Tilly’s, Inc. Announces Third Quarter Operating Results
Fiscal 2022 Third Quarter Operating Results Overview: *Total net sales were $177.8 million, a decrease of $28.2 million or 13.7%, compared to $206.1 million last year. Total comparable net sales, including both physical stores and e-commerce ("e-com"), decreased by 14.9%. *Gross profit, including buying, distribution, and occupancy costs, was $54.6 million, or 30.7% of net sales, compared to $76.7 million, or 37.2% of net sales, last year. *Operating income was $6.3 million, or 3.6% of net sales, compared to $29.0 million, or 14.1% of net sales, last year, due to the combined impact of the factors noted above. *Net income was $5.1 million, or $0.17 per diluted share, compared to $20.8 million, or $0.66 per diluted share, last year. Weighted average diluted shares were 30.0 million this year compared to 31.4 million last year.