Tilly’s Gains in Q4 despite E-commerce Woes
Net income in the final quarter was 6% higher at $6,699,000 vs. $6,304,000 as sales increased 3% to $164,317,000 from $160,215,000 on flat comps with a +2.3% store comp offset by e-commerce sales that fell 12% due to technical problems with the new integrated order management system when order volume ramped up in Dec. Gross margin expanded 70 b.p. to 31.3% with a 90 b.p. reduction in occupancy costs partially offset by 20 b.p. lower product margins. SG&A was up 20 b.p. to 24.3% of sales due to minimum wage increases. TLYS took a $0.2 million charge in Q4 from ... Log in to view full article.