Tilly's falls as margin warning overshadows upbeat forecast

Tillys

03/09/2021 15:58

** Shares in apparel chain  TLYS.N  fall 4.5% to $15.03
    ** Tilly's expects Q3 gross margin to be below Q2 levels as
it sold more products at full price last year, CFO Mike Henry
said on earnings call after markets closed on Thursday
 urn:newsml:reuters.com:*:nTRN4DZWH
    ** "Guidance errs on the side of caution," Pivotal Research
Group analyst Mitch Kummetz wrote in a note
    ** Tilly's may need to take some actions if the rate of
sales begins to slowdown, Henry said when an analyst asked about
discounts in Q3
    ** Still, TLYS forecast Q3 net sales and profit above
estimates from four analysts polled by Refinitiv, boosted by
strong back-to-school sales  urn:newsml:reuters.com:*:nBwpzRr6a
    ** Shares up 96% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))