Tilly’s Inc. upgraded its guidance for the fourth quarter, when it said same-store sales, including Internet sales, grew for the first time since the first quarter of 2012.
The action sports retailer now expects fourth quarter comparable store sales to increase 1.0 percent to 3.0 percent and net income per diluted share to reach 21 to 23 cents a share, up from the previously issued comparable store sales guidance of flat to negative low- single digits and net income per diluted share of 15 to 19 cents. TLYS same-store sales declined 4.9 percent in the fourth quarter of 2013.
“Strength in the peak selling days drove comparable store sales ahead of our expectations,” said President and CEO Daniel Griesemer. “We maintained healthy product margins and effectively managed our inventory to exit this period as planned.”
In a presentation at the ICR XChange Tuesday, Griesemer said a slight improvement in the challenging teen retail environment carried over into the key holiday selling period. He called out men's flannel as performing particularly well. TLYS' same-store sales declined 1.2 percent in the third quarter, 7.1 percent in the second quarter and 6.8 percent in the first quarter.
