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Tilly’s(TLYS) - 2026 Q1 - Quarterly Results
TLYSTilly’s(TLYS)2025-06-04 20:23

Financial Performance - Total net sales for Q1 fiscal 2025 were 107.6million,adecreaseof7.1107.6 million, a decrease of 7.1% compared to Q1 fiscal 2024[3] - Comparable net sales decreased by 7.0%, with a sequential improvement of 4.2 comp points from Q4 fiscal 2024's decrease of 11.2%[3] - Gross profit was 21.3 million, or 19.8% of net sales, down from 21.0% in the previous year[3] - SG&A expenses were 44.0million,or40.944.0 million, or 40.9% of net sales, compared to 38.9% last year, reflecting a deleverage of 190 basis points[3] - Operating loss for the quarter was 22.7 million, or 21.1% of net sales, compared to 20.8million,or17.920.8 million, or 17.9% of net sales, in the prior year[3] - Net loss was 22.2 million, or 0.74pershare,comparedtoanetlossof0.74 per share, compared to a net loss of 19.6 million, or 0.65pershare,lastyear[4]Tillys,Inc.reportedanetlossof0.65 per share, last year[4] - Tilly's, Inc. reported a net loss of 22,152,000 for the thirteen weeks ended May 3, 2025, compared to a net loss of 19,621,000forthesameperiodin2024,reflectinganincreaseinlossesofapproximately819,621,000 for the same period in 2024, reflecting an increase in losses of approximately 8%[16] Inventory and Store Management - Total inventories decreased by 3.8% as of May 3, 2025, compared to the same date last year[5] - The company expects to end Q2 with a total store count of 232, down from 247 at the end of the previous year's second quarter[8] - Tilly's opened 1 new store and permanently closed 3 stores in Q1 2025, resulting in a total store count of 238 at the end of the quarter[18] - The total gross square footage of Tilly's stores decreased to 1,707,000 square feet by the end of Q1 2025, down from 1,730,000 square feet at the end of Q4 2024[18] - The company experienced a significant decrease in merchandise inventories, with a reduction of 6,394,000 compared to a decrease of 15,376,000inthesamequarterof2024,showingimprovedinventorymanagement[16]CashFlowandLiquidityThecompanygeneratednetcashusedinoperatingactivitiesof15,376,000 in the same quarter of 2024, showing improved inventory management[16] Cash Flow and Liquidity - The company generated net cash used in operating activities of 8,119,000, significantly improved from 25,690,000intheprioryear,indicatingareductionincashoutflowofabout6825,690,000 in the prior year, indicating a reduction in cash outflow of about 68%[16] - Cash and cash equivalents at the end of the period increased to 27,231,000 from 19,880,000yearoveryear,representingagrowthofapproximately3719,880,000 year-over-year, representing a growth of approximately 37%[16] - Total liquidity is projected to be approximately 106 million to 111million,withnodebtandacashpositionof111 million, with no debt and a cash position of 43 million to 48million[8]Tillyshadacashinflowof48 million[8] - Tilly's had a cash inflow of 14,294,000 from investing activities, contrasting with a cash outflow of 1,610,000inthesameperiodlastyear,markingasubstantialturnaround[16]ExpensesandAssetManagementThecompanyrecordeddepreciationandamortizationexpensesof1,610,000 in the same period last year, marking a substantial turnaround[16] Expenses and Asset Management - The company recorded depreciation and amortization expenses of 2,828,000, a decrease from 3,095,000inthesamequarterofthepreviousyear,reflectingareductionofabout93,095,000 in the same quarter of the previous year, reflecting a reduction of about 9%[16] - The company reported stock-based compensation expense of 440,000, down from 566,000inthesamequarterofthepreviousyear,reflectingadecreaseofapproximately22566,000 in the same quarter of the previous year, reflecting a decrease of approximately 22%[16] - Tilly's reported a gain on the disposal of assets of 15,000, compared to a loss of $16,000 in the prior year, indicating a positive shift in asset management[16]