Tilly’s has released sales numbers from the holiday shopping season, announcing record earnings and a significant increase in comparable net sales for physical stores.
Holiday Sales Earning Highlights:
Total net sales of $173.3 million increased by 16.5% for the 2021 holiday period compared to $148.7 million for last year’s comparable nine-week holiday period ended January 2, 2021 (the “2020 holiday period”).
Total comparable net sales, including both physical stores and e-commerce, increased by 14.1% for the 2021 holiday period compared to an increase of 2.7% for the 2020 holiday period.
Comparable net sales in physical stores increased by 23.2% for the 2021 holiday period compared to a decrease of 12.4% during the 2020 holiday period. Comparable net sales in physical stores increased by a double-digit percentage in all but one of 14 geographic markets compared to the 2020 holiday period. Net sales in physical stores represented 74.5% of total net sales for the 2021 holiday period compared to 68.4% of total net sales during the 2020 holiday period.
E-commerce net sales decreased by 5.7% for the 2021 holiday period compared to an increase of 65.2% during the 2020 holiday period. E-commerce net sales represented 25.5% of total net sales for the 2021 holiday period compared to 31.6% of total net sales during the 2020 holiday period.
The Company believes these results were driven by favorable market conditions, a compelling merchandise assortment, and a shift in our customers’ preference for shopping in physical stores over e-commerce compared to last year’s holiday period.
As of January 3, 2022, the Company had $188.9 million of cash and marketable securities and no debt outstanding after paying an aggregate of $61.6 million in special cash dividends to shareholders in July and December 2021
“Based on our strong 2021 holiday period results, we expect to report our most profitable fourth quarter since becoming a public company and our most profitable full fiscal year on record,” said Ed Thomas, President and Chief Executive Officer. “We believe these results were driven by favorable market conditions and a compelling merchandise assortment. I want to thank our entire team of store, distribution center, and corporate office associates for all of their hard work and dedication in producing these impressive results.”
Source: Tilly’s – Press Release
Photo Credit: Tilly’s