Tilly's, Inc.
- Open
- 4.03
- Day high
- 4.50
- Day low
- 4.00
- Prev close
- 3.89
- Volume
- 511K
- Mkt cap
- $131M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.7
- P/S
- 0.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$59K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Tilly's, Inc. (TLYS) is a Consumer Cyclical company listed on NYSE. The stock is up 158% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Tilly's, Inc. (TLYS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TLYS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 3, 2026 | $-0.33 | $-0.26 | +21.2% | $125M | +2.8% |
| Mar 11, 2026 | $-0.15 | $0.10 | +166.7% | $155M | +45.7% |
| Dec 3, 2025 | $-0.30 | $-0.05 | +83.3% | $140M | -6.1% |
| Sep 3, 2025 | $-0.04 | $0.10 | +350.0% | $151M | +10.5% |
| Jun 4, 2025 | $-0.66 | $-0.74 | -12.1% | $108M | -26.9% |
| Mar 12, 2025 | $-0.28 | $-0.45 | -60.7% | $147M | +23.4% |
| Dec 5, 2024 | $-0.37 | $-0.43 | -16.2% | $143M | -10.3% |
| Sep 5, 2024 | $-0.08 | $-0.00 | +97.1% | $163M | -0.6% |
| Jun 6, 2024 | $-0.46 | $-0.48 | -4.3% | $116M | +0.2% |
| Mar 14, 2024 | $-0.22 | $-0.17 | +22.7% | $173M | +0.8% |
| Nov 30, 2023 | $-0.07 | $-0.03 | +57.1% | $166M | -4.8% |
| Aug 31, 2023 | $-0.21 | $-0.04 | +81.0% | $160M | +6.0% |
TLYS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 11, 2026 | Cingolani Michael Josephofficer: Chief Merchandising Officer | Sell | 11,250 | $5.27 |
| Jun 10, 2026 | Relich Michaeldirector | Grant | 15,444 | — |
| Jun 10, 2026 | KERR JANETdirector | Grant | 15,444 | — |
| Jun 10, 2026 | Aragones Teresa Lunadirector | Grant | 15,444 | — |
| Jun 10, 2026 | Collier Douglas Pdirector | Grant | 15,444 | — |
| Jun 10, 2026 | JOHNSON SETH Rdirector | Grant | 15,444 | — |
| Apr 1, 2026 | Henry Michaelofficer: CFO | Grant | 40,000 | $4.20 |
| Apr 1, 2026 | SHAKED HEZYdirector, 10 percent owner, officer: See Remarks | Grant | 40,000 | $4.20 |
| Apr 1, 2026 | Cingolani Michael Josephofficer: See Remarks | Grant | 40,000 | $4.20 |
| Mar 24, 2026 | Shay Capital LLC10 percent owner | Sell | 20,000 | $3.70 |
| Mar 16, 2026 | Shay Capital LLC10 percent owner | Sell | 1,025,000 | $2.55 |
| Mar 2, 2026 | Smith Nathan Michaeldirector, officer: See Remarks | Grant | 900,000 | $1.99 |
| Sep 17, 2025 | Smith Nathan Michaeldirector, officer: See Remarks | Grant | 900,000 | $1.99 |
| Aug 12, 2025 | Shay Capital LLC10 percent owner | Buy | 35,000 | $1.42 |
| Aug 12, 2025 | Shay Capital LLC10 percent owner | Buy | 25,000 | $1.29 |
Source: TLYS SEC Form 4 filings, latest Jun 11, 2026. For informational purposes only — not investment advice.
See the full TLYS insider & 13F page →Tilly's, Inc. company profile
Overview
Tilly's, Inc. (NASDAQ:TLYS) is a California-based specialty retailer that has been serving the youth lifestyle market since 1982. Founded as a single surf shop, the company went public in 2012 and has grown to operate 240 stores across the United States. Tilly's targets teenagers and young adults with a curated selection of casual apparel, footwear, accessories, and lifestyle products that reflect action sports and youth culture. The company is currently experiencing significant operational challenges, including declining sales, negative profitability, and the need for strategic restructuring to adapt to changing consumer preferences and market conditions.
Business
Tilly's operates as a specialty retailer in the youth lifestyle and action sports apparel market. The company's core business revolves around selling casual clothing, footwear, accessories, and hardgoods to teenagers and young adults aged approximately 12-24 years old. The retail apparel industry, particularly the youth segment, is highly competitive and trend-driven. Young consumers are known for their rapidly changing fashion preferences, brand loyalty shifts, and increasing digital engagement. This demographic is particularly sensitive to economic pressures and has been significantly impacted by inflation and changing spending patterns in recent years. Tilly's product portfolio includes several key categories. Apparel represents the largest segment, featuring tops, outerwear, bottoms, and dresses from both third-party brands and private label offerings. Footwear includes sneakers, sandals, and boots from popular youth-oriented brands. Accessories encompass backpacks, hydration bottles, hats, sunglasses, small electronics, handbags, watches, and jewelry. Hardgoods consist of action sports equipment including skateboards, longboards, bikes, roller-skates, and equipment for snowboarding and surfing. The company operates through two primary channels: 1. **Physical retail stores** account for approximately 74-81% of total sales, with 240 locations primarily in strip centers and malls across the United States. 2. **E-commerce platform** through tillys.com represents roughly 19-27% of sales, providing nationwide reach and serving as both a sales channel and brand engagement platform. Tilly's also carries a mix of third-party branded merchandise from established youth and action sports brands, alongside their proprietary brands including "Rescue," which has shown particular strength in recent periods.
