Tilly's Q1 net loss widens to $22.2M; Q2 guidance sees sales down 5% to flat

TILLY'S, INC.

Q1 total net sales $107.6M, down 7.1% YoY; comparable net sales -7.0%.
Net loss $22.2M ($0.74/sh) vs $19.6M ($0.65/sh) a year ago; operating loss $22.7M.
Q2 outlook: net sales $150M-$158M, comparable net sales change of -5% to flat.
Q2 expected net loss of $2.7M to net income $2.0M; EPS ($0.09)-$0.07.
Store count to drop to 232 by Q2 end from 247 prior year; potential 15 more closures.

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