Tilly's, Inc. reported a net loss of $22.2 million for the thirteen weeks ended May 3, 2025, compared to a net loss of $19.6 million in the same period last year. The company's revenue decreased by 7.1% to $107.6 million, down from $115.9 million in the prior year. This decline was attributed to a 7.4% drop in net sales from physical stores, which totaled $85.9 million, and a 5.8% decrease in e-commerce sales, which amounted to $21.7 million. The company's gross profit also fell to $21.3 million, representing 19.8% of net sales, compared to 21.0% in the previous year.
In terms of operational metrics, Tilly's operated 238 stores at the end of the reporting period, a reduction from 246 stores a year earlier. The average net sales per physical store decreased to $353, down from $373, while the average net sales per square foot also declined to $49 from $51. Comparable store net sales decreased by 7.0%, reflecting ongoing challenges in attracting customers amid a competitive retail environment.
The company's selling, general, and administrative (SG&A) expenses were $44.0 million, or 40.9% of net sales, slightly down from $45.1 million, or 38.9% of net sales, in the prior year. The decrease in SG&A expenses was primarily due to a reduction in store payroll and related benefits, offset by increased marketing expenses. Tilly's reported an operating loss of $22.7 million, which is a larger loss as a percentage of net sales compared to the previous year's operating loss of $20.8 million.
Looking ahead, Tilly's management anticipates closing 12 stores during fiscal 2025, with seven already closed as of May 2025. The company is also navigating a challenging economic landscape characterized by inflation and potential recessionary pressures, which could further impact consumer spending. Despite these challenges, Tilly's expects to manage its operations without needing to draw on its credit facility, provided that comparable net sales do not decrease significantly. The company remains focused on optimizing its inventory management and enhancing its e-commerce capabilities to drive future growth.
About TILLY'S, INC.
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