Tilly’s reports flat Q1 sales growth

Specialty apparel retailer Tilly’s posted net sales of $120.2 million in the first quarter, a flat rate of growth, compared to sales of $120.1 million reported for the same period last year.

Comparable store sales, including e-commerce sales, decreased 4.1 per cent in Q1 of FY16 at Tilly’s.

Net loss for the quarter was $2.7 million or $0.10 per share as compared to net income of $1.3 million or $0.05 per share in the previous fiscal, ended May 2, 2015.

“Our first quarter results were at the better end of our outlook range before taking a legal provision into account,” Ed Thomas, president and CEO of Tilly’s commented.

“Looking ahead, we expect to launch some important initiatives during the second quarter that we believe will improve the business for the long term, despite the current challenges affecting retail in general,” he added.

The company expects second quarter comparable store sales to be in the range -4 per cent, flat to this quarter.