IRVINE, Calif. - Tilly’s, Inc. (NYSE: TLYS) announced Wednesday that Hezy Shaked, the company's co-founder and Executive Chairman of the Board, has been appointed as President and Chief Executive Officer effective September 11, 2024. Shaked, who has a long-standing history with the company, expressed his commitment to improving the business operations and performance.
Shaked has been serving as the Interim President and CEO since January 21, 2024, and has previously held the position of President and CEO earlier in the company's history. During his interim tenure, he has been actively involved in reviewing the company's strategies and operations. His appointment is seen as a strategic move, leveraging his extensive experience and intimate knowledge of the company he co-founded 42 years ago.
Tilly’s, a specialty retailer known for its casual apparel, footwear, accessories, and hardgoods, operates 247 stores across 33 states and maintains a robust online presence through its website. The company is headquartered in Irvine, California, and caters to a young demographic with a product mix that includes a variety of global and emerging brands.
The press release also contained forward-looking statements, cautioning that various risks and uncertainties could affect the company's future results. These include potential impacts from inflation and recession on consumer behavior and the company's operations, supply chain challenges, and the ability to manage inventory levels effectively. The statements are in line with the Private Securities Litigation Reform Act of 1995 and reflect management's expectations and beliefs about future events.
This announcement is based on a press release statement from Tilly’s, Inc. and is intended to provide investors with the latest leadership developments within the company. It should be read in conjunction with Tilly's (NYSE:TLYS) financial statements and notes contained in their Form 10-K, which are publicly available on the SEC's website.
In other recent news, Tilly’s Inc. reported a breakeven earnings per share (EPS) for its fiscal 2024 second quarter, surpassing their outlook range despite a challenging macroeconomic environment. The company also saw a slight net sales increase of 1.8% compared to the previous year, reaching $162.9 million. However, Tilly's reported decreased comparable net sales by 7.8%. On the operational front, Tilly's launched a new brand marketing strategy aimed at redefining its purpose to its target customers.
In terms of future expectations, the company anticipates a slowing sales trend in September and October, with third-quarter net sales expected to fall between $140 million to $146 million. Tilly's also predicts a third-quarter pre-tax and net loss ranging from $11.6 million to $8.7 million. Despite these challenges, Tilly's is implementing changes such as new systems and product collaborations to improve business outcomes. These are the recent developments from Tilly's Inc. as the company navigates through the current consumer environment.
InvestingPro Insights
As Tilly’s, Inc. (NYSE: TLYS) ushers in a new era of leadership with Hezy Shaked at the helm, investors are closely monitoring the company's financial health and market performance. Recent data from InvestingPro reveals key metrics that could influence the company’s trajectory under Shaked's renewed leadership.
With a market capitalization of $145.33 million, Tilly’s operates in a highly competitive retail landscape. The company's price-to-earnings (P/E) ratio stands at -3.53, reflecting challenges in profitability, a sentiment echoed by analysts who do not expect Tilly’s to be profitable this year. Furthermore, the company's revenue has experienced a decline of 3.67% over the last twelve months as of Q2 2025, indicating potential headwinds in sales growth.
InvestingPro Tips suggest that Tilly’s operates with a significant debt burden and is quickly burning through cash, which could impact its operational stability. Additionally, the stock has shown high price volatility, which may concern investors looking for steady returns. Over the last six months, the stock has taken a substantial hit, declining by 34.08%, and Tilly’s does not currently pay a dividend to shareholders, which could be a factor for income-focused investors to consider.
Interested readers can find over eight additional InvestingPro Tips for Tilly’s at https://www.investing.com/pro/TLYS, providing deeper insights into the company's financial outlook and stock performance.
As Tilly’s navigates the retail environment with its new CEO, these financial metrics and insights from InvestingPro will be crucial for investors to watch. Shaked's leadership and strategic decisions will likely play a significant role in addressing these challenges and setting the course for Tilly’s future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.