US-based action sports retailer Tilly’s Inc. reported higher sales and improved margins in the third quarter, citing a slightly better teen retail environment.
For the 13-week period ended November 1, Tilly’s reported a profit of $5.1 million down from $6.1 million a year earlier. Net sales rose 6% to $131.3 million, topping the $125.2 million estimate by analysts and gross margin improved to 30.9% from 30.6% a year earlier.
While sales at existing stores, a closely watched metric that looks at sales across stores open for at least a year and e-commerce sales, fell 1.2%, the results were better than the company’s projection of a mid-single digit decline.
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