US Market News
4週前
Tilly's, Inc. Fiscal 2026 First Quarter Comp Sales Increase +22.9%June 3, 2026 4:05 PM
Business Wire Reports Strong Start to Fiscal 2026 Second Quarter Tilly’s, Inc. (NYSE: TLYS, the "Company") today announced financial results for the first quarter of fiscal 2026 ended May 2, 2026. "The turnaround momentum which began in fiscal 2025 continued through the first quarter of fiscal 2026, extending our streak of comparable net sales growth to three consecutive quarters and nine consecutive months, and delivering our fourth consecutive quarter of year-over-year profit improvement," commented Nate Smith, President and Chief Executive Officer. "Returning to profitability is our foremost goal for fiscal 2026. We believe the strength of our start to the fiscal year gives us a clear and credible path to get there, provided we can maintain a strong, positive sales trajectory throughout the year." Operating Results Overview Fiscal 2026 First Quarter Compared to Fiscal 2025 First Quarter The following comparisons refer to the Company's operating results for the first quarter of fiscal 2026 ended May 2, 2026 versus the first quarter of fiscal 2025 ended May 3, 2025. Total net sales were $124.7 million, an increase of 15.9%. Total comparable net sales, including both physical stores and e-commerce ("e-com"), increased by 22.9%. Net sales from physical stores were $96.3 million, an increase of 12.1%. The Company ended the first quarter with 220 total stores, a decrease of 18 stores or 7.6%, compared to 238 total stores at the end of the first quarter last year. Comparable net sales from physical stores increased by 20.8% relative to the comparable 13-week period ended May 3, 2025. Net sales from physical stores represented 77.2% of total net sales this year compared to 79.8% of total net sales last year. Net sales from e-com were $28.4 million, an increase of 30.9%. E-com net sales represented 22.8% of total net sales this year compared to 20.2% of total net sales last year. Gross profit, including buying, distribution, and occupancy costs, was $36.1 million, or 28.9% of net sales, an improvement of $14.8 million or 910 basis points as a percentage of net sales compared to $21.3 million, or 19.8% of net sales, last year. Product margins improved by 400 basis points primarily due to improved full-price selling associated with operating with inventories that were more current in terms of aging compared to last year. Buying, distribution, and occupancy costs improved by 520 basis points, or $0.9 million, collectively, primarily due to decreased occupancy costs associated with reduced store count. Selling, general and administrative ("SG&A") expenses were $44.2 million, or 35.4% of net sales, compared to $44.0 million, or 40.9% of net sales, last year. The $0.2 million increase in SG&A was primarily attributable to increases in digital marketing expenses and store and corporate payroll and benefits expenses being largely offset by lower non-cash asset impairment charges of $1.0 million. Operating loss improved to $8.1 million, or 6.5% of net sales, compared to $22.7 million, or 21.1% of net sales, last year, due to the combined impact of the factors noted above. Income tax expense was $0.1 million, or (1.7)% of pre-tax loss, compared to an income tax benefit of $0.1 million, or 0.6% of pre-tax loss, last year. Both periods include the continuing impact of a full, non-cash deferred tax asset valuation allowance. Net loss improved to $8.0 million, or $(0.26) per share, representing an improvement of $14.2 million or $0.48 per share compared to a net loss of $22.2 million, or $(0.74) net loss per share, last year. Weighted average shares were 30.1 million in both periods. Balance Sheet and Liquidity As of May 2, 2026, the Company had total available liquidity of $91.8 million, comprised of $41.1 million of cash, cash equivalents, and marketable securities and $50.7 million of available, undrawn borrowing capacity under its asset-backed credit facility. Total cash, cash equivalents, and marketable securities were $37.2 million at May 3, 2025. Total inventories decreased by 6.4% compared to the end of the first quarter last year. Total year-to-date capital expenditures at the end of the first quarter was $1.4 million this year compared to $1.5 million at the end of the first quarter of fiscal 2025. Fiscal 2026 Second Quarter Outlook Total comparable net sales for fiscal May ended May 30, 2026 increased by 8.3% relative to the comparable period of fiscal 2025, marking the Company's 10th consecutive month of comparable net sales