net sales -14.9%. Net income $5.1M ($0.17 EPS) vs $20.8M ($0.66).
- Gross margin 30.7% down from 37.2%, driven by 300 bps product margin decline from higher markdowns and occupancy deleverage.
- Q4 FY2022 outlook: net sales $183-188M, EPS $0.02-0.06, vs last year's $204.5M and $0.38. November comps -18.5% through Nov 29.
- Inventory per sq ft down 6.9% YoY; cash & marketable securities $105.8M, no debt. Year-to-date $10.9M share repurchases.
- FY2023 capex expected ≤$25M, including up to 15 new stores and system upgrades.

## SEC filing metadata
- accession: 0001628280-22-031237
- form_type: 8-K
- ticker: TLYS
- cik: 0001524025
- company_name: TILLY'S, INC.
- filed_at: 2022-12-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1524025/000162828022031237/0001628280-22-031237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1524025/000162828022031237/tlys-20221201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-031237
- JSON: https://secwatch.observer/filing/0001628280-22-031237.json
- Plain text: https://secwatch.observer/filing/0001628280-22-031237.txt

## Key facts
- Earnings Releases
  TILLY'S, INC. reported the third quarter of fiscal 2022 ended October 29, 2022 results: revenue $177.8 million, net income $5.1 million, EPS $0.17 per diluted share.
  - Period: the third quarter of fiscal 2022 ended October 29, 2022
  - Revenue: $177.8 million
  - Net income: $5.1 million
  - EPS: $0.17 per diluted share
  - Result: reported results
  source text: • Total net sales were $177.8 million, a decrease of $28.2 million or 13.7%, compared to $206.1 million last year. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 14.9%. ◦ Net sales from physical stores were $141.5 million, a decrease of $23.7 million or 14.4%, compared to $165.3 million last year with a comparable store net sales decrease of 15.8%. Net sales from physical stores represented 79.6% of total net sales compared to 80.2% of total net sales last year. The Company ended the third quarter with 247 total stores compared to 243 total stores at the end of the third quarter last year. ◦ Net sales from e-com were $36.3 million, a decrease of $4.5 million or 11.1%, compared to $40.8 million last year. E-com net sales represented 20.4% of total net sales compared to 19.8% of total net sales last year. • Gross profit, including buying, distribution, and occupancy costs, was $54.6 million, or 30.7% of net sales, compared to $76.7 milli
  evidence_url: https://www.sec.gov/Archives/edgar/data/1524025/000162828022031237/0001628280-22-031237-index.htm
- Earnings Releases
  TILLY'S, INC. reported the first thirty-nine weeks of fiscal 2022 ended October 29, 2022 results: revenue $491.9 million, net income $9.8 million, EPS $0.32 per diluted share.
  - Period: the first thirty-nine weeks of fiscal 2022 ended October 29, 2022
  - Revenue: $491.9 million
  - Net income: $9.8 million
  - EPS: $0.32 per diluted share
  - Result: reported results
  source text: • Total net sales were $491.9 million, a decrease of $79.3 million or 13.9%, compared to $571.2 million last year. Total comparable net sales, including both physical stores and e-com, decreased by 14.9%. ◦ Net sales from physical stores were $396.1 million, a decrease of $61.4 million or 13.4%, compared to $457.6 million last year with a comparable store net sales decrease of 14.7%. Net sales from stores represented 80.5% of total net sales compared to 80.1% of total net sales last year. ◦ Net sales from e-com were $95.8 million, a decrease of $17.8 million or 15.7%, compared to $113.6 million last year. E-com net sales represented 19.5% of total net sales compared to 19.9% of total net sales last year. • Gross profit including buying, distribution, and occupancy costs, was $150.4 million, or 30.6% of net sales, compared to $206.3 million, or 36.1% of net sales, last year. Buying, distribution and occupancy costs deleveraged by 300 basis points collectively despite being $0.9 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1524025/000162828022031237/0001628280-22-031237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.