)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Tilly’s (TLYS) investor relations material
Tilly’s Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary3 Dec, 2025
Executive summary
Achieved first positive quarterly comparable net sales since Q4 2021, with positive comps in every month and week of Q3 2025, and momentum continuing into Q4.
Operated 230 stores in 33 states as of November 1, 2025, down from 246 a year ago, with e-commerce representing 21% of Q3 net sales.
Persistent inflation, higher labor costs, and economic uncertainty continue to impact consumer spending and operating results.
Strategic focus on merchandise assortment, inventory planning, marketing, and expense management credited for recent improvements.
Expect to close 21 stores in fiscal 2025, with 14 already closed and 7 more planned for Q4.
Financial highlights
Q3 2025 net sales were $139.6M, down 2.7% year-over-year; comparable net sales rose 2.0%, with physical stores up 5.3% and e-commerce down 9%.
Gross margin improved to 30.5% of net sales (up from 25.9%), driven by higher initial markups and lower markdowns.
SG&A expenses reduced to $44.5M (31.9% of net sales), down from $51.3M (35.7%) last year.
Pre-tax loss improved to $1.4M (1% of net sales) from $12.9M (9% of net sales) last year; operating loss narrowed to $1.9M from $14.1M.
Net loss improved to $1.4M ($0.05/share) from $12.9M ($0.43/share) last year.
Ended Q3 with $100.7M in liquidity, including $39M in cash and $61.6M in unused borrowing capacity.
Net inventories decreased by 12.8% year-over-year; year-to-date capital expenditures were $3.4M, down from $6.7M last year.
Outlook and guidance
Q4 2025 comparable net sales expected to increase 4%-8% year-over-year, with total net sales projected at $146M–$151M.
Anticipates product margin improvement of 300–350 bps versus last year; SG&A expected at $50M–$51M.
Pre-tax and net loss forecasted at $5.6M–$3.5M, with loss per share of $0.19–$0.12, compared to $0.45 last year.
Fiscal year-end store count expected at 223, down from 240 last year, with 7 more closures planned in Q4.
Effective income tax rate expected near zero due to full valuation allowance on deferred tax assets.
Timeline for AI merchandise replenishment tool
Long-term proprietary brand penetration target
Number of stores in active lease renegotiation
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Tilly’s earnings date
Q4 202611 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Tilly's, Inc. operates as a specialty retailer of casual apparel, footwear, accessories, and hardgoods for young men and women, and boys and girls in the United States. It offers T-shirts, tanks, shirts, jackets, shorts, pants during spring season; hoodies/sweatshirts and windbreakers in winter; swimwear in summer; triples/double/singles plaids during back to school season; denim jeans and knits primarily in spring season; graphic tees/flannels/cords from fall though holiday seasons; crew necks/hoodies/sweatshirts in winter season; burnout tees with contrast logo graphics for spring time; cargo shorts for summer time; pineapples sweatshirts/dolphin shorts for fall time; thermals for winter time; overall dresses in spring and summer seasons.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage