Tilly's Inc. (TLYS) announced that comparable store sales, which include e-commerce sales, for the "Holiday" period ten weeks ended January 5, 2013 decreased 1%, compared to a 5% increase for the "Holiday" period in the prior year ten weeks ended January 7, 2012.
Based on the results for the Holiday period, GAAP net income for the fourth quarter is expected to be in the range of $9.0 million to $9.3 million, or $0.32 to $0.33 per share. The Company's 2012 fourth quarter includes one additional week compared to last year, and 2012 fiscal year is a 53-week year compared to a 52-week fiscal 2011. Adjusted net income in the fourth quarter is expected to be in the range of $8.1 million to $8.4 million, or $0.29 to $0.30 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $0.32 per share for the fourth-quarter. Analysts' estimates typically exclude special items.
Earlier, the company had expected fourth-quarter net earnings of $0.33 to $0.36 per share and adjusted earnings of $0.30 to $0.33 per share.
On a GAAP basis, net income for fiscal year 2012 is now expected to be in the range of $0.89 to $0.90 per share. Adjusted net income, using a 40% adjusted on-going effective tax rate for the full year, is expected to be in the range of $0.87 to $0.88 per share. Analysts expect the company to report earnings of $0.91 per share for fiscal 2012.
Previously, the company estimated net earnings of $0.90 to $0.93 per share and adjusted earnings of 0.88 to $0.91 per share for fiscal 2012.
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