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Feb 01
Tillys Q4 2024 Earnings Report
Tillys reported a decline in net sales and higher operating losses due to lower store traffic and e-commerce performance.
Key Takeaways
Tillys' Q4 2024 revenue was $147.3 million, down 14.9% year-over-year due to weak store and e-commerce sales. Comparable net sales declined by 11.2%. Gross margin decreased to 26.0%, impacted by lower sales volume. SG&A expenses were reduced slightly but remained high relative to revenue. The company reported a net loss of $13.7 million, compared to a net loss of $20.6 million in Q4 2023.
Total revenue declined by 14.9% year-over-year to $147.3 million.
Comparable net sales decreased by 11.2%, reflecting lower store traffic and online sales.
Gross margin fell to 26.0%, down from 27.0% in Q4 2023.
Net loss improved to $13.7 million from $20.6 million in Q4 2023.
Tillys
Tillys
Tillys Revenue by Segment
Revenue by Segment
Physical Stores Revenue
CapyFin.comE-Commerce Revenue
CapyFin.com Forward Guidance
Tillys expects continued sales pressure in Q1 2025 but aims to stabilize operations through cost reductions and improved inventory management.
Positive Outlook
- Spring assortment expected to align with consumer trends.
- Inventory efficiencies and cost-cutting measures planned for FY 2025.
- SG&A expenses expected to decline due to operational restructuring.
- No plans to access credit facility despite challenging sales environment.
- Cash position expected to remain stable through FY 2025.
Challenges Ahead
- Q1 2025 comparable net sales expected to decline by 8%-3%.
- Projected Q1 2025 revenue range of $105M-$111M, lower than Q1 2024.
- Continued weak store traffic and e-commerce performance.
- Operating losses expected to persist in the near term.
- Ongoing macroeconomic challenges impacting discretionary spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income