Why Retail Clothing Company Tilly's Shares Are Dropping Today
Portfolio Pulse from Shivani Kumaresan
Tilly's, Inc (NYSE:TLYS) reported a 7.4% decline in holiday sales, with a 9.0% decrease in total comparable net sales. Physical store sales dropped by 12.3%, while e-commerce sales saw a slight increase of 1.6%. The company revised its Q4 FY23 EPS loss forecast to $(0.20) - $(0.24) from $(0.12) - $(0.20) and lowered its Q4 sales outlook to $169 million - $172 million from $172 million - $178 million. Tilly's stock price fell by 2.05% to $7.17.
January 08, 2024 | 3:53 pm
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NEGATIVE IMPACT
Tilly's reported lower holiday sales and reduced Q4 FY23 earnings and sales outlook, leading to a 2.05% drop in its stock price.
The reported decline in holiday sales and the downward revision of the Q4 earnings and sales outlook are likely to negatively impact investor sentiment in the short term, as reflected by the initial drop in stock price. The lack of debt and cash reserves may provide some cushion, but the immediate reaction is negative.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100