Latest news with #MichaelHenry
Yahoo
4 days ago
- Business
- Yahoo
TLYS Q1 Earnings Call: Store Closures and Marketing Efforts Amid Ongoing Sales Decline
Young adult apparel retailer Tilly's (NYSE:TLYS) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 7.1% year on year to $107.6 million. Its GAAP loss of $0.74 per share decreased from -$0.65 in the same quarter last year. Is now the time to buy TLYS? Find out in our full research report (it's free). Revenue: $107.6 million (7.1% year-on-year decline) Revenue Guidance for Q2 CY2025 is $154 million at the midpoint, above analyst estimates of $147.2 million Operating Margin: -21.1%, down from -16.5% in the same quarter last year Locations: 238 at quarter end, down from 246 in the same quarter last year Same-Store Sales fell 7.1% year on year (-8.6% in the same quarter last year) Market Capitalization: $39.2 million Tilly's management attributed first quarter results to continued softness in store traffic and overall sales, despite some sequential improvement compared to prior periods. Executive Vice President and CFO Michael Henry noted that while comparable net sales were down 7%, this was better than the 11.2% decline in the previous quarter, suggesting potential stabilization. Management pointed to improvements in merchandise assortment and increased marketing efforts, such as the launch of Tilly's TikTok shop and high-profile in-store events, as contributing to this relative outperformance. CEO Hezy Shaked commented that the company has seen consistent traffic gains in recent weeks, particularly in the junior segment, but cautioned that more work is needed to sustain these trends. Looking forward, Tilly's is focused on capitalizing on the upcoming back-to-school season and maintaining progress in merchandise and customer engagement. Management believes that product selection is increasingly resonating with younger consumers and expects further benefit from recent marketing initiatives. CFO Michael Henry highlighted that May sales trends have improved to a 2.2% decline, and the company anticipates that the peak sales period in late July could drive stronger results. While tariff exposure remains a risk, current assessments suggest minimal impact on product margins for the remainder of the year. CEO Hezy Shaked expressed cautious optimism for the next six months, emphasizing ongoing efforts to improve both inventory positioning and in-store experience. Management identified improved merchandise assortment, digital engagement, and event-driven marketing as key factors behind the quarter's sequential sales improvement, while also acknowledging ongoing pressures from store closures and external uncertainties. Merchandise Assortment Progress: Management reported that recent changes to product mix, particularly in the junior category, have led to better sales performance and customer response. CEO Hezy Shaked noted that merchandise is 'looking better' and 'selling better,' attributing recent traffic improvements to these adjustments. Digital Engagement Expansion: The introduction of the Tilly's TikTok shop in March has provided a new e-commerce channel, which the company claims began outperforming Amazon orders by mid-April. Management sees this as an important step to reach younger shoppers who are increasingly active on social media platforms. Event-Driven Marketing Initiatives: Tilly's hosted several in-person events, including celebrity appearances and collaborations with influencers, to strengthen its brand association with youth culture. These activities, particularly during festival season, are intended to drive store traffic and reinforce the company's position at the intersection of fashion and music. Store Optimization and Closures: The company closed eight stores year-over-year and plans further closures depending on lease negotiations. CFO Michael Henry highlighted that ongoing store rationalization is expected to reduce occupancy costs, but acknowledged that future cost leverage will depend on sales trends. Tariff and Cost Management: While tariffs on imported goods remain a concern, management indicated that the current impact on product costs is minor, with efforts underway to mitigate risks through supplier collaboration. Michael Henry stated that product margins are expected to remain stable barring significant changes in tariff policy. Tilly's outlook is shaped by efforts to stabilize sales trends, execute marketing strategies, and navigate macroeconomic headwinds in the coming quarters. Back-to-School Season Importance: Management emphasized that the final weeks of the second quarter, coinciding with the back-to-school shopping period, historically generate the highest sales volume. The company is relying on this seasonal lift to potentially offset ongoing traffic and transaction declines. Store Footprint Adjustments: Tilly's plans to close multiple additional stores in the next two quarters, with up to 15 more closures possible depending on lease renewals. Management believes that a leaner store base could help control costs, though it presents risks to overall reach and sales volume. Tariff and Inventory Risk: The company continues to monitor tariff developments, which could affect product costs over time. Current inventory levels are lower than last year, positioning Tilly's to be more agile, but ongoing macroeconomic uncertainty and changing consumer preferences present continued risks to profitability. In the quarters ahead, the StockStory team will be watching (1) whether Tilly's can sustain recent sequential improvements in comparable sales through the back-to-school period, (2) the impact of continued store closures on both cost structure and overall sales, and (3) how digital and event-driven marketing initiatives translate into higher customer engagement and transaction growth. Changes in tariff policy and consumer spending patterns will also be important factors to monitor. Tilly's currently trades at a trailing 12-month price-to-sales ratio of 0.1×. In the wake of earnings, is it a buy or sell? Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
Yahoo
4 days ago
- Business
- Yahoo
