Loading...
•
Aug 03, 2024
Tillys Q2 2024 Earnings Report
Tillys' financial performance reflected a slight increase in net sales and an improved gross profit margin compared to the previous year.
Key Takeaways
Tilly's Inc. reported a slight increase in total net sales, reaching $162.9 million, and an improvement in gross profit margin to 30.7%. The company's operating loss decreased to $0.9 million, and net loss was $0.1 million, or $0.00 per share.
Total net sales increased by 1.8% to $162.9 million due to calendar shift impacts.
Comparable net sales decreased by 7.8%.
Gross profit improved to $49.9 million, with product margins up by 270 basis points.
Operating loss decreased to $0.9 million from $2.7 million year-over-year.
Forward Guidance
The company estimates net sales to be in the range of approximately $140 million to $146 million for the third quarter of fiscal 2024.
Positive Outlook
- Net sales to be in the range of approximately $140 million to $146 million.
- Comparable net sales decrease in the range of approximately (6)% to (2)%.
- The company currently expects to have 246 total stores open at the end of the third quarter of fiscal 2024.
- Pre-tax loss and net loss to be in the range of approximately $(11.6) million to $(8.7) million.
- Per share results to be in the range of a net loss of $(0.39) to $(0.29).
Challenges Ahead
- Total net sales for this year's third quarter will start with an $18.4 million deficit in net sales compared to last year's third quarter.
- SG&A expenses to be approximately $49 million before factoring in any potential non-cash store asset impairment charges which may arise.
- Pre-tax loss and net loss to be in the range of approximately $(11.6) million to $(8.7) million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...