Company profile

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

TLYS stock data

(
)

Calendar

10 Sep 19
19 Sep 19
1 Feb 20

News

Company financial data Financial data

Quarter (USD) Aug 19 May 19 Feb 19 Nov 18
Revenue 161.74M 130.3M 170.61M 146.83M
Net income 9.28M 677K 8.68M 5.36M
Diluted EPS 0.29 0.18
Net profit margin 5.74% 0.52% 5.09% 3.65%
Operating income 12.11M 146K 10.93M 6.74M
Net change in cash 28.52M -34.3M 43.41M -20.89M
Cash on hand 62.39M 33.86M 68.16M 24.75M
Cost of revenue 110.02M 94.62M 118.46M 103.17M
Annual (USD) Feb 19 Jan 17 Jan 16 Jan 15
Revenue 598.48M 568.95M 550.99M 518.29M
Net income 24.94M 11.41M 7.54M 14.08M
Net profit margin 4.17% 2.01% 1.37% 2.72%
Operating income 31.48M 19.33M 18.1M 23.19M
Net change in cash -10.83M 27.97M 1.23M
Cash on hand 68.16M 78.99M 51.02M 49.79M
Cost of revenue 417.58M 400.49M 383.75M 362.76M

Financial data from Tilly's earnings reports

Financial report summary

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Competition
Urban OutfittersHot TopicZumiezCaliforniaForever
Risks
  • 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.
  • We face intense competition in our industry and we may not be able to compete effectively.
  • Our sales could be severely impacted by declines in consumer confidence and decreases in consumer spending.
  • Our continued growth depends upon our ability to successfully open a significant number of new stores and improve the performance of our existing stores and our e-commerce platform.
  • We may continue to experience comparable store sales or sales per square foot declines, which may cause our results of operations to decline.
  • We may not be able to implement our new business strategies, including the implementation of our new suite of technology solutions, on the timelines we anticipate, in a cost-effective manner, or at all.
  • 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.
  • Our sales can significantly fluctuate based upon shopping seasons, which may cause our operating results to fluctuate disproportionately on a quarterly basis.
  • We buy and stock merchandise based upon seasonal weather patterns and therefore unseasonable weather could negatively impact our sales.
  • We depend on cash generated from our operations to support our growth, which could strain our cash flow.
  • Our ability to attract customers to our stores depends significantly on the success of the retail centers where the stores are located.
  • Our e-commerce platform subjects us to numerous risks that could have an adverse effect on our results of operations.
  • 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.
  • 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.
  • 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.
  • 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 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.
  • 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.
  • 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.
  • We rely on print and online marketing services.
  • If our information technology fail 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.
  • War, terrorism, civil unrest or other violence could negatively affect our business.
  • Litigation costs and the outcome of litigation could have a material adverse effect on 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.
  • 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 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 and this 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
  • Net sales were $161.7 million, an increase of $4.3 million or 2.8%, compared to $157.4 million last year. Comparable store net sales, which includes e-commerce net sales, increased 0.6% compared to an increase of 4.4% last year. E-commerce net sales increased 15.7% and represented approximately 14.1% of total net sales compared to an increase of 8.1% and a 12.5% share of total net sales last year. Comparable store net sales in physical stores decreased 1.5% and represented approximately 85.9% of total net sales compared to an increase of 3.8% and an 87.5% share of total net sales last year.
  • Gross profit was $51.7 million, an increase of $1.6 million or 3.2%, compared to $50.1 million last year. Gross margin, or gross profit as a percentage of net sales, was 32.0% compared to 31.8% last year. Product margins were approximately flat as a percentage of net sales. Buying, distribution and occupancy costs improved by approximately 10 basis points in total. Improved leverage of buying and occupancy costs as a percentage of net sales offset by higher e-commerce shipping costs associated with e-commerce net sales growth.
  • SG&A expenses were $39.6 million, or 24.5% of net sales, compared to $37.6 million, or 23.9% of net sales, last year. The components of the SG&A increase, both in terms of percentage of net sales and total dollars, were as follows:
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