Tilly's Inc (TLYS) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Release Date: June 04, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Tilly's Inc (NYSE:TLYS) reported a sequential improvement in comparable net sales, with a decrease of only 2.2% in May compared to a 7% decrease in the first quarter. The company launched a Tilly's TikTok shop, which has outperformed daily order volumes through Amazon since mid-April. Tilly's Inc (NYSE:TLYS) has been actively engaging with customers through successful in-person events, such as collaborations with influencers and celebrities like Mike Tyson and Travis Barker. Product margins improved by 40 basis points due to higher initial markups, indicating better pricing strategies. The company maintains a debt-free balance sheet with total liquidity of $92.6 million, providing financial stability and flexibility. Total net sales decreased by 7.1% in the first quarter, with both physical stores and e-commerce experiencing declines. Gross margin decreased to 19.8% from 21% last year, impacted by higher inventory evaluation reserves. Tilly's Inc (NYSE:TLYS) reported a net loss of $22.2 million or $0.74 per share, compared to a net loss of $19.6 million or $0.65 per share last year. The company closed 8 stores over the past year and plans to close additional stores, which may impact future sales and market presence. SG&A expenses de-leveraged by 190 basis points due to carrying costs against lower total net sales, indicating inefficiencies in cost management. Warning! GuruFocus has detected 4 Warning Signs with TLYS. Q: Can you provide more details on the first quarter's sales trends, particularly regarding the impact of macro volatility or weather events? A: Michael Henry, CFO: In the first quarter, February sales were down 5.7%, March was down 13.8%, and April saw an increase of 1.5%. Traffic was down low single digits, but slightly better in May. The average sale was down low single digits in the first quarter but up 1% in May. Total transactions were down 5 to 6%. Q: Regarding the second quarter guidance, what should we expect in terms of sales trends and any notable calendar shifts? A: Michael Henry, CFO: Each month last year was down single digits, so we don't expect difficulty from comparisons. The bulk of sales volume occurs at the end of the quarter due to the back-to-school season. Historically, May accounts for about 25% of second-quarter sales. The back-to-school season has been our strongest period in recent years, providing cautious optimism. Q: How is the merchandise assortment performing, and are there any specific areas showing improvement? A: Hezy Shaked, CEO: The merchandise is looking better and selling better, with traffic consistently up in recent weeks. While I won't specify brands, the junior side is becoming spot on, and overall, I'm more encouraged now than a year ago. Q: Are there any expected impacts from tariffs on margins for the rest of the year? A: Michael Henry, CFO: We don't anticipate a material impact from tariffs for the remainder of the year. Product margins are expected to be consistent with or slightly better than last year, depending on the range. Q: Have there been any discussions with activist investors regarding board seats? A: Hezy Shaked, CEO: No, we haven't had any discussions with activist investors, and no board seats have been requested. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
National Post
27-05-2025
- Business
- National Post
Rachel Liem-Smith Joins Massey Henry as Principal Amid Continued Firm Expansion
Article content TORONTO — Massey Henry, one of North America's leading executive search firms focused on financial services, is pleased to announce the appointment of Rachel Liem-Smith as Principal. Article content Article content 'I am excited to join a firm with a clear sector focus, strong market reputation, and a client-centric culture. The pace of growth and calibre of work at Massey Henry present an exciting opportunity to apply my experience in financial services.' Her addition is one of six strategic hires the firm has made over the past year, reflecting its continued growth and deepening sector expertise. Article content Ms. Liem-Smith brings over a decade of experience overseeing high-impact talent acquisition functions at major Canadian financial institutions. Most recently, she led national talent acquisition teams at CWB Financial Group and National Bank of Canada, directing enterprise-wide recruitment strategies across commercial banking, corporate services, and technology. Article content In these roles, she also worked closely with external executive search firms, providing her with a nuanced understanding of the industry from a client perspective. Article content 'Rachel's leadership in building high-performing recruitment teams and her deep understanding of the financial services landscape make her an ideal fit for our firm,' said Michael Henry, Managing Partner. 'As we continue to scale, her experience and values align seamlessly with our client-first approach.' Article content Throughout her career, Ms. Liem-Smith has delivered full-cycle recruitment solutions across a range of functions, including finance, legal, regulatory compliance, strategy, technology, and audit. She is known for her collaborative style and ability to foster strong, trust-based relationships with both clients and candidates. Article content 'I am excited to join a firm with a clear sector focus, strong market reputation, and a client-centric, entrepreneurial culture,' said Ms. Liem-Smith. 'The pace of growth and calibre of work at Massey Henry present an exciting opportunity to apply my experience in financial services toward shaping meaningful leadership outcomes within the sector.' Article content Massey Henry is one of North America's leading executive search and board advisory firms focused exclusively on the financial services sector. With an experienced team of industry leaders and executive recruitment specialists, the firm combines innovation with sector expertise to provide clients with full-scope talent assessment, coaching, succession planning, and executive search services. Article content Article content Article content Article content Contacts Article content Article content Article content
