Tilly's Q2 net loss $1.1M vs prior-year profit; comp sales -8.5%; Q3 guidance weak

TILLY'S, INC.

Net sales $160.0M, down 5% YoY; comparable sales -8.5%; physical stores -9.3%, e-com -3.4%.
Operating loss $2.7M vs income $5.2M; gross margin fell 320 bps to 27.7% on markdowns and occupancy costs.
Net loss per share $0.04 vs income $0.13; H1 net loss $13.1M ($0.44 per share) vs income $4.6M.
August comp trend improved to -3.9% through Aug 29; Q3 guidance: sales $166-171M, EPS loss $0.05-$0.11.
No debt; cash & marketable securities $104.3M; FY capex expected $15-17M for 7 new stores.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TILLY'S, INC. reported the second quarter of fiscal 2023 ended July 29, 2023 results: revenue $160.0 million, net income $(1.1) million, EPS $(0.04) per share.

Period: the second quarter of fiscal 2023 ended July 29, 2023
Revenue: $160.0 million
Net income: $(1.1) million
EPS: $(0.04) per share
Result: reported results

Exact text from the filing

to the Company's operating results for the second quarter of fiscal 2023 ended July 29, 2023 versus the second quarter of fiscal 2022 ended July 30, 2022. • Total net sales were $160.0 million, a decrease of $8.4 million or 5.0%, compared to $168.3 million last year. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 8.5%.

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Source: SEC EDGAR

accession 0001628280-23-031145

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