Tilly’s has started the fiscal year on a stronger footing, reporting higher sales across its stores and e-commerce business.
The apparel company posted net sales of $124.7 million for the first quarter ended May 2, up 15.9 per cent from a year earlier. Comparable net sales across stores and e-commerce increased 22.9 per cent.
Store sales rose 12.1 per cent to $96.3 million during the quarter, despite Tilly’s operating fewer locations than a year ago.
E-commerce continued to outpace brick-and-mortar, with online sales increasing 30.9 per cent to $28.4 million. Online sales accounted for 22.8 per cent of total net sales, compared with 20.2 per cent a year earlier.
While physical stores remained the company’s largest sales channel, representing 77.2 per cent of total revenue, the retailer suggests shoppers are increasingly engaging with the brand across both channels.
The company ended the quarter with 220 stores, down from 238 stores in the same period last year.
Looking ahead, president and CEO Nate Smith said returning the business to profitability remains the company’s primary objective.
“We believe the strength of our start to the fiscal year gives us a clear and credible path to get there, provided we can maintain a strong, positive sales trajectory throughout.”
Tilly’s expects to have 221 stores open at the end of the second quarter.