Scotsman
11-05-2025
- Entertainment
- Scotsman
Glen Scotia unveils its oldest whisky - a 50 year old inspired by 'maritime air'
Campbeltown distillery, Glen Scotia has released a new 50-year-old whisky - a single malt shaped by the elements of the unique geographic setting and refined by the craftsmanship of human hands. The inaugural expression in a new collection, Glen Scotia Elements of Campbeltown Release Number One: Air marks a pivotal moment in the distillery's history, as its oldest ever release. The Elements of Campbeltown Collection takes inspiration from the Celtic five-fold knot, as air, water, fire and earth bind together in perfect harmony to create the fifth circle in the centre denoting the spirit. Drawing from Glen Scotia's oldest maturing casks, each chapter will showcase a different element and the influence it has on the spirit. A celebration of the distinctive character of Scotland's smallest whisky region; and testament to the environment that has shaped it over generations, Release Number One: Air captures Campbeltown's maritime climate and the subtle nuances it weaves into the whisky over time. Every drop is a tribute to the patience, precision, place and power of nature that have played a part in its creation. Five decades in the making, the precious Glen Scotia 50 Year Old was distilled in 1973 and bottled at a natural cask strength of 42.3% ABV in 2024. Fully matured in refill American oak hogshead casks to preserve the distillery's character at this age, the coastal influence is woven into the flavour of the spirit, creating hints of salinity between complex and ever-changing layers of baked orchard and tropical fruits. This single malt brings an array of aromas, from flaked almonds, vanilla fudge and salt crystals to sweet edible seaweed and fresh glazed apple tart. There is a medley of flavours with a creamy sweet and salty texture, white pepper, powdered ginger and a lingering coconut finish. Michael Henry, Loch Lomond Group master blender, said: 'Responsibility for whisky of this age, where the passage of time shapes and moulds the character of the spirit is a privilege. "With the first release in this milestone collection for Glen Scotia, I want to give people the opportunity to experience our distillery character at this remarkable age and showcase how time has shaped it. "Matured exclusively in American oak, with its more subtle, supportive cask influence, the character shines through. "Bringing this whisky to its optimum condition has been through knowing the character of the spirit, its interplay with the wood and thoughtful cask management, with a vision already laid down for future releases that will bring people on an incredible journey.' Iain McAlister, Glen Scotia master distiller and distillery manager added: 'Since 1832, our climate has left a fingerprint on our spirit as enduring as the generations that cared for it. "While times may change, the effects of the natural forces endure through the decades. 'Air' is a masterpiece sculpted by the elements for half a century, its scent a symphony of natural elements and timeless tradition. "It is remarkable to think about all the hands this 50-year-old would have passed through, each inheriting it and opting to let it continue its journey beyond them until this optimal moment.' To mark the release, Glen Scotia has collaborated with UK artist Gina Parr to create a unique piece of art capturing the essence of 'air' in the distillery's historic dunnage warehouse, where salty sea air intertwines with heavy spirit vapours to create a distinctive scent and atmosphere. Gina took inspiration from Campbeltown's coastal air stream and Glen Scotia's distilling process to create an oil painting to adorn the cabinet doors concealing each whisky decanter. Using the sensorial experience of her visit, she depicts the abstract yet distinctive air of the distillery and town and its interplay with the whisky. The solid ash and birch display cabinet draws inspiration from an easel in an art gallery and features deep coastal tones and an amber hue on the exterior, selected by Gina to reflect the surroundings and provide a nod to the whisky itself. Housed in the luxurious white leather interior is a bespoke Glencairn crystal decanter encasing the precious whisky. Created exclusively for the new collection, it features a delicate band around the base to represent 'air' while a Celtic knot crowns a heavy brass stopper and is presented alongside a hardback book telling the story of this single malt. Gina Parr said: 'Glen Scotia 50 Year Old started life in the same year I embarked on my own creative journey. For me, this beautifully matured whisky mirrors my art practice – rooted in history, shaped by dedication, and inspired by nature and the elements, which are always sensory and deeply emotive. "I am honoured to have been given the opportunity to collaborate with Glen Scotia for this very special release. "My work is driven by the sights and experiences of living and working in a coastal town in Devon. I love being by the sea, so I knew I would be inspired by Campbeltown. "But there was so much I didn't anticipate - the stunning landscapes and textures, the beautiful curve of the harbour - all of which shaped the creative process. "The distillery itself was awe-inspiring. The smells were overwhelming in the most wonderful way, weaving together the town, the spirit vapour, and the salty sea air into one evocative experience.' Limited to only 100 individually numbered crystal decanters worldwide, Glen Scotia Elements of Campbeltown Release Number One: Air has an RRP of £35,000 and is available by enquiry at and in specialist retailers from May 2025. Glen Scotia has been producing whisky in Campbeltown since 1832 and is one of only three surviving distilleries in the town which was once known as the 'Victorian whisky capital of the world'. Maintaining much of its original design, including the stillroom, and the dunnage warehouse, to this day, the distillery follows in the footsteps of its founders, using traditional methods, carefully creating the subtly maritime Campbeltown style it is renowned for.
