Tilly's, Inc. the Southern California-based action sports retailer is undergoing an initial public offering, reported that net sales for the fiscal second quarter increased 24.6 percent to $87.3 million. Comp store sales were up 15.2 percent for the 13-week period ended July 30 versus a 3.6 percent decrease in the prior-year period.
Net sales, including shipping and handling fees, from the retailer's ecommerce store increased 33.0 percent to $8.1 million in the fiscal second quarter. E-commerce sales, excluding the shipping and handling fees, are included in the comp store sales computation. In an amended S-1/A filing the 131-store chain said that comparable store net sales increase reflected the “general improvement in the economy, and stemmed mostly from increased net sales of accessories and guys' apparel and, to a lesser extent, footwear and juniors' and girls' apparel.”
The filing went on to say the “increases were partially offset by lower net sales of boys' apparel.”
There were 116 comparable brick-and-mortar stores and 15 non-comparable brick-and-mortar stores open at July 30.
Fiscal second quarter net income surged 481 percent to $3.5 million
versus the year-ago quarter.
