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News Breaks
May 29, 2014
11:37 EDTZUMZ, PSUN, TLYSTilly's declines after revenue, profit outlook miss estimates
Shares of West Coast apparel, footwear and accessory retailer Tilly's (TLYS) are falling after the company reported a decline in its first quarter same-store sales and lower than expected earnings guidance for the new quarter. WHAT'S NEW: Tilly's reported Q1 earnings per share of 2c, which matched analysts' consensus prediction. The company's revenue for the quarter amounted to $111.1M, which missed expectations of $113.22M. Same-store-sale for the retailer in the quarter were down 6.8%. Tilly's also noted that it expects second quarter earnings per share of 3c-7c, while analysts had guided to 13c per share. Tilly's said that it foresees second quarter same-store sales to be down in the high single digits. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Tilly's said that it is starting the second quarter with inventory "well positioned" at down 4.5% on a per square foot basis. The company said that it is planning inventory per square foot to be down slightly by the end of Q2 compared to the same period last year. The retailer is on track to open at least 18 new stores during the rest of the year and it is on track with its outlet plans as well, it noted. Tilly's said that during the first quarter, the harsh winter weather that other retailers experienced was not a "meaningful influencer" for them, explaining that it has a large concentration of stores that were not adversely affected by the weather. OTHERS TO WATCH: Competitors to Tilly's include Pacific Sunwear (PSUN) and Zumiez (ZUMZ). PRICE ACTION: During late-morning trading, shares of Tilly's fell $1.76 or 16.6%, to $8.82. Over the last year, the stock has dropped about 47%.
News For TLYS;PSUN;ZUMZ From The Last 14 Days
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June 23, 2015
10:00 EDTZUMZOn The Fly: Analyst Upgrade Summary
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07:05 EDTZUMZZumiez upgraded to Buy from Neutral at B. Riley
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June 22, 2015
09:34 EDTZUMZZumiez discloses approval of repurchase of up to $50M of common stock
In a regulatory filing, Zumiez disclosed that effective June 22, 2015, the board has approved the repurchase of up to an aggregate of $50M of its common stock. The new repurchase program is expected to continue through the fiscal year 2015 that will end on January 30, 2016, unless the time period is extended or shortened by the Board of Directors.

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