NEW YORK (AP) — Shares of Tilly's Inc. sank in after-market trading Wednesday after the specialty retailer issued a disappointing forecast for the new fiscal year, pointing to economic uncertainty and slow customer traffic in February.

Tilly's said sales trends fluctuated in the second half of fiscal 2012, and sales and customer traffic at stores open at least a year were soft in February. It said sales and traffic have improved in March, but the broader state of the economy remains uncertain. Tilly's sells surf-inspired and casual West Coast-styled clothing and accessories at its chain of 168 stores.

Tilly's stock dropped $1.41, or 10.3 percent, to $12.36 in after-hours trading, giving up gains of 3.4 percent during regular trading.

Tilly's said its net income fell 29 percent in the fiscal fourth quarter, which ended Feb. 2, to $9.8 million, or 35 cents per share, from $13.9 million, or 67 cents per share. Excluding one-time items, the Irvine, Calif., company said it earned 32 cents per share. Revenue grew 15 percent, to $140.8 million from $122.9 million.

Analysts projected income of 30 cents per share and $141.1 million in revenue, according to FactSet.

Tilly's said revenue at stores open at least a year, which includes online sales, fell 0.9 percent. Those sales are considered an important measurement of retailer health because they exclude results from stores that have opened or closed in the last year.

Tilly's said fiscal 2012 net income fell 30 percent to $23.9 million, or 92 cents per share, from $34.3 million, or $1.68 per share, in 2011. Revenue rose 17 percent, to $467.3 million from $400.6 million. Sales at locations open at least a year rose 2.2 percent.

The company is calling for net income of $21.5 million to $23 million, or 75 to 81 cents per share, in fiscal 2013. It said sales at locations open at least a year should grow in the low single digits. Analysts were forecasting net income of 95 cents per share, on average, and they estimate growth of 2.3 percent at stores open at least a year.

For the first quarter, Tilly's expects net income of 4 to 7 cents per share with sales at locations open at least a year declining in the low- to mid-single digits. Analysts are estimating income of 14 cents per share on and 0.5-percent growth in sales at locations open at least a year.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel