Tilly’s (TLYS) Q4 2025 earnings summary

Executive summary

• Fourth quarter 2024 net sales declined 14.9% year-over-year to $147.3 million, with comparable net sales down 11.2%.

• Full year net sales decreased 8.6% to $569.5 million, with comparable net sales down 8.0%.

• Net loss for Q4 was $13.7 million ($0.45 per share), improved from a $20.6 million loss last year; full year net loss widened to $46.2 million ($1.54 per share) from $34.5 million.

• Organizational and merchandising changes were made in Q4 to address sales declines and stabilize performance in 2025.

• The company is adapting its brand and assortment mix and expects further changes in fiscal 2025.

Financial highlights

• Q4 gross profit was $38.3 million (26.0% margin), down from $46.7 million (27.0%) last year; full year gross profit was $149.7 million (26.3% margin), down from $165.7 million (26.6%).

• Q4 operating loss was $14.1 million (9.6% of net sales); pre-tax loss was $13.4 million (9.1% of net sales); net loss was $13.7 million.

• SG&A expenses for Q4 were $52.4 million (35.6% of net sales), down $2.8 million year-over-year; full year SG&A was $199.5 million (35.0% of net sales), up $2.9 million.

• Cash, cash equivalents, and marketable securities totaled $47 million at year-end, with $48 million available under the credit facility.

• Inventories increased 9.5% year-over-year at fiscal year-end but were 6.1% lower as of March 1, 2025, versus the prior year.

Outlook and guidance

• Q1 2025 net sales expected between $105 million and $111 million, with comparable store sales down 8% to 3%.

• Q1 SG&A projected at $42–$43 million; pre-tax and net loss expected between $20 million and $17 million.

• Estimated Q1 loss per share between $0.68 and $0.58; cash expected to end Q1 at $25–$30 million with no debt.

• Store count expected to be 238 at Q1 end, down from 246 last year.

• Plans to operate with lower inventories and expects to finalize a credit facility extension through July 2028.