Tilly's falls on fourth-quarter sales forecast cut

Tillys

08/01/2024 13:35

** Shares of specialty retailer Tilly's  TLYS.N  fall 5% to
$7 before the bell
    ** Company trims holiday quarter sales due to sluggish
demand for its accessories and apparel
    ** TLYS now expects Q4 net sales to be between $169 mln and
$172 mln compared to prior expectations in the range of $172 mln
to $178 mln
    ** Says nine-week holiday period ended Dec. 30, 2023 net
sales fell 7.4% to $139.7 mln  
    ** CEO Ed Thomas says increased consumer activity over the
Black Friday weekend and in the weeks before and after Christmas
were offset by decrease in consumer activity outside of those
event-driven peaks, painting a softer holiday season overall 
    ** In 2023, TLYS stock fell 16.68%

 (Reporting by Annett Mary Manoj in Bengaluru)
 ((AnnettMary.Manoj@thomsonreuters.com))