Tilly's reports Q3 FY20 sales of $140 mn

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has reported 9.4 per cent sales decline to $140.3 million in its third quarter (Q3) FY20 ended on October 31, compared to sales of $154.8 million in the same period previous fiscal. Company’s net income for the quarter slipped to $2.1 million (Q3 FY19: $6.4 million).

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has reported 9.4 per cent sales decline to $140.3 million in its third quarter (Q3) FY20 ended on October 31, compared to sales of $154.8 million in the same period previous fiscal. Company's net income for the quarter slipped to $2.1 million (Q3 FY19: $6.4 million).#

Company’s Q3 FY20 results were negatively influenced by delayed back-to-school timing this year, restrictions on store customer traffic and operating hours, and the government-mandated closure of 33 California stores. Sales from e-commerce grew to $35.7 million ($22.7 million).

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has reported 9.4 per cent sales decline to $140.3 million in its third quarter (Q3) FY20 ended on October 31, compared to sales of $154.8 million in the same period previous fiscal. Company's net income for the quarter slipped to $2.1 million (Q3 FY19: $6.4 million).#

“The third quarter finished strong following a weak start in August resulting from delays in back-to-school timing this year, and this positive momentum carried into the early stages of the fourth quarter,” Ed Thomas, president and chief executive officer at Tilly's, said in a press release.

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has reported 9.4 per cent sales decline to $140.3 million in its third quarter (Q3) FY20 ended on October 31, compared to sales of $154.8 million in the same period previous fiscal. Company's net income for the quarter slipped to $2.1 million (Q3 FY19: $6.4 million).#

Gross profit for the quarter was $40.7 million ($47.2 million). Selling, general and administrative expenses were $37.1 million ($39.5 million). Tilly's operating income during Q3 FY20 was down to $3.5 million ($7.7 million).

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has reported 9.4 per cent sales decline to $140.3 million in its third quarter (Q3) FY20 ended on October 31, compared to sales of $154.8 million in the same period previous fiscal. Company's net income for the quarter slipped to $2.1 million (Q3 FY19: $6.4 million).#

“With all of our stores closed on Thanksgiving and with reduced operating hours and significant restrictions on customer traffic on Black Friday this year as a result of the pandemic, we saw much lower sales compared to last year for those two days. However, sales in physical stores have been positive each day since Black Friday. Our e-com sales have remained strong during both the third and fourth quarters,” Thomas said.