Tilly’s doubles profit in Q1

Irvine, Calif. – A lower tax rate and slowed growth in cost of sales and selling, general and administrative (SG&A) expenses helped Tilly’s Inc. more than double net income to $1.3 million in the first quarter of fiscal 2015, compared to $600,000 the same quarter a year earlier.



Total net sales were $120.2 million, an increase of 8% compared to $111.1 million. Same-store sales rose 2%.



“Our first quarter results illustrate continued progress on our initiatives to increase sales and profitability, as we delivered positive comparable store sales and solid earnings growth over the prior year period,” said Daniel Griesemer, president and CEO. “We expanded our gross profit and ended the quarter with inventory well positioned for the summer and back-to-school seasons.”



Tilly’s expects second quarter same-store sales to be in the range of a decline of 2% to an increase of 2%.