growth. Based on current and historical trends, the Company currently estimates the following for the second quarter of fiscal 2026 ending August 1, 2026: Net sales in the range of approximately $154 million to $160 million, translating to an estimated comparable net sales increase of 6% to 10%, respectively, relative to last year's second quarter; Product margins to be flat to up slightly compared to last year's company-record rate for a fiscal second quarter; SG&A expenses to be approximately $48 million to $49 million, excluding any potential non-cash asset impairment charges that may arise; Net income of approximately $3.8 million to $6.0 million, respectively, with a near-zero effective income tax rate due to the continuing impact of a full, non-cash valuation allowance on deferred tax assets; and Net income per diluted share to be in the range of $0.13 to $0.20, respectively, compared to $0.10 for last year's second quarter, with estimated weighted average diluted shares of approximately 30.3 million. The Company currently expects to have 221 stores open at the end of the second quarter of fiscal 2026 compared to 232 at the end of last year's second quarter. Conference Call Information A conference call with analysts to discuss these financial results is scheduled for today, June 3, 2026, at 4:30 p.m. ET (1:30 p.m. PT). Analysts interested in participating in the call are invited to dial (877) 423-9813 (domestic) or (201) 689-8537 (international). The conference call will also be available to interested parties through a live webcast at www.tillys.com. Please visit the website and select the “Investor Relations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until June 10, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 13760460. About Tillys Tillys is a destination specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys and girls with an extensive selection of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and currently operates 220 total stores across 32 states, as well as its website, www.tillys.com. Forward-Looking Statements Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding our current operating expectations in light of historical results, the improvement in our comparable net sales trend and our ability to maintain or improve upon it, the impacts of inflation, tariffs, and potential recession on us and our customers, including on our future financial condition or operating results, expectations regarding changes in the macro-economic environment, customer traffic, our supply chain, our ability to properly manage our inventory levels, and any other statements about our future cash position, financial flexibility, expectations, plans, intentions, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to the impact of inflation on consumer behavior and our business and operations, supply chain difficulties, and our ability to respond thereto, our ability to respond to changing customer preferences and trends, attract customer traffic at our stores and online, execute our growth and long-term strategies, expand into new markets, grow our e-commerce business, effectively manage our inventory and costs, effectively compete with other retailers, attract talented employees, or enhance awareness of our brand and brand image, general consumer spending patterns and levels, including changes in historical spending patterns, the markets generally, our ability to satisfy our financial obligations, including under our credit facility and our leases, and other factors that are detailed in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”), including those detailed in the section titled “Risk Factors” and in our other filings with the SEC, which are available on the SEC’s website at www.sec.gov and on our website at www.tillys.com under the heading “Investor Relations”. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. This release should be read in conjunction with our financial statements and notes thereto contained in our Form 10-K. Tilly’s, Inc. Consolidated Balance Sheets (In thousands, except par value) (unaudited) May 2,
2026 January 31,
2026 May 3,