Daily Record
08-05-2025
- Entertainment
- Daily Record
Legendary Scottish distillery announces its 'oldest whisky ever'
Only 100 individually numbered crystal decanters will be available worldwide. An iconic Scottish distillery has released its "oldest ever whisky", describing the spirit as a "masterpiece". On Thursday, May 8, Glen Scotia unveiled the Glen Scotia Elements of Campbeltown Release Number One: Air. The new whisky is the inaugural expression in a new collection celebrating the five elements. According to the distillers, Release Number One: Air is a single malt. It was shaped by the elements of Glen Scotia 's unique Campbeltown setting. Release Number One: Air has been five decades in the making, having been distilled in 1973 and bottled at a natural cask strength of 42.3 per cent ABV in 2024. It was fully matured in refill American oak hogshead casks in order to preserve the distillery's character. The whisky features aromas of flaked almonds, vanilla fudge, salt crystals, seaweed, and fresh glazed apple tart. Meanwhile, tasting notes include white pepper, powdered ginger, and a lingering coconut finish. Release Number One: Air is limited to only 100 individually numbered crystal decanters worldwide. According to Glen Scotia, it has a recommended retail price of £35,000. Loch Lomond Group master blender Michael Henry commented: "Responsibility for whisky of this age, where the passage of time shapes and moulds the character of the spirit is a privilege. "With the first release in this milestone collection for Glen Scotia, I want to give people the opportunity to experience our distillery character at this remarkable age and showcase how time has shaped it. "Matured exclusively in American oak, with its more subtle, supportive cask influence, the character shines through. Bringing this whisky to its optimum condition has been through knowing the character of the spirit, its interplay with the wood and thoughtful cask management, with a vision already laid down for future releases that will bring people on an incredible journey." To celebrate the release, Glen Scotia collaborated with UK artist Gina Parr to create a unique piece of art capturing the essence of 'air' in the distillery's historic dunnage warehouse. Parr took inspiration from Campbeltown's coastal air stream and Glen Scotia's distilling process to create an oil painting to adorn the cabinet doors concealing each whisky decanter. The solid ash and birch display cabinet takes inspiration from an easel in an art gallery, while the bespoke Glencairn crystal decanter is housed within a white leather interior. Created exclusively for the new collection, it includes a band around the base to represent 'air', while a Celtic knot crowns a heavy brass stopper and is presented alongside a hardback book telling the story of the single malt. The Elements of Campbeltown Collection is inspired by the Celtic five-fold knot, featuring the elements of air, water, fire, earth, and spirit. Drawing from Glen Scotia's oldest maturing casks, each chapter will showcase a different element and the influence it has on the spirit. Glen Scotia has been producing whisky in Campbeltown since 1832. Today, it is one of only three surviving distilleries in the town and maintains much of its original design. Glen Scotia master distiller and distillery manager Iain McAlister stated: "Since 1832, our climate has left a fingerprint on our spirit as enduring as the generations that cared for it. While times may change, the effects of the natural forces endure through the decades. "'Air' is a masterpiece sculpted by the elements for half a century, its scent a symphony of natural elements and timeless tradition. It is remarkable to think about all the hands this 50-year-old would have passed through, each inheriting it and opting to let it continue its journey beyond them until this optimal moment.'
