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Tilly’s Q4 net sales increase 3.2 percent

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Tilly’s Q4 net sales increase 3.2 percent
Total net sales at Tilly’s were 177.9 million dollars, an increase of 5.4 million dollars or 3.2 percent, and comparable net sales, including both physical stores and e-commerce, increased by 2.5 percent compared to last year. Net income for the quarter was 8.9 million dollars or 29 cents per diluted share compared to 6.3 million dollars or 21 cents per diluted share, last year.

“Finishing such a challenging year with a positive fourth quarter comp, a significantly stronger e-com business, and improved earnings per share compared to last year’s fourth quarter, along with a strong, debt-free balance sheet was a remarkable accomplishment,” said Ed Thomas, President and Chief Executive Officer.

Highlights of Tilly’s Q4 performance

Net sales from physical stores were 122.5 million dollars, a decrease of 16.7 million dollars or 12 percent, while comparable net sales from physical stores decreased by 12.3 percent. The company ended the quarter with 238 total stores compared to 240 last year.

Net sales from e-commerce were 55.4 million dollars, an increase of 22.1 million dollars or 66.5 percent and represented 31.1 percent of total net sales compared to 19.3 percent of total net sales last year.

Gross profit for the quarter was 58.3 million dollars, an increase of 6.1 million dollars and gross margin or gross profit as a percentage of net sales, was 32.7 percent, an improvement of 250 basis points compared to 30.2 percent last year. Operating income was 14.1 million dollars or 7.9 percent of net sales compared to 8.5 million dollars or 4.9 percent of net sales, last year.

Review of Tilly’s full year results

Total full year net sales were 531.3 million dollars, a decrease of 88 million dollars or 14.2 percent as a result of the various periods of store closures, reduced store operating hours, and restrictions on customer traffic into physical stores resulting from the Covid-19 pandemic. Net sales from physical stores were 357.9 million dollars, a decrease of 162.9 million dollars or 31.3 percent.

Net sales from e-commerce were 173.4 million dollars, an increase of 74.9 million dollars or 76.2 percent and represented 32.6 percent of total net sales compared to 15.9 percent last year.

Gross profit was 142.2 million dollars, a decrease of 44.5 million dollars or 23.8 percent, compared to 186.7 million dollars last year. Gross margin was 26.8 percent, a decrease of 330 basis points as a percentage of net sales, compared to 30.1 percent last year. Operating loss was 3 million dollars or 0.6 percent of net sales, compared to operating income of 28.5 million dollars or 4.6 percent of net sales, last year. Net loss was 1.1 million dollars or 4 cents per basic share, compared to net income of 22.6 million dollars or 76 centsper diluted share, last year.

The company’s total first quarter comparable net sales till March 8, 2021, including both physical stores and e-commerce, were 45.3 million dollars , a decrease of 2.2 million dollars or 4.6 percent, while total comparable net sales decreased in February 2021, but have been positive thus far in March 2021. Comparable net sales from physical stores were 34.5 million dollars, a decrease of 5.3 million dollars or 13.3 percent compared to 39.8 million dollars last year. Net sales from e-commerce were 10.7 million dollars, an increase of 3.1 million dollars or 40.6 percent.

Image:Tilly’s, Facebook

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Womenswear SS22 color trends

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Womenswear SS22 color trends

Colour is key for consumers and SS22 saw fresh palettes that echoed the renewed sense of optimism happening amongst consumers. Soft eco influences, gender-fluid nostalgia and vibrant combinations bursting with positivity sought to reflect broader societal trends whilst still capturing the season’s playful mood.

Trendstop brings FashionUnited readers a first look at the key womenswear colour inspirations emerging on the Spring Summer 2022 catwalks.

Dry Leaf

Dry Leaf sees vintage influences meeting eco outlooks. A beautiful, natural colourway, it illustrates the importance of colour transeasonality. An innovative, emerging yet simultaneously timeless shade of green, Dry Leaf speaks to consumer desire for longevity and versatility and encompasses both feminine and masculine traits. In its merging of seasons and notions of gender, the colour is indicative of the cultural and mindset shifts happening across global society.

Womenswear SS22 color trends

Boyhood Blues

Boyhood Blues, shades often worn by boys in childhood, offer a more playful interpretation on a classic tone, with a touch of nostalgia underpinning the palette. Adopting traditionally boyish tones for womenswear reflects the move towards gender-neutral dressing. As trends begin to move more slowly and transeasonality increases in importance, vibrant spring-like shades transcend the seasons and work equally well into Fall.

