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Annual online sales increase 21% for apparel retailer Tilly’s

March 29, 2013 09:11 AM
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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.

 

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