Annual online sales increase 21% for apparel retailer Tilly’s
March 29, 2013 09:11 AM
Fourth quarter 2012 and fiscal 2012 e-commerce sales increased by double digits for apparel retailer Tilly’s Inc. which sells West Coast-inspired apparel, shoes and accessories.
For the fiscal year ended Feb. 2, Tilly’s No. 304 in the Internet Retailer Top 500 guide, reported:
- Online sales of $53.0 million, a 21.6% increase from $43.6 million in fiscal 2011.
- Overall sales of $467.3 million, a 16.7% increase from $400.6 million the year prior.
- Comparable-store sales growth of 2.2%.
- Net income of $23.9 million, a 30.3% decrease from $34.3 million in 2011.
E-commerce sales accounted for 11.3% of sales for the year compared with 10.9% in 2011.
“E-commerce remains a critical driver for future sales growth,” Daniel Griesemer, president and CEO, told analysts during a conference call. As a result, Tilly’s is expanding the capacity of a new e-commerce distribution center, doubling the cost of the project to $14 million. It expects the center to open in the fourth quarter.
For the quarter ended Feb. 2, Tilly’s reported:
- Online sales of $19.3 million, a 19.9% increase from $16.1 million in Q4 2011.
- Overall sales of $140.8 million, up 14.5% from $123.0 million in same quarter a year ago.
- Comparable store sales decreased 0.9%.
- Net income of $9.8 million, a 29.5% decrease from $13.9 million.
E-commerce sales accounted for 13.7% of overall Q4 sales, compared with 13.1% in Q4 2011.
Tilly’s attributed the fall in net income for 2012 and the fourth quarter to charges associated with compensation expenses.