Tillys Q1 2022 Earnings Report
Key Takeaways
Tilly's, Inc. announced its first quarter fiscal 2022 results, with total net sales decreasing by 10.7% to $145.8 million compared to the previous year's record. Operating income was $1.1 million, a significant decrease from $14.9 million in the prior year. Net income also declined to $0.8 million, or $0.03 per diluted share, compared to $11.0 million, or $0.36 per diluted share, in the first quarter of fiscal 2021.
Total net sales decreased by 10.7% to $145.8 million compared to the first quarter of fiscal 2021.
Net sales from physical stores decreased by 8.0% to $117.5 million, while e-commerce sales decreased by 20.3% to $28.3 million.
Gross profit was $43.8 million, or 30.1% of net sales, compared to $54.8 million, or 33.6% of net sales, last year.
Operating income was $1.1 million, or 0.8% of net sales, compared to $14.9 million, or 9.1% of net sales, last year.
Tillys
Tillys
Tillys Revenue by Segment
Forward Guidance
The Company estimates that its fiscal 2022 second quarter net sales will be in the range of $170 million to $175 million with product margins approximately 200-250 basis points below last year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income