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TLYS Tillys

Tillys is a leading specialty retailer of casual apparel, footwear and accessories for young men, young women, boys and girls with an extensive assortment of iconic global, emerging and proprietary brands rooted in an active and outdoor lifestyle. Tillys is headquartered in Irvine, California and, as of February 10, 2021, operated 238 total stores across 33 states, and its website, www.tillys.com.

Company profile

Ticker
TLYS
Exchange
Website
CEO
Edmond S. Thomas
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Tilly’s, Inc. ...
IRS number
452164791

TLYS stock data

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Calendar

7 Dec 21
24 Jan 22
29 Jan 22
Quarter (USD)
Oct 21 Jul 21 May 21 Jan 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Tillys earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 59.39M 59.39M 59.39M 59.39M 59.39M 59.39M
Cash burn (monthly) 7.5M 3.33M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 21.15M 9.38M n/a n/a n/a n/a
Cash remaining 38.24M 50.01M n/a n/a n/a n/a
Runway (months of cash) 5.1 15.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Dec 21 Henry Michael Class A Common Stock Sell Dispose S No No 15.9098 33,505 533.06K 18,995
8 Dec 21 Zeichner Bernard Class A Common Stock Sell Dispose S Yes No 16.0001 5,000 80K 25,528
8 Dec 21 Thomas Edmond Class A Common Stock Sell Dispose S No No 16.0039 14,494 231.96K 6,000
8 Dec 21 Thomas Edmond Class A Common Stock Option exercise Acquire M No No 6.74 14,494 97.69K 20,494
8 Dec 21 Thomas Edmond Stock Option Class A Common Stock Option exercise Dispose M No No 6.74 14,494 97.69K 7,850
7 Dec 21 Thomas Edmond Class A Common Stock Sell Dispose S No No 16.1039 27,656 445.37K 6,000
7 Dec 21 Thomas Edmond Class A Common Stock Option exercise Acquire M No No 6.74 27,656 186.4K 33,656
7 Dec 21 Thomas Edmond Stock Option Class A Common Stock Option exercise Dispose M No No 6.74 27,656 186.4K 22,344

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

89.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 117 117
Opened positions 21 26 -19.2%
Closed positions 21 11 +90.9%
Increased positions 42 30 +40.0%
Reduced positions 38 44 -13.6%
13F shares
Current Prev Q Change
Total value 287.54M 312.01M -7.8%
Total shares 21.15M 20.19M +4.7%
Total puts 42.3K 9.68K +336.9%
Total calls 199.5K 193.19K +3.3%
Total put/call ratio 0.2 0.1 +323.1%
Largest owners
Shares Value Change
BLK Blackrock 2.19M $30.73M +4.3%
Dimensional Fund Advisors 1.71M $23.89M +1.3%
Renaissance Technologies 1.49M $20.93M -3.6%
Vanguard 1.16M $16.29M +2.1%
BML Investment Partners 1.13M $6.97M 0.0%
Divisar Capital Management 1.12M $15.74M -15.8%
Paradigm Capital Management 996.03K $13.95M -25.5%
RY Royal Bank Of Canada 849.46K $11.9M +63.9%
Acuitas Investments 774.25K $10.85M +8.9%
Emerald Mutual Fund Advisers Trust 662.15K $9.28M -1.1%
Largest transactions
Shares Bought/sold Change
GS Goldman Sachs 621.65K +377.73K +154.9%
Paradigm Capital Management 996.03K -340.47K -25.5%
RY Royal Bank Of Canada 849.46K +331.15K +63.9%
Divisar Capital Management 1.12M -211.58K -15.8%
WSTD Western Standard 0 -189.97K EXIT
Two Sigma Advisers 419.6K +177.1K +73.0%
J. Goldman & Co 354.32K +165.66K +87.8%
Russell Investments 13.84K -153.48K -91.7%
Marshall Wace North America 183.66K +122.84K +201.9%
State Board Of Administration Of Florida Retirement System 144.81K +116.82K +417.4%