Womenswear SS22 color trends

Playful Optimism

A key colour grouping for SS22, playful Optimism with its heightened sense of colour expression reflects the sense of joy entering the market as consumers gain more positive outlooks for the future. Though hues are vivid there is still a high level of curation, intelligence and thoughtfulness put into colour combinations. Although the palette is fun, it is not frivolous, maintaining the artfulness of the designs.

Womenswear SS22 color trends

Exclusive Offer:

FashionUnited readers can get free access to Trendstop’s Spring Summer 2021 Key Colour Directions Report. Simply click the banner to receive your free report.

Womenswear SS22 color trends

Trendstop.com is one of the world’s leading trend forecasting agencies for fashion and creative professionals, renowned for its insightful trend analysis and forecasts. Clients include H&M, Primark, Forever 21, Zalando, Geox, Evisu, Hugo Boss, L’Oreal and MTV.

AUTHOR: AFP

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Video: Sarah Nouri SS22 collection

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Video: Sarah Nouri SS22 collection

In this video, fashion label Sareh Nouri has presented its SS22
collection at New York Bridal Fashion Week (NYFW).

Watch the video below.

Do you want to see more clothing collections? Click here to view the FashionUnited Marketplace.

Video: VRAI Magazine via YouTube

Photo credit: VRAI Magazine, YouTube

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VF posts revenue and earnings growth, raises outlook

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Image: Supreme

Revenue at VF Corporation increased 23 percent or 21 percent in constant dollars to 3.2 billion dollars. Excluding the impact of acquisitions, the company said in a release, revenue increased 19 percent or 17 percent in constant dollars, driven by the EMEA and North American regions, which experienced a negative impact from Covid-19 in the prior year period.

VF’s wholesale business continues to be materially impacted by the timing of shipments due to port delays and logistics challenges.

“While the recovery has been impacted by further pandemic-related disruptions, we continue to see accelerating demand signals across our business, and our ability to reaffirm our fiscal 2022 revenue and earnings outlook is a clear testament to the resiliency and optionality of our model,” said Steve Rendle, VF’s chairman, president and CEO.

VF reports earnings growth in Q2

Gross margin for the quarter increased 290 basis points to 53.7 percent, and on an adjusted basis, gross margin increased 300 basis points, including a 20 basis point positive impact from acquisitions, to 53.9 percent.

Operating income on a reported basis was 558 million dollars and on an adjusted basis, operating income increased 56 percent or 53 percent in constant dollars to 534 million dollars, including an 8 million dollars contribution from acquisitions. Operating margin on a reported basis was 17.5 percent, while adjusted operating margin increased 360 basis points, including a 30 basis point negative impact from acquisitions, to 16.7 percent.

The company added that earnings per share were 1.18 dollars on a reported basis and on an adjusted basis, earnings per share increased 66 percent or 63 percent in constant dollars to 1.11 dollars, including a 2 cents contribution from acquisitions.

VF raises full year outlook, expects 30 percent revenue growth

VF added that for the full year revenue is expected to be approximately 12 billion dollars, reflecting growth of around 30 percent, including an approximate 600 million dollars contribution from the Supreme brand.

By segment, revenue for outdoor is now expected to increase between 25 percent and 27 percent versus the previous expectation of a 24 to 26 percent increase; revenue for active is now expected to increase between 35 percent and 37 percent versus the previous expectation of a 37 to 39 percent increase; revenue for work is now expected to increase between 19 and 21 percent versus the previous expectation of a 16 to 18 percent increase. International revenue is expected to increase between 24 percent and 26 percent.
By geographic region, in the EMEA region, revenue is expected to increase between 30 percent and 32 percent. In the Asia Pacific region, revenue is expected to increase between 12 percent and 14 percent. And, in the Americas (non-U.S.) region, revenue is expected to increase between 30 percent and 32 percent.

Direct-to-consumer revenue is now expected to increase between 34 percent and 36 percent versus the previous expectation of 39 percent and 41 percent, including Digital revenue growth of about 20 percent versus the previous expectation of 29 and 31 percent.

Adjusted gross margin is expected to be around 56 percent, which represents an estimated increase of around 270 basis points. Adjusted operating margin is expected to increase around 500 basis points to around 13 percent. VF further said that adjusted earnings per share is expected to be around 3.20 dollars, including an approximate 25 cents contribution from the Supreme brand.

VF’s board of directors declared a quarterly dividend of 50 cents per share, payable on December 20, 2021, to shareholders of record on December 10, 2021.

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