2025 ASSETS Current assets: Cash and cash equivalents $ 31,244 $ 46,313 $ 27,231 Marketable securities 9,876 — 9,973 Receivables 6,086 6,093 4,914 Merchandise inventories 70,703 61,692 75,572 Prepaid expenses and other current assets 8,101 11,095 9,297 Total current assets 126,010 125,193 126,987 Operating lease assets 157,054 150,364 167,369 Property and equipment, net 32,519 33,504 37,876 Other assets 1,542 1,699 1,919 TOTAL ASSETS $ 317,125 $ 310,760 $ 334,151 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 28,434 $ 21,717 $ 31,778 Accrued expenses 14,720 12,102 12,317 Deferred revenue 12,985 13,290 13,305 Accrued compensation and benefits 7,202 7,903 7,537 Current portion of operating lease liabilities 45,314 41,308 47,931 Current portion of operating lease liabilities, related party 3,829 3,745 3,501 Other liabilities 50 50 141 Total current liabilities 112,534 100,115 116,510 Long-term liabilities: Noncurrent portion of operating lease liabilities 115,629 113,305 123,452 Noncurrent portion of operating lease liabilities, related party 11,108 12,099 14,937 Other liabilities 87 99 137 Total long-term liabilities 126,824 125,503 138,526 Total liabilities 239,358 225,618 255,036 Stockholders’ equity: Common stock (Class A) 23 23 23 Common stock (Class B) 7 7 7 Preferred stock — — — Additional paid-in capital 177,316 176,755 175,269 Accumulated deficit (99,596 ) (91,643 ) (96,343 ) Accumulated other comprehensive income 17 — 159 Total stockholders’ equity 77,767 85,142 79,115 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 317,125 $ 310,760 $ 334,151 Tilly’s, Inc. Consolidated Statements of Operations (In thousands, except per share data) (unaudited) Thirteen Weeks Ended May 2,
2026 May 3,
2025 Net sales $ 124,718 $ 107,611 Cost of goods sold (includes buying, distribution, and occupancy costs) 87,714 85,394 Rent expense, related party 932 932 Total cost of goods sold (includes buying, distribution, and occupancy costs) 88,646 86,326 Gross profit 36,072 21,285 Selling, general and administrative expenses 44,037 43,841 Rent expense, related party 133 133 Total selling, general and administrative expenses 44,170 43,974 Operating loss (8,098 ) (22,689 ) Other income, net 282 398 Loss before income taxes (7,816 ) (22,291 ) Income tax expense (benefit) 137 (139 ) Net loss $ (7,953 ) $ (22,152 ) Basic loss per share of Class A and Class B common stock $ (0.26 ) $ (0.74 ) Diluted loss per share of Class A and Class B common stock $ (0.26 ) $ (0.74 ) Weighted average basic shares outstanding 30,119 30,060 Weighted average diluted shares outstanding 30,119 30,060 Tilly’s, Inc. Consolidated Statements of Cash Flows (In thousands) (unaudited) Thirteen Weeks Ended May 2,
2026 May 3,
2025 Cash flows from operating activities Net loss $ (7,953 ) $ (22,152 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,259 2,828 Stock-based compensation expense 503 440 Impairment of assets — 1,008 Loss on disposal of assets 4 15 Gain on maturities of marketable securities — (180 ) Changes in operating assets and liabilities: Receivables 897 (740 ) Merchandise inventories (9,011 ) (6,394 ) Prepaid expenses and other assets 3,719 1,559 Accounts payable 6,650 20,658 Accrued expenses 2,121 176 Accrued compensation and benefits (701 ) (1,881 ) Operating lease liabilities (2,050 ) (2,602 ) Deferred revenue (305 ) (811 ) Other liabilities (12 ) (43 ) Net cash used in operating activities (3,879 ) (8,119 ) Cash flows from investing activities Purchases of marketable securities (9,859 ) — Purchases of property and equipment (1,389 ) (1,522 ) Proceeds from maturities of marketable securities — 15,816 Net cash (used in) provided by investing activities (11,248 ) 14,294 Cash flows from financing activities Proceeds from exercise of stock options 58 — Net cash provided by financing activities 58 — Change in cash and cash equivalents (15,069 ) 6,175 Cash and cash equivalents, beginning of period 46,313 21,056 Cash and cash equivalents, end of period $ 31,244 $ 27,231 Tilly's, Inc. Store Count and Square Footage Store Count at Beginning of Quarter New Stores Opened During Quarter Stores Permanently Closed During Quarter Store Count at End of Quarter Total Gross Square Footage End of Quarter (in thousands) 2025 Q1 240 1 3 238 1,707 2025 Q2 238 1 7 232 1,657 2025 Q3 232 2 4 230 1,642 2025 Q4 230 — 7 223 1,593 2026 Q1 223 1 4 220 1,568 View source version on businesswire.com: https://www.businesswire.com/news/home/20260603569331/en/ Investor Relations Contact:
Michael L. Henry
Executive Vice President, Chief Financial Officer
(949) 609-5599, ext. 17000
irelations@tillys.com Original: Tilly's, Inc. Fiscal 2026 First Quarter Comp Sales Increase +22.9%
US Market News
4月前
Tilly's, Inc. Fiscal 2025 Fourth Quarter Results Exceed ExpectationsMarch 11, 2026 4:05 PM
Business Wire
Reports First Profitable Fourth Quarter Since Fiscal 2021, Strong Start to Fiscal 2026
Tilly’s, Inc. (NYSE: TLYS, the "Company") today announced financial results for the fourth quarter of fiscal 2025 ended January 31, 2026.
