Shares for Tilly’s Inc. fell 10.6% to $7.25 in after-hours trading after it projected a gloomy outlook for the first quarter.
The Irvine, Calif.-based clothing retailer said its total comparable net sales through March 7, which includes both its brick-and-mortar stores and e-commerce transactions, decreased 20% year over year.
Tilly’s said the weather, particularly in California, where about 40% of its stores are located, adversely affected sales.
Tilly’s estimates that first-quarter net sales will be in the range of $122 million and $133 million, and anticipates a loss per share in the range of 27 cents to 41 cents for the period.
The company’s shares fell although it beat Wall Street estimates for the fourth quarter, reporting $180.4 million in net sales and earnings of $300,000, or 1 cent per share. Analysts expected $179 million in sales and a loss of three cents per share.
