Tillys Q2 2022 Earnings Report
Key Takeaways
Tilly's Inc. announced its second quarter fiscal 2022 results, which were negatively impacted by the highest inflationary environment in 40 years. Total net sales decreased by 16.7% to $168.3 million, and net income fell to $3.8 million, or $0.13 per diluted share, compared to $20.4 million, or $0.66 per diluted share, in the same quarter last year.
Total net sales decreased by 16.7% to $168.3 million compared to $202.0 million last year.
Net income was $3.8 million, or $0.13 per diluted share, compared to $20.4 million, or $0.66 per diluted share, last year.
Gross profit was $52.0 million, or 30.9% of net sales, compared to $74.7 million, or 37.0% of net sales, last year.
The company expects the remainder of the third quarter will be challenging as they anniversary last year's early holiday shopping patterns.
Tillys
Tillys
Tillys Revenue by Segment
Forward Guidance
The Company currently estimates that its fiscal 2022 third quarter net sales will be in the range of approximately $165 million to $170 million with a comparable net sales decrease of 18% to 21%, SG&A expenses to be in the range of approximately $46 million to $47 million, operating income to be in the range of approximately $1.9 million to $4.6 million, and earnings per diluted share to be in the range of $0.05 to $0.11.
Revenue & Expenses
Visualization of income flow from segment revenue to net income