"Our positive comparable store net sales momentum accelerated in the fourth quarter of fiscal 2025 and produced our first profitable fourth quarter and full-year positive comp sales since fiscal 2021," commented Nate Smith, President and Chief Executive Officer. "Since turning positive in August, we have now produced seven consecutive months of comparable net sales growth, including February 2026 increasing by 20 percent. We are off to a strong start to fiscal 2026 and we feel optimistic about our prospects for the year."
Operating Results Overview
Fiscal 2025 Fourth Quarter Compared to Fiscal 2024 Fourth Quarter
The following comparisons refer to the Company's operating results for the fourth quarter of fiscal 2025 ended January 31, 2026 versus the fourth quarter of fiscal 2024 ended February 1, 2025.
Total net sales were $155.1 million, an increase of 5.3%. Total comparable net sales, including both physical stores and e-commerce ("e-com"), increased by 10.1%.
Net sales from physical stores were $112.2 million, an increase of 3.6%. The Company ended the fourth quarter with 223 total stores, a decrease of 17 stores or 7.1%, compared to 240 total stores at the end of the fourth quarter last year. Comparable net sales from physical stores increased by 10.3% relative to the comparable 13-week period ended February 1, 2025. Net sales from physical stores represented 72.3% of total net sales this year compared to 73.5% of total net sales last year.
Net sales from e-com were $43.0 million. Comparable net sales from e-com increased by 9.8%. E-com net sales represented 27.7% of total net sales this year compared to 26.5% of total net sales last year.
Gross profit, including buying, distribution, and occupancy costs, was $51.5 million, or 33.2% of net sales, compared to $38.3 million, or 26.0% of net sales, last year. Product margins improved by 470 basis points primarily due to the combination of higher initial markups and lower markdowns as a result of operating with reduced, more current inventory. Buying, distribution, and occupancy costs improved by 250 basis points, or $1.9 million, collectively, primarily due to decreased occupancy costs associated with reduced store count.
Selling, general and administrative ("SG&A") expenses were $48.9 million, or 31.5% of net sales, compared to $52.4 million, or 35.6% of net sales, last year. The $3.5 million decrease in SG&A was primarily attributable to decreases in store payroll and related benefits of $1.6 million, among several other smaller reductions in various expenses.
Operating income improved to $2.6 million, or 1.7% of net sales, compared to an operating loss of $14.1 million, or 9.6% of net sales, last year, due to the combined impact of the factors noted above.
Income tax expense was $18 thousand, or 0.6% of pre-tax income, compared to $0.2 million, or 1.8% of pre-tax loss, last year. Both periods include the continuing impact of a full, non-cash deferred tax asset valuation allowance.
Net income improved to $2.9 million, or $0.10 per diluted share, from net loss of $13.7 million, or $0.45 net loss per share, last year, representing an improvement of $16.6 million, or $0.55 per share, compared to last year. Weighted average diluted shares were 30.3 million this year compared to 30.1 million weighted average shares last year.
Fiscal 2025 Full Year Operating Results Overview
The following comparisons refer to the Company's operating results for fiscal 2025 ended January 31, 2026 versus fiscal 2024 ended February 1, 2025.
