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Tilly’s News: TLYS Stock Tanks 22% on Holiday Sales Update

TLYS also updated its Q4 outlook

Tilly’s (NYSE:TLYS) news for Monday includes a poor performance from the retail chain during the holiday period.

Tilly's News: TLYS Stock Tanks 22% on Holiday Sales Update
Source: David Tonelson/Shutterstock.com

According to a Tilly’s news release, the company saw its net sales for the nine weeks period ending Jan 4, 2020, come in at $143.90 million. That’s only 1.10% higher than the $142.40 million from the same time last year.

When it comes to comparable sales for the holiday period, Tilly’s was down 2%. That’s especially bad when compared to the growth of 5.8% that it saw last year from the period before. While e-commerce sales were up by 1%, the company’s physical store sales dropped 2.70% during the holidays.

Ed Thomas, President and Chief Executive Officer of Tilly’s, says this about the negative TLYS stock news.

“Following a strong Black Friday weekend and Cyber Monday, our business experienced an unexpected deceleration in net sales and store traffic during the second and third weeks of December, resulting in a disappointing 2019 holiday season overall.”

The Tilly’s news release also includes an update to the company’s outlook for the fourth quarter of 2019. It now expects earnings per share for the quarter to range from 18 cents to 20 cents. This will have it missing Wall Street’s per-share earnings estimate of 30 cents for the fourth quarter of the year.

Tilly’s also notes that it now expects comparable sales for the fourth quarter of 2019 to be down between 2% and 3% from the same period of the year prior.

TLYS stock was down 22.44% as of Monday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/01/tillys-news-tlys-stock-tanks-22-on-holiday-sales-update/.

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