Tillys falls to near three-year low on Q1 loss vs year-ago profit

Tillys

02/06/2023 17:19

** Shares of apparel retailer Tillys Inc  TLYS.N  fall as
much as 12.5% to $6.46, a near three-year low
    ** Stock last down 11.8% - set for worst day since March 11,
2022, if current losses hold
    ** Company reported loss in Q1 vs a year-ago profit on
Thursday aftermarket, driven by higher costs
    ** TLYS also posted Q1 net sales of $123.6 mln, from $145.8
mln a year earlier
    ** Brokerage William Blair says it is hopeful for a
turnaround at the company following the hiring of a new chief
merchandising officer a month ago
    ** Inventory from brand partners should also start clearing
up, leading to lower promotions further into the year - William
Blair
    ** Stock has fallen 28.2% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))