Total net sales were $553.6 million, a decrease of 2.8%. Total comparable net sales, including both physical stores and e-commerce ("e-com"), increased by 0.3%.
Net sales from physical stores were $431.1 million, a decrease of 3.1%. Comparable store net sales from physical stores increased by 0.9% relative to the comparable 52-week period ended February 1, 2025. Net sales from physical stores represented 77.9% of total net sales this year compared to 78.1% of total net sales last year.
Net sales from e-com were $122.5 million, a decrease of 1.8%. E-com net sales represented 22.1% of total net sales this year compared to 21.9% of total net sales last year.
Gross profit, including buying, distribution, and occupancy costs, was $164.5 million, or 29.7% of net sales, compared to $149.7 million, or 26.3% of net sales, last year. Product margins improved by 290 basis points primarily due to higher initial markups and lower markdowns as a result of operating with reduced, more current inventory. Buying, distribution, and occupancy costs improved by 50 basis points, or $7.1 million, collectively, primarily due to decreased occupancy costs associated with operating 17 fewer net stores.
Selling, general and administrative ("SG&A") expenses were $183.8 million, or 33.2% of net sales, compared to $199.5 million, or 35.0% of net sales, last year. The $15.7 million reduction in SG&A was primarily attributable to decreases in store payroll and related benefits of $6.0 million, non-cash asset write-down charges of $3.2 million, e-com fulfillment labor of $2.6 million, among several other smaller reductions in various expenses.
Operating loss improved to $19.3 million, or 3.5% of net sales, compared to $49.8 million, or 8.8% of net sales, last year, due to the combined impact of the factors noted above.
Income tax benefit was $137 thousand, or 0.8% of pre-tax loss, compared to income tax expense of $0.2 million, or 0.5% of pre-tax loss, last year. Both periods include the continuing impact of a full, non-cash deferred tax asset valuation allowance.
Net loss improved to $17.5 million, or $0.58 per share, compared to $46.2 million, or $1.54 net loss per share, last year, representing an improvement of $28.7 million, or $0.96 per share, compared to last year. Weighted average shares were 30.1 million this year compared to 30.0 million last year.
Balance Sheet and Liquidity
As of January 31, 2026, the Company had total available liquidity of $87.8 million, comprised of $46.3 million of cash and cash equivalents and $41.5 million of available, undrawn borrowing capacity under its asset-backed credit facility. Total inventories decreased by 10.8% compared to the end of the fourth quarter last year. Total year-to-date capital expenditures at the end of the fourth quarter were $4.7 million this year compared to $8.2 million at the end of the fourth quarter of fiscal 2024.
Fiscal 2026 First Quarter Outlook
Total comparable net sales for the first fiscal month of fiscal 2026 ended February 28, 2026 increased by 20.1% relative to the comparable period of fiscal 2025. Based on current and historical trends, the Company currently estimates the following for the first quarter of fiscal 2026 ending May 2, 2026:
Net sales in the range of approximately $119 million to $125 million, translating to an estimated comparable net sales increase of 16% to 22%, respectively, relative to last year's first quarter;
Product margin improvement of approximately 310 to 330 basis points relative to last year's first quarter;
SG&A expenses to be approximately $44 million to $45 million, excluding any potential non-cash asset impairment charges that may arise;
Net loss of approximately $10.1 million to $8.0 million, respectively, with a near-zero effective income tax rate due to the continuing impact of a full, non-cash valuation allowance on deferred tax assets; and
Per share results to be in the range of a net loss of $0.34 to $0.27, respectively, compared to a net loss per share of $0.74 for last year's first quarter, with estimated weighted average shares of approximately 30.1 million.
The Company currently expects to have 220 stores open at the end of the first quarter of fiscal 2026 compared to 238 at the end of last year's first quarter.
