Tillys (TLYS) Fiscal Q2 2026 Earnings Call: Comparable Sales Rise 12.1%
Source Tradingkey
Key Takeaways
- Fiscal Q2 2026 net sales increased 8.1% year over year to $163.5 million, while comparable net sales rose 12.1%, marking a third consecutive quarter of double-digit comparable growth.
- Gross margin expanded 300 basis points to 35.5%. Product margin improved 140 basis points, supported by stronger full-price selling, fresher inventory and better clearance productivity.
- Net income increased to $8.4 million, or $0.27 per diluted share, from $3.2 million, or $0.10 per share. This was Tillys’ fifth consecutive quarter of year-over-year profit improvement.
- E-commerce sales grew 20.9% and accounted for 21.1% of quarterly net sales. Physical-store sales rose 5.1% despite Tillys operating 12 fewer stores than a year earlier.
- Comparable sales increased 14.6% in fiscal August. Management guided fiscal Q3 2026 net sales to $150 million-$155 million, implying comparable growth of 10%-14%.
- Tillys ended the quarter debt-free, with $62.2 million in cash and investments. Inventory declined 1.3% even as sales increased, and the inventory mix was more current than a year earlier.
Core Financial Data
| Metric | Fiscal Q2 2026 | Year-over-year comparison |
|---|---|---|
| Net sales | $163.5 million | +8.1% |
| Comparable net sales | — | +12.1% |
| Physical-store net sales | 78.9% of total sales | +5.1% |
| E-commerce net sales | 21.1% of total sales | +20.9% |
| Gross margin | 35.5% | +300 basis points |
| Product margin | — | +140 basis points |
| SG&A | $49.9 million, or 30.5% of sales | 30.7% of sales a year earlier |
| Pre-tax income | $8.5 million | $3.1 million a year earlier |
| Net income | $8.4 million | $3.2 million a year earlier |
| Diluted EPS | $0.27 | $0.10 a year earlier |
| Cash and investments | $62.2 million | +$11.5 million |
| Inventory | — | -1.3% |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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