Tilly's tumbles after flagging decrease in Q1 comparable net sales

Tillys

11/03/2022 10:41

** Shares of casual apparel retailer  TLYS.N  down ~26%
premarket and set to open at a one-year low of $9.10 as co flags
a decrease in Q1 2022 comparable net sales
    ** Co expects Q1 net sales to be between $143 mln and $148
mln, which translates to a comparable net sales decrease of 10%
to 13% from a year-ago period  urn:newsml:reuters.com:*:nBw4rcSdCa
    ** Co adds comparable net sales for February increased by a
double-digit percentage, but have been negative through March 6
    ** Says during March 2021, net sales accelerated primarily
because of considerable pent-up demand coming out of 2020's
pandemic-related restrictions and federal stimulus payments
injected into the economy 
    ** Also sees Q1 EPS to be in the range of break-even to 5
cents 
    ** TLYS missed Q4 profit estimates on Thursday after markets
closed but slightly beat Q4 sales estimates  urn:newsml:reuters.com:*:nASA03436
    ** Up to Thursday's close, stock had fallen ~24% this year
after having more than doubled in 2021

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))