Promotion of Michael J. Cingolani to Chief Merchandising Officer
On March 10, 2026, the Company promoted Michael J. Cingolani to the position of Chief Merchandising Officer in recognition of his efforts and positive contributions to the Company's business performance since his appointment as Senior Vice President, General Merchandising Manager in November 2024.
Conference Call Information
A conference call with analysts to discuss these financial results is scheduled for today, March 11, 2026, at 4:30 p.m. ET (1:30 p.m. PT). Analysts interested in participating in the call are invited to dial (877) 300-8521 (domestic) or (412) 317-6026 (international). The conference call will also be available to interested parties through a live webcast at www.tillys.com. Please visit the website and select the “Investor Relations” link at least 15 minutes prior to the start of the call to register and download any necessary software. A telephone replay of the call will be available until March 18, 2026, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the conference identification number: 10206873.
About Tillys
Tillys is a destination specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys and girls with an extensive selection of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and currently operates 224 total stores across 33 states, as well as its website, www.tillys.com.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding our current operating expectations in light of historical results, the improvement in our comparable net sales trend and our ability to maintain or improve upon it, the impacts of inflation, tariffs, and potential recession on us and our customers, including on our future financial condition or operating results, expectations regarding changes in the macro-economic environment, customer traffic, our supply chain, our ability to properly manage our inventory levels, and any other statements about our future cash position, financial flexibility, expectations, plans, intentions, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management’s current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to the impact of inflation on consumer behavior and our business and operations, supply chain difficulties, and our ability to respond thereto, our ability to respond to changing customer preferences and trends, attract customer traffic at our stores and online, execute our growth and long-term strategies, expand into new markets, grow our e-commerce business, effectively manage our inventory and costs, effectively compete with other retailers, attract talented employees, or enhance awareness of our brand and brand image, general consumer spending patterns and levels, including changes in historical spending patterns, the markets generally, our ability to satisfy our financial obligations, including under our credit facility and our leases, and other factors that are detailed in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”), including those detailed in the section titled “Risk Factors” and in our other filings with the SEC, which are available on the SEC’s website at www.sec.gov and on our website at www.tillys.com under the heading “Investor Relations”. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. This release should be read in conjunction with our financial statements and notes thereto contained in our Form 10-K.
Tilly’s, Inc.
Consolidated Balance Sheets
(In thousands, except par value)
(unaudited)
January 31,
2026
February 1,
2025
ASSETS
Current assets:
Cash and cash equivalents
$
46,313
$
21,056
Marketable securities
—
25,653
Receivables
6,093
4,094
Merchandise inventories
61,692
69,178
Prepaid expenses and other current assets
11,095
10,979
Total current assets
125,193
130,960
Operating lease assets
150,364
169,805
Property and equipment, net
33,504
40,139
Other assets
1,699
1,559
TOTAL ASSETS
$
310,760
$
342,463
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
21,717
$
11,120
Accrued expenses
12,102
12,750
Deferred revenue
13,290
14,116
Accrued compensation and benefits
7,903
9,418
Current portion of operating lease liabilities
41,308
48,384
Current portion of operating lease liabilities, related party
3,745
3,423
Other liabilities
50
172
Total current liabilities
100,115
99,383
