Company profile

Ticker
TLYS
Exchange
Website
CEO
Edmond S. Thomas
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
452164791

TLYS stock data

(
)

Calendar

15 Jun 20
3 Aug 20
1 Feb 21

News

Company financial data Financial data

Quarter (USD) May 20 Feb 20 Nov 19 Aug 19
Revenue 77.29M 172.48M 154.78M 161.74M
Net income -17.4M 6.27M 6.39M 9.28M
Diluted EPS 0.21 0.21 0.31
Net profit margin -22.51% 3.64% 4.13% 5.74%
Operating income -28.4M 8.5M 7.7M 12.11M
Net change in cash -5M 2.54M 5.21M 28.52M
Cash on hand 65.13M 70.14M 67.6M 62.39M
Cost of revenue 75.7M 120.35M 107.61M 110.02M
Annual (USD) Feb 20 Feb 19 Feb 18 Jan 17
Revenue 619.3M 598.48M 576.9M 568.95M
Net income 22.62M 24.94M 14.7M 11.41M
Diluted EPS
Net profit margin 3.65% 4.17% 2.55% 2.01%
Operating income 28.46M 31.48M 23.99M 19.33M
Net change in cash 1.98M 14.96M -25.79M 27.97M
Cash on hand 70.14M 68.16M 53.2M 78.99M
Cost of revenue 432.59M 417.58M 401.53M 400.49M

Financial data from Tilly's earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
25 Jun 20 Henry Michael CLASS A COMMON STOCK Buy Aquire P No 5.3546 3,210 17.19K 50,000
24 Jun 20 Henry Michael CLASS A COMMON STOCK Buy Aquire P No 5.38 500 2.69K 46,790
17 Jun 20 Henry Michael CLASS A COMMON STOCK Buy Aquire P No 5.7639 5,000 28.82K 46,290
15 Jun 20 Kerr Janet Class A Common Stock Sell Dispose S Yes 6 3,916 23.5K 42,028
10 Jun 20 Johnson Seth R CLASS A COMMON STOCK Grant Aquire A No 0 12,739 0 91,897
10 Jun 20 Collier Douglas P CLASS A COMMON STOCK Grant Aquire A No 0 12,739 0 25,719
88.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 95 105 -9.5%
Opened positions 15 21 -28.6%
Closed positions 25 16 +56.3%
Increased positions 29 39 -25.6%
Reduced positions 38 31 +22.6%
13F shares
Current Prev Q Change
Total value 110.37M 316.99M -65.2%
Total shares 19.9M 20.53M -3.1%
Total puts 28.1K 0 NEW
Total calls 22.9K 65K -64.8%
Total put/call ratio 1.2
Largest owners
Shares Value Change
Divisar Capital Management 2.19M $9.04M +13.4%
Paradigm Capital Management 2.01M $8.3M +33.0%
Renaissance Technologies 1.88M $7.78M -2.9%
Dimensional Fund Advisors 1.75M $7.21M +4.1%
BLK BlackRock 1.67M $6.91M -1.0%
Vanguard 1.2M $4.96M +5.2%
Emerald Advisers 725.45K $3M +3.8%
Emerald Mutual Fund Advisers Trust 648.68K $2.68M -1.5%
RY Royal Bank of Canada 631.24K $2.61M +6.2%
JPM JPMorgan Chase & Co. 617.41K $2.55M +10.0%
Largest transactions
Shares Bought/sold Change
Paradigm Capital Management 2.01M +498.75K +33.0%
Millennium Management 110.57K -377.67K -77.4%
Divisar Capital Management 2.19M +258.71K +13.4%
Yacktman Asset Management 220.26K +220.26K NEW
Squarepoint Ops 60.01K -209.11K -77.7%
WFC Wells Fargo & Company 86.35K -169.58K -66.3%
PRU Prudential Financial 69.48K -161.4K -69.9%
Acadian Asset Management 18.21K -160.9K -89.8%
Nuveen Asset Management 158.49K -160.34K -50.3%
Mackay Shields 87.9K -151.8K -63.3%

Financial report summary

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Competition
Urban OutfittersHot TopicZumiezCaliforniaForever
Risks
  • The COVID-19 pandemic has materially disrupted our operations and is expected to continue to have an adverse effect on our business.
  • 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, warehouses and distribution and e-commerce fulfillment 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 the COVID-19 pandemic, which may create legal and financial risk for us.
  • The terms of our credit facility impose operating and financial restrictions on us that may impair our ability to respond to changing business and economic conditions.
  • 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.
  • 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 incur substantial expenses related to our issuance of share-based compensation, which may have a negative impact on our operating results for future periods.
  • We may experience fluctuations in our tax obligations and effective tax rate.
  • 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.
Management Discussion
  • commerce for the thirteen weeks ended May 2, 2020 were $30.3 million, an increase of 54.2% compared to approximately $19.7 million for the thirteen weeks ended May 4, 2019.
  • Net sales were $77.3 million, a decrease of $53.0 million, or 40.7%, compared to $130.3 million last year. During the first quarter of fiscal 2020, we temporarily closed all of our 239 stores on March 18, 2020 in response to the COVID-19 pandemic. All stores remained closed to the public for the final 45 days of the 91-day fiscal quarter, including during the peak weeks of the quarter surrounding normal school spring breaks and Easter. Net sales from physical stores for the first quarter of fiscal 2020 were $47.0 million, a decrease of 57.5%, compared to $110.6 million for the first quarter of fiscal 2019. Our e-commerce business continued to operate throughout the first quarter, and increased following the closure of our stores. Net sales from e-commerce for the first quarter of fiscal 2020 were $30.3 million, an increase of 54.2%, compared to $19.7 million for the first quarter of fiscal 2019. We ended the quarter with 239 total stores, including one RSQ-branded pop-up store, all of which remained closed as of the end of the first quarter of fiscal 2020, compared to 229 total stores, including three RSQ-branded pop-up stores, all of which were open at the end of the first quarter of fiscal 2019.
  • Gross profit was $1.6 million, a decrease of $34.1 million or 95.5%, compared to $35.7 million last year. Gross margin, or gross profit as a percentage of net sales, was 2.1% compared to 27.4% last year. Product margins decreased 770 basis points as a percentage of net sales primarily due to an estimated inventory valuation reserve of $4.7 million and increased markdowns. Occupancy costs deleveraged 1,250 basis points as a percentage of net sales despite being $0.5 million lower than last year, primarily due to the significant net sales decline resulting from the store closures noted above. Although we withheld store lease payments in April 2020, normal expense recognition of lease costs continues as normal. Distribution costs deleveraged 440 basis points as a percentage of net sales primarily due to an increase in e-commerce shipping charges of $0.9 million resulting from a greater volume of e-commerce orders. Buying costs deleveraged 70 basis points as a percentage of net sales despite being $0.1 million below last year.
Content analysis ?
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Legalese
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Readability
H.S. sophomore Good
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