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Article Date: June 2024
Word Count: 364

Tilly’s Red Ink Deepens in Q1


Net loss widened 64% to $19,621,000 from $11,968,000 on net sales down 6% to $115,856,000 from $123,637,000 for the first quarter, landing within guidance as the retailer looks to right the ship. Blended comps were down 9.4%, seeing a rough start in Feb. before improving through Mar. and Apr., helped by the earlier Easter holiday. Brick-and-mortar net sales dropped 5% to $92.8 million, comping down 8.6%. The fleet closed down two locations at 246. E-commerce was off 11% at $23.0 million, contracting 100 b.p. to 19.9% of the top line.

 

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