Tilly’s(TLYS) - 2025 Q4 - Annual Results

Sales Performance - Total net sales for Q4 fiscal 2024 were $147.3 million, a decrease of 14.9% from the previous year, with comparable net sales down 11.2%[3] - Net sales from physical stores were$ 108.3 million, a decrease of 13.7%, while e-commerce sales were $39.0 million, down 17.8%[3] - For fiscal 2024, total net sales were$ 569.5 million, a decrease of 8.6% from fiscal 2023, with comparable net sales down 8.0%[6] - The company expects Q1 fiscal 2025 net sales to be in the range of $105 million to$ 111 million, with a comparable net sales decrease of approximately 8% to 3%[9] - Net sales for the thirteen weeks ended February 1, 2025, were $147.3 million, a decrease of 14.9% compared to$ 173.0 million for the fourteen weeks ended February 3, 2024[16] Profitability - Gross profit was $38.3 million, or 26.0% of net sales, compared to 27.0% last year, with product margins improving by 190 basis points[3] - Gross profit for the fiscal year ended February 1, 2025, was$ 149.7 million, down from $165.7 million in the previous year, reflecting a gross margin decline[16] - The net loss for fiscal 2024 was$ 46.2 million, or $1.54 per share, compared to a net loss of$ 34.5 million, or $1.16 per share, in the previous year[6] - The net loss for the fiscal year ended February 1, 2025, was$ 46.2 million, compared to a net loss of $34.5 million for the fiscal year ended February 3, 2024, indicating a worsening financial position[19] - Basic net loss per share for Class A and Class B common stock was$ (1.54) for the fiscal year ended February 1, 2025, compared to $(1.16) for the previous year[16] Expenses - SG&A expenses were$ 52.4 million, or 35.6% of net sales, an increase from 31.9% last year, primarily due to the impact of an extra week in the previous year's results[3] - The company anticipates SG&A expenses for Q1 fiscal 2025 to be approximately $42 million to$ 43 million, excluding potential non-cash store asset impairment charges[9] - Total selling, general and administrative expenses for the fiscal year ended February 1, 2025, were $199.5 million, slightly up from$ 196.6 million in the previous year[16] Operating Loss - The operating loss for Q4 was $14.1 million, or 9.6% of net sales, compared to an operating loss of$ 8.5 million, or 4.9% of net sales, in the prior year[3] - The company reported an operating loss of $49.8 million for the fiscal year ended February 1, 2025, compared to an operating loss of$ 31.0 million for the previous year[16] Cash Flow and Inventory - Cash flows from operating activities resulted in a net cash used of $42.0 million for the fiscal year ended February 1, 2025, significantly higher than$ 6.7 million in the prior year[19] - As of February 1, 2025, the company had $46.7 million in cash and cash equivalents, with total inventories increasing by 9.5% compared to the end of fiscal 2023[5] - Cash and cash equivalents at the end of the period were$ 21.1 million, down from $47.0 million at the beginning of the period[19] - The company experienced a decrease in merchandise inventories, with a change of$ (6.0) million for the fiscal year ended February 1, 2025[19] Store Operations - The company opened 2 new stores and permanently closed 4 stores during Q1 2024, resulting in a total store count of 246 at the end of the quarter[21]