US specialty retailer Tilly's clocks record quarterly sales & earnings

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has announced record-setting results with a 48.7 per cent sales growth to $202.0 million in the second quarter (Q2) of FY21 ended on July 31, 2021, over the same period of 2020. Operating income during the quarter grew 13.1 per cent to $10.9 million (Q2 FY20: $5.3 million).

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has announced record-setting results with a 48.7 per cent sales growth to $202.0 million in the second quarter (Q2) of FY21 ended on July 31, 2021, over the same period of 2020. Operating income during the quarter grew 13.1 per cent to $10.9 million (Q2 FY20: $5.3 million).#

“Fiscal 2021 has been a record-setting year for us so far. Our second quarter results included a record level of net sales and earnings per share for any quarter, and our first half earnings per share exceeded the results of any full fiscal year, since we became a public company in 2012,” 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 announced record-setting results with a 48.7 per cent sales growth to $202.0 million in the second quarter (Q2) of FY21 ended on July 31, 2021, over the same period of 2020. Operating income during the quarter grew 13.1 per cent to $10.9 million (Q2 FY20: $5.3 million).#

According to the company, its sales from physical stores in second quarter shot up 96.3 per cent to $164.6 million, primarily due to a strong product offering and the impact of the various periods of government-mandated store closures during last year. Whereas e-commerce sales fell 28.2 per cent to $37.3 million, primarily due to the anniversary of last year's triple-digit e-commerce net sales growth during May and June during the period of significant store closures.

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has announced record-setting results with a 48.7 per cent sales growth to $202.0 million in the second quarter (Q2) of FY21 ended on July 31, 2021, over the same period of 2020. Operating income during the quarter grew 13.1 per cent to $10.9 million (Q2 FY20: $5.3 million).#

Gross profit for Q2 FY21 surged to $74.7 million ($41.6 million), while selling, general and administrative expenses were $48.3 million ($33.9 million). The American clothing retailer’s net income escalated to $20.4 million ($5.2 million).

 

Tilly's, a US-based destination specialty retailer of casual apparel and footwear, has announced record-setting results with a 48.7 per cent sales growth to $202.0 million in the second quarter (Q2) of FY21 ended on July 31, 2021, over the same period of 2020. Operating income during the quarter grew 13.1 per cent to $10.9 million (Q2 FY20: $5.3 million).#

“The back-to-school season is off to a strong start with double-digit percentage increases in comparable net sales in both physical stores and e-commerce compared to both last year and 2019,” Thomas added. “Despite ongoing concerns about the current resurgence of COVID-19 cases across the country, supply chain disruptions, labour challenges, and increasing costs generally, we remain cautiously optimistic about our business prospects for the second half of fiscal 2021.”