Financial report summary

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Competition
Urban OutfittersZumiez
Risks
  • Our sales could be severely impacted by decreases in consumer spending.
  • We are required to make significant lease payments for our store leases, corporate offices, and distribution centers, which may strain our cash flow. In addition, in light of the COVID-19 pandemic, we may need to take certain actions with respect to some or all of our existing leases to preserve our cash position during periods wherein stores are unable to operate, which may create legal and financial risk for us.
  • Actual borrowing capacity under our $65 million asset-backed credit facility is subject to monthly fluctuations as a function of the amount of inventory and receivables we carry, which could result in limitations on our ability to access sufficient levels of additional liquidity in the event of new pandemic-related or other store shutdown periods.
  • We face intense competition in our industry and we may not be able to compete effectively.
  • We may experience comparable store sales or sales per square foot declines, which may cause our results of operations to decline.
  • Our business depends upon identifying and responding to changing customer fashion preferences and fashion-related trends. If we cannot identify trends in advance or we select the wrong fashion trends, our sales could be adversely affected.
  • Our continued growth depends upon our ability to successfully open profitable new stores and improve the performance of our existing stores, which is subject to a variety of risks and uncertainties.
  • Our continued growth depends upon our ability to continue to grow our e-commerce business and improve its profitability, which is subject to a variety of risks and uncertainties.
  • We may not be able to implement our business strategies on the timelines we anticipate, in a cost-effective manner, or at all.
  • Our ability to attract customers to our stores depends significantly on the success of the retail centers where our stores are located.
  • We buy and stock merchandise based upon seasonal weather patterns and therefore unseasonable weather could negatively impact our sales.
  • Our sales can significantly fluctuate based upon shopping seasons, which may cause our operating results to fluctuate disproportionately on a quarterly basis.
  • We purchase merchandise in advance of the season in which it will be sold and if we purchase too much inventory we may need to reduce prices in order to sell it, which may adversely affect our overall profitability.
  • If we fail to maintain good relationships with our suppliers or if our suppliers are unable or unwilling to provide us with sufficient quantities of merchandise at acceptable prices, our business and operations may be adversely affected.
  • If we cannot retain or find qualified employees to meet our staffing needs in our stores, our distribution and e-commerce fulfillment centers, or our corporate offices, our business could be adversely affected.
  • Our business largely depends on a strong brand image, and if we are not able to maintain and enhance our brand, particularly in new markets where we have limited brand recognition, we may be unable to increase or maintain our level of sales.
  • A rise in the cost of raw materials, labor and transportation could increase our cost of sales and cause our results of operations and margins to decline.
  • Any inability to balance merchandise bearing our proprietary brands with the third-party branded merchandise we sell may have an adverse effect on our sales and gross margin.
  • Most of our merchandise is produced in foreign countries, making the price and availability of our merchandise susceptible to international trade and other international conditions.
  • Our corporate headquarters, distribution and e-commerce fulfillment centers and information technology systems are in Irvine, California, and if their operations are disrupted, we may not be able to operate our store support functions, ship merchandise to our stores, or fulfill e-commerce orders, which would adversely affect our business.
  • Our stores are mostly located in the southwestern and northeastern United States and in Florida, with a significant number of stores located in California, putting us at risk to region-specific disruptions.
  • Litigation costs and the outcome of litigation could have a material adverse effect on our business.
  • If our vendors and manufacturing sources fail to use acceptable labor or other practices our reputation may be harmed, which could negatively impact our business.
  • If we lose key management personnel our operations could be negatively impacted.
  • We rely on third parties to deliver merchandise to our stores located outside of southern California and therefore our business could be negatively impacted by disruptions in the operations of these third-party providers.
  • If our information technology fails to operate or are unable to support our growth, our operations could be disrupted.
  • Our business is subject to a variety of laws, rules, and other obligations regarding data protection, which could result in additional compliance costs, subject us to enforcement actions, or cause us to change our platform or business practices.
  • If we are unable to protect our intellectual property rights, our financial results may be negatively impacted.
  • We may be subject to liability if we, or our vendors, infringe upon the intellectual property rights of third parties.
  • Our founders control a majority of the voting power of our common stock, which may prevent other stockholders from influencing corporate decisions and may result in conflicts of interest.
  • We are a controlled company within the meaning of the NYSE rules, and, as a result, we may rely on exemptions from certain corporate governance requirements that provide protection to stockholders of other companies.
  • If securities or industry analysts publish inaccurate or unfavorable research about our business, the price and trading volume of our Class A common stock could decline.
  • Financial forecasting by us and financial analysts who may publish estimates of our performance may differ materially from actual results.
  • We have a small public float compared to other larger publicly-traded companies, which may result in price swings in our Class A common stock or make it difficult to acquire or dispose of our Class A common stock.
  • The price of our Class A common stock has been, and may continue to be, volatile and may decline in value.
  • Future sales of our common stock by us or by existing stockholders could cause the price of our Class A common stock to decline.
  • Our corporate organizational documents and Delaware law have anti-takeover provisions that may inhibit or prohibit a takeover of us and the replacement or removal of our management.
  • Our amended and restated bylaws designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
  • Epidemics, pandemics, war, terrorism, civil unrest or other public disruptions could negatively affect our business.
  • We may be subject to unionization, work stoppages, slowdowns or increased labor costs.
  • Violations of and/or changes in laws, including employment laws and laws related to our merchandise, could make conducting our business more expensive or change the way we do business.
  • As a result of being a publicly traded company, our management is required to devote substantial time to complying with public company regulations.
  • Our failure to maintain adequate internal controls over our financial and management systems may cause errors in our financial reporting, which could in turn cause a loss of investor confidence.
  • We depend on cash generated from our operations to support our growth, which could strain our cash flow.
  • We may engage in strategic transactions that could negatively impact our liquidity, increase our expenses and present significant distractions to our management.
  • Changes to accounting rules or regulations could significantly affect our financial results.
  • We may experience fluctuations in our tax obligations and effective tax rate.
Management Discussion
  • (1)Historically, comparable store net sales have included net sales from our e-commerce platform and stores open at least 12 full fiscal months as of the end of the current reporting period. However, as a result of the COVID-19 pandemic, our comparable store net sales for fiscal 2021 are defined as sales from our e-commerce platform and stores open on a daily basis compared to the same respective fiscal dates last year. A remodeled or relocated store is included in comparable store net sales, both during and after construction, if the square footage of the store used to sell merchandise was not changed by more than 20% and the store was not closed for remodel for more than five days in any fiscal month. We include sales from our e-commerce platform as part of our comparable store net sales as we manage and analyze our business on an omni-channel basis and have substantially integrated our investments and operations for our stores and e-commerce platform to give our customers seamless access and increased ease or shopping. Comparable store net sales exclude gift card breakage income, and e-commerce shipping and handling fee revenue.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: allocation, amid, app, attention, contact, delivery, Expenditure, extend, frequent, inclusive, infrastructure, intensified, lost, mobile, monitoring, network, Northeast, position, Preliminary, remittitur, Southern, untimely, widespread
Removed: commenced, irrevocable, letter, refreshed, single, standby, transferred, utilization