Tilly’s announces positive Q1 2015 results

By

Obi Anyanwu

Published
Jun 1, 2015

Southern California-based company Tilly’s last week reported its first quarter 2015 results. The company saw an increase in net sales, gross profit and net income.

Total net sales were $120.2 million, an increase of 8.1% compared to $111.1 million in the first quarter of 2014. Comparable store sales, which include e-commerce sales, increased 2.0% compared to the same 13-week period in 2014. Gross profit increased 15.3% to $36.1 million compared to $31.3 million in the first quarter of 2014. 

Operating income was $2.1 million, compared to operating income of $1.1 million in the first quarter of 2014, while net income was $1.3 million. This compares to net income in the first quarter of 2014 of $0.6 million.

"Our first quarter results illustrate continued progress on our initiatives to increase sales and profitability, as we delivered positive comparable store sales and solid earnings growth over the prior year period. We expanded our gross profit and ended the quarter with inventory well positioned for the summer and back-to-school seasons," commented Daniel Griesemer, President and Chief Executive Officer.
 
The company expects second quarter comparable store sales to be in the range of a decline of 2% to an increase of 2%.