Financial Performance - Total net sales for Q2 FY2024 were 2.9 million or 1.8% compared to 49.9 million, or 30.7% of net sales, compared to 278.7 million, a decrease of 283.6 million last year[7] - Net sales for the thirteen weeks ended August 3, 2024, were 159,951,000 for the same period last year, representing a 1.3% increase[21] Expenses and Losses - SG&A expenses increased to 47.0 million, or 29.4% of net sales, last year[5] - Operating loss was 2.7 million, or 1.7% of net sales, last year[5] - Net loss for Q2 FY2024 was 0.00 net loss per share, compared to a net loss of 0.04 net loss per share, last year[6] - The net loss for the twenty-six weeks ended August 3, 2024, was 13,093,000 for the same period last year[22] Future Projections - The company expects Q3 FY2024 net sales to be in the range of approximately 146 million, translating to an estimated comparable net sales decrease of approximately (6)% to (2)%[13] Store Operations - The company plans to maintain 246 total stores at the end of Q3 FY2024, compared to 249 at the end of the previous year's third quarter[14] - The company opened 1 new store during the second quarter of 2024, bringing the total store count to 247[23] Cash and Assets - As of August 3, 2024, the company had 104.3 million a year ago[11] - Total current assets increased to 176,059,000 as of February 3, 2024, reflecting a 10.7% increase[20] - Total liabilities increased to 284,676,000 as of February 3, 2024, indicating a 6.1% rise[20] - The company had cash and cash equivalents of 47,027,000 as of February 3, 2024, representing a decrease of 22.0%[22] - Merchandise inventories increased to 63,159,000 as of February 3, 2024, a significant increase of 50.4%[20] Share Information - Selling, general and administrative expenses for the thirteen weeks ended August 3, 2024, were 47,001,000 for the same period last year, reflecting an increase of 5.9%[21] - The weighted average basic shares outstanding increased to 30,029,000 for the thirteen weeks ended August 3, 2024, compared to 29,831,000 for the same period last year[21]
Tilly’s(TLYS) - 2025 Q2 - Quarterly Results