Long-term liabilities:
Noncurrent portion of operating lease liabilities
113,305
126,216
Noncurrent portion of operating lease liabilities, related party
12,099
15,844
Other liabilities
99
149
Total long-term liabilities
125,503
142,209
Total liabilities
225,618
241,592
Stockholders’ equity:
Common stock (Class A)
23
23
Common stock (Class B)
7
7
Preferred stock
—
—
Additional paid-in capital
176,755
174,829
Accumulated deficit
(91,643
)
(74,191
)
Accumulated other comprehensive income
—
203
Total stockholders’ equity
85,142
100,871
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
310,760
$
342,463
Tilly’s, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(unaudited)
Thirteen Weeks Ended
Fifty-Two Weeks Ended
January 31,
2026
February 1,
2025
January 31,
2026
February 1,
2025
Net sales
$
155,131
$
147,288
$
553,585
$
569,453
Cost of goods sold (includes buying, distribution, and occupancy costs)
102,707
108,090
385,391
416,029
Rent expense, related party
931
931
3,727
3,727
Total cost of goods sold (includes buying, distribution, and occupancy costs)
103,638
109,021
389,118
419,756
Gross profit
51,493
38,267
164,467
149,697
Selling, general and administrative expenses
48,770
52,280
183,273
199,014
Rent expense, related party
134
135
534
532
Total selling, general and administrative expenses
48,904
52,415
183,807
199,546
Operating income (loss)
2,589
(14,148
)
(19,340
)
(49,849
)
Other income, net
371
723
1,751
3,837
Income (loss) before income taxes
2,960
(13,425
)
(17,589
)
(46,012
)
Income tax expense (benefit)
18
239
(137
)
217
Net income (loss)
$
2,942
$
(13,664
)
$
(17,452
)
$
(46,229
)
Basic earnings (loss) per share of Class A and Class B common stock
$
0.10
$
(0.45
)
$
(0.58
)
$
(1.54
)
Diluted earnings (loss) per share of Class A and Class B common stock
$
0.10
$
(0.45
)
$
(0.58
)
$
(1.54
)
Weighted average basic shares outstanding
30,115
30,060
30,095
30,028
Weighted average diluted shares outstanding
30,261
30,060
30,095
30,028
Tilly’s, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(unaudited)
Fifty-Two Weeks Ended
January 31,
2026
February 1,
2025
Cash flows from operating activities
Net loss
$
(17,452
)
$
(46,229
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
10,584
12,771
Stock-based compensation expense
1,926
2,057
Impairment of assets
1,155
4,366
Loss (gain) on disposal of assets
62
(29
)
Gain on maturities of marketable securities
(363
)
(1,823
)
Changes in operating assets and liabilities:
Receivables
(1,585
)
2,856
Merchandise inventories
7,486
(6,019
)
Prepaid expenses and other assets
(1,144
)
1,044
Accounts payable
10,572
(3,405
)
Accrued expenses
(374
)
73
Accrued compensation and benefits
(1,515
)
(484
)
Operating lease liabilities
(4,274
)
(6,019
)
Deferred revenue
(826
)
(841
)
Other liabilities
(154
)
(336
)
Net cash provided by (used in) operating activities
4,098
(42,018
)
Cash flows from investing activities
Purchases of marketable securities
—
(74,547
)
Purchases of property and equipment
(4,687
)
(8,224
)
Proceeds from maturities of marketable securities
25,816
98,500
Proceeds from sale of property and equipment
30
24
Net cash provided by investing activities
21,159
15,753
Cash flows from financing activities
Proceeds from exercise of stock options
—
294
Net cash provided by financing activities
—
294
Change in cash and cash equivalents
25,257
(25,971
)
Cash and cash equivalents, beginning of period
21,056
47,027
Cash and cash equivalents, end of period
$
46,313
$
21,056
Tilly's, Inc.
Store Count and Square Footage
Store
Count at
Beginning of
Quarter
New Stores
Opened
During Quarter
Stores
Permanently
Closed
During Quarter
Store Count at
End of Quarter
Total Gross
Square Footage
End of Quarter
(in thousands)
2024 Q1
248
2
4
246
1,784
2024 Q2
246
1
—
247
1,791
2024 Q3
247
—
1
246
1,780
2024 Q4
246
4
10
240
1,730
2025 Q1
240
1
3
238
1,707
2025 Q2
238
1
7
232
1,657
2025 Q3
232
2
4
230
1,642
2025 Q4
230
—
7
223
1,593
View source version on businesswire.com: https://www.businesswire.com/news/home/20260311673967/en/
Investor Relations Contact:
Michael L. Henry
Executive Vice President, Chief Financial Officer
(949) 609-5599, ext. 17000
irelations@tillys.com
Original: Tilly's, Inc. Fiscal 2025 Fourth Quarter Results Exceed Expectations
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