ACMA has made the difficult decision to cancel our in-person Forum for 2020 altogether. Instead, we will hold a virtual event culminating in a virtual fly-in with lawmakers in September. The Zoom-based event will run for two 45-minute sessions, first starting at 1:00 pm (EDT), then following a short break, the second one at 2:00 pm each Wednesday of the month – September 9th, 16th, and 23rd - for a total of six separate sessions. Then the fly-in will take place all day on September 30th on a rotating schedule to be announced. What To Expect...You can expect us to focus on the many moving policy issues that have direct bearing on catalog/online/DM interests: among them, postal affairs, sales tax developments, privacy law, trade and tariffs, and extra-jurisdictional (foreign) regulation. A full agenda and registration details will be made available shortly. In the meantime, we wanted to ask you to reserve these times on your schedule. Both member and non-member companies are invited to attend. Our generous sponsors have made this event possible in order to ensure that all of our attendees can be brought up to speed on the important work of the ACMA, so there will be no registration fee, although tax deductible (to 80%) donations are gratefully accepted.
Tilly’s, Inc. (NYSE: TLYS, the “Company”) today announced comparable store net sales results for the nine-week period ended January 4, 2020 (the “holiday period”), and provided updates on its fiscal 2019 fourth quarter earnings outlook in advance of its attendance at the annual ICR Conference in Orlando, Florida on January 13-14, 2020.
“Following a strong Black Friday weekend and Cyber Monday, our business experienced an unexpected deceleration in net sales and store traffic during the second and third weeks of December, resulting in a disappointing 2019 holiday season overall,” commented Ed Thomas, President and Chief Executive Officer.
• Total net sales of $143.9 million increased by 1.1% for the holiday period compared to $142.4 million for last year’s comparable nine-week holiday period ended January 5, 2019.
• Comparable store net sales, including e-commerce, decreased by 2.0% for the holiday period compared to an increase of 5.8% for last year’s holiday period. ◦ Comparable store net sales in physical stores decreased by 2.7% for the holiday period compared to a decrease of 0.7% during last year’s holiday period. Net sales in physical stores represented approximately 80.5% of total net sales for the holiday period, consistent with last year’s holiday period.
◦ E-commerce net sales increased by 1.0% for the holiday period compared to an increase of 42.8% during last year’s holiday period. E-commerce net sales represented approximately 19.5% of total net sales for the holiday period, consistent with last year’s holiday period.
• The Company’s comparable store net sales results for the 2019 holiday period decreased in most of the Company’s major geographic markets, with the exception of New England, the Upper Midwest, and Arizona. Comparable store net sales were weakest in the Southeast, Florida and Nevada. In terms of merchandising, comparable store net sales of Girls and Womens were positive but this was more than offset by declines in all other merchandising departments, particularly Footwear and Accessories.
• Based on its operating results during the holiday period and historical trends, the Company now expects its fiscal 2019 fourth quarter comparable store net sales to decrease by 2% to 3% and earnings per diluted share to be approximately $0.18 to $0.20. This outlook assumes an effective tax rate of approximately 31%, including certain discrete items relating to stock option expirations, and weighted average diluted shares of approximately 29.9 million based on the latest available information.