Tilly’s announced significant sales growth from the last nine weeks during the holiday shopping season. Their total net sales increased 3.3% from last year, bringing in a total of $148.7 million. Comparable net sales for both physical stores and e-commerce also increased 2.7%.
69% of total net sales were made in physical stores for the 2020 holiday season. This is down slightly from last year, however, indicates that most sales are still made from Tilly’s brick-and-mortar locations.
As of Jan. 4, the company had $169 million in cash and no outstanding debt, compared to $166.5 million last year.
“Considering the ongoing, significant impacts and challenges of the COVID-19 pandemic across the country, I am proud of our team’s achievement of a positive overall comp for the 2020 holiday period. To end the 2020 holiday period with as much cash as last year at this time is an amazing result after all that has taken place, which speaks to the quality of execution by our entire team, especially with respect to inventory and expense planning and management, during this most unpredictable year,” said Ed Thomas, Tilly’s President and Chief Executive Officer.
Source: Tilly’s Press Release 1/11/21
Photo Credit: Tilly’s Career Page
Tillys is a leading, destination specialty retailer of casual apparel, footwear and accessories for young men, young women, boys and girls with an extensive selection of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and currently operates 239 total stores, including one RSQ-branded pop-up store and one RSQ Skate store, across 33 states, as well as its website, www.tillys.com.