Revenue model
Tilly's generates revenue primarily through direct product sales to consumers via both physical stores and e-commerce channels. The company operates on a traditional retail markup model, purchasing merchandise from suppliers and selling it at retail prices that typically provide gross margins in the 21-31% range. The company's customers are primarily teenagers and young adults who purchase items for personal use, making this a direct-to-consumer (B2C) business model. Revenue is generated through individual transactions rather than subscriptions or recurring fees, making sales volume and average transaction value critical metrics. Several factors significantly impact Tilly's profit margins and overall financial performance. Labor costs have increased substantially, with store payroll costs rising 32% since 2019 due to minimum wage increases across various states. Macroeconomic conditions heavily influence the business, as the target demographic is particularly sensitive to economic pressures, inflation, and reduced discretionary spending. Consumer behavior shifts post-pandemic have altered shopping patterns, with customers showing different preferences for brands, styles, and shopping channels. Inventory management represents both a challenge and opportunity for margin improvement. The company has struggled with inventory alignment, leading to increased markdowns and promotional activity that compress margins. Real estate costs for physical stores create significant fixed expenses that must be leveraged through sufficient sales volume. Competitive pressures from both traditional retailers and online-native brands force the company to balance competitive pricing with margin preservation. The company's ability to improve margins depends on successfully implementing merchandising changes, optimizing inventory levels, negotiating better supplier terms, and driving increased sales to leverage fixed costs. Recent initiatives include new merchandise planning tools, markdown optimization software, and strategic brand partnerships aimed at improving both traffic and margins.
Competitive moat
Tilly's operates in a highly competitive retail environment with limited sustainable competitive advantages. The company's primary strengths lie in its established physical presence in youth-oriented retail locations and its understanding of action sports and youth culture, but these advantages are not particularly defensible. The company's store locations in strip centers and malls provide some local market presence, but these locations are not unique and can be replicated by competitors. Brand relationships with action sports and youth lifestyle brands offer some value, but these relationships are typically non-exclusive and can be pursued by other retailers. Customer loyalty in the youth retail segment is notoriously weak, with young consumers frequently switching between brands and retailers based on trends, pricing, and social influence. Tilly's lacks significant proprietary brands or unique product offerings that would create meaningful differentiation. The company faces substantial competitive threats from multiple directions. Large-scale retailers like Target, Walmart, and department stores offer similar merchandise often at lower prices with greater convenience. Online-native brands and direct-to-consumer companies can offer more competitive pricing by eliminating retail markup. Fast fashion retailers like H&M, Forever 21, and Shein provide trendy alternatives at lower price points. Specialty athletic and lifestyle retailers like Zumiez, PacSun, and others compete directly for the same customer base. The company's moat is weak and continues to erode. The business model relies heavily on execution rather than structural advantages, making it vulnerable to operational missteps, economic downturns, and shifts in consumer behavior. The recent performance decline suggests that whatever competitive positioning the company previously enjoyed has been significantly compromised.
Risks & safety
Tilly's presents significant financial risk with a very narrow margin of safety. **Overall Assessment**: High financial risk with deteriorating fundamentals and limited financial cushion. **Cash and Liquidity**: - Cash position: $21.1 million (down from $47.0 million in FY 2023) - Negative free cash flow: -$50.2 million for FY 2024 - Negative operating cash flow: -$42.0 million for FY 2024 - Current ratio: 1.32 (adequate but declining) - Quick ratio: 0.62 (concerning liquidity position) **Debt and Solvency**: - Debt-to-equity ratio: 1.92 (high leverage) - Total liabilities: $241.6 million vs. total assets: $342.5 million - Net worth: $100.9 million (declining) - Company expects to operate without accessing credit facility, but limited financial flexibility **Valuation Metrics**: - Trading at 1.29x book value - Negative earnings make P/E ratio meaningless - Negative EBITDA of -$37.1 million - Enterprise value reflects distressed valuation **Other Considerations**: - Declining sales trajectory over multiple years - Ongoing store closure program indicates structural challenges - Management acknowledges need for significant expense reductions - Limited ability to weather extended downturn or economic shock
Recent development
Over the past few years, Tilly's has undergone significant strategic shifts in response to persistent operational challenges and declining performance. The company has made substantial changes to its merchandising organization, restructuring the team and adapting brand and assortment mixes to better align with customer preferences and improve sales performance. Technology investments have been a key focus, with the company implementing new merchandise planning and allocation tools, warehouse management software, and plans for markdown optimization software and improved search engine optimization. These systems are designed to enhance inventory management, reduce markdowns, and improve operational efficiency. The company has launched its first-ever comprehensive brand campaign called "Discover Your Style," emphasizing personal style, confidence, and mental wellness. This represents a significant shift toward more cohesive brand messaging and customer engagement, supported by expanded social media presence and micro-influencer partnerships. Store portfolio optimization has become a critical initiative, with management planning to close more unprofitable stores than they open. The company ended FY 2024 with 240 stores (net decrease of 8) and plans to close at least 7 more stores in FY 2025 while selectively opening only 2 new locations in high-potential markets. Inventory management has been restructured with reduced inventory commitments and a focus on improving product margins. Management is reassessing inventory needs by product category and implementing more disciplined buying practices to reduce markdowns and improve cash flow. The company has also explored new partnership opportunities, including collaborations with NASCAR and sponsorship deals with professional sports teams like the Los Angeles Chargers, aimed at expanding brand awareness and reaching new customer segments.
TLYS company profile · for informational purposes only — not investment advice.
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