Tilly's Sees Q1 2024 EPS $(0.42)-$(0.54) Vs $(0.40) Est.; Revenue $109M-$119M Vs $124.1M Est.
Portfolio Pulse from Benzinga Newsdesk
Tilly's provided a fiscal Q1 2024 outlook with expected EPS of $(0.42)-$(0.54), below the $(0.40) estimate, and revenue forecast of $109M-$119M, under the $124.1M estimate. Comparable net sales decreased by (13.4)% through March 12, 2024, with an anticipated further decrease in net sales of (14)% to (7)%. SG&A expenses are estimated at $42M-$43M, with a pre-tax loss of $(17)M-$(22)M and an income tax rate of 27%. The company expects to have 247 stores by the end of Q1, down from 248.
March 14, 2024 | 8:14 pm
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Tilly's forecasts a lower-than-expected EPS and revenue for fiscal Q1 2024, with a significant decrease in comparable net sales and a slight reduction in store count.
The lower-than-expected EPS and revenue forecast, along with a significant decrease in comparable net sales, indicate potential challenges for Tilly's in the short term. The slight reduction in store count further emphasizes the company's struggles. These factors are likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100