This presentation, and responses to certain questions about this presentation, will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly with regard to future financial and operating expectations, business plans and key initiatives. All such statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward- looking statements. Please see "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission for a description of such risks and uncertainties. We urge you not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. We do not undertake any obligation to update or alter any forward- looking statements, whether as a result of new information, future events or otherwise. This presentation should be read in conjunction with our financial statements and notes thereto contained in our most recent Form 10-K for the fiscal year ended January 29, 2022 and our Form 10-Qs for the fiscal quarters ended April 30, July 30, and October 29, 2022.
at a Glance
Leading specialty retailer of apparel, footwear, accessories and hardgoods for young adults, teens and children (the whole family)
Unparalleled blend of iconic global, emerging, and proprietary brands
249 stores in 33 states at FY22 end (~57% mall vs. ~43% off-mall, 7,300 avg sq ft)
Profitable, growing e-commerce business ~21% of forecasted FY22 net sales vs. 16% pre-pandemic
HQ in Irvine, CA, founded in 1982,
IPO in May 2012
Reasons to Consider
Investing in TLYS
01. Despite highly volatile last three years, strong track record of solid operating results over time with diligent, responsible management
02. Digital-first approach to merchandising driving greater consumer interest overall
03. Ample opportunities for new store unit growth with flexibility in real estate formats
04. Profitable, growing e-com business compared to pre-pandemic years
05. Consistent track record of direct returns to shareholders over past 5 years
06. Ongoing reinvestment in the business to support future growth plans
TLYS Fiscal 2022 Overview
Amid FY22's highly inflationary environment, operating results decreased significantly against record-setting FY21 that was driven by unprecedented government stimulus payments and other pandemic-related factors.
Through December 2022, year-to-date comparable net sales were +3.4% vs pre- pandemic FY19 (stores -4.2%,e-com+43.8%).
Despite operating our stores more efficiently in terms of average hours used, minimum wage increases (particularly in CA) and other wage inflation has driven a 19% increase in average hourly wage rate for store payroll vs pre-pandemic FY19.
Increases in freight, digital marketing and insurance costs, among others, have also negatively impacted earnings.
Beginning in March 2023, year-over-year monthly sales comparisons will get substantially easier, going up against negative double-digit comparable net sales results from FY22.
Potential impact of recession is a near-term concern, which may temporarily negatively impact or delay our growth and profitability plans.
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Tilly's Inc. published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 14:38:09 UTC.
Tilly's, Inc. is a specialty retailer of casual apparel, footwear, accessories, and hardgoods for young men, young women, boys and girls. The Companyâs stores are located in a variety of retail centers, including malls, lifestyle centers, power centers, community centers, outlet centers, and street-front locations. Customers may also shop online, where it features the same assortment of products as is carried in its stores, supplemented by additional online-only styles. The Company operates over 248 stores in 33 states. The Company's third-party brands include adidas, Champion, Dr. Martens, BDG, Converse, Edikted, Billabong, Crocs, Ethika, Birkenstock, Diamond Supply, Free People, Brixton, Dickies, G-Shock, Herschel Supply Co., HUF, Hydro Flask, Jansport, Levi's and others. It supplements its third-party merchandise assortment with its own proprietary brands across many of its product categories. It sells merchandise over the Internet through its e-commerce Website, www.tillys.com.