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Article Date: August 2017
Word Count: 355

Tilly’s Has Loss on Legal Charge, but Business is Good

A $6.2 million accrual for a legal settlement turned TLYS’ otherwise solid second quarter red with a net loss of $596,000 against income of $1,433,000 as sales climbed 2% to $138,810,000 from $136,412,000 and comps increased 2.1%. The bottom line would have more than doubled to $3,123,000, net of tax, without the accrual that was to resolve a class action suit alleging violations of the Telephone Consumer Protection Act. Gross margin expanded 100 basis points to 29.5% with product margins up 60 b.p. from reduced markdowns and 40 b.p. of buying, distribution and occupancy leverage. SG&A, excluding the accrual, was ... Log in to view full article.


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