10-Q · June 4, 2026
In Q1 2026, Tilly's reported revenue of $124.7 million, a 15.9% increase year-over-year, and a net loss of $8.0 million or $0.26 EPS, outperforming expectations. Management cited positive trends in e-commerce, but…
Earnings analysis · 10-Q
TLYS earnings analysis
Filed September 3, 2026 · Our reading of the company's report
The latest report
Tilly’s delivered a strong Q2, with revenue of $163.508 million and diluted EPS of $0.27, while gross margin expanded to 35.5% and operating income rose to $8.2 million. The filing indicates that disclosure controls…
Read full summary
Tilly’s delivered a strong Q2, with revenue of $163.508 million and diluted EPS of $0.27, while gross margin expanded to 35.5% and operating income rose to $8.2 million. The filing indicates that disclosure controls remained effective as of August 1, 2026 and reports no material changes in market risks or internal controls. Numeric guidance is not provided in the 10-Q; the Q3 outlook was issued separately in the September 2 earnings release.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.27
What stood out
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Revenue and EPS beat consensus
Q2 revenue was $163.508 million and diluted EPS was $0.27, exceeding the provided consensus estimates of $152.44 million and $0.15, respectively.
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Material margin expansion
Gross margin expanded to 35.5% from 32.5%, while operating income increased to $8.2 million from $2.7 million; the implied operating margin was approximately 5.0%.
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Controls remained effective
Management stated that disclosure controls and procedures were effective at the reasonable-assurance level as of August 1, 2026.
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No material control deterioration
The filing states there was no change in internal control over financial reporting during the thirteen weeks ended August 1, 2026 that materially affected, or was reasonably likely to materially affect, controls.
What to watch
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No updated risk-factor detail
The filing does not identify new risk-factor additions and directs readers to the January 31, 2026 Form 10-K; separately, it states that there were no material changes in market risks as of August 1, 2026.
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Inherent control limitations
The filing reiterates that controls provide only reasonable, not absolute, assurance and that misstatements from error or fraud may occur and not be detected.
Management's outlook
The 10-Q does not provide numeric guidance. The previously issued Q3 outlook was disclosed in the September 2 earnings release rather than this filing.
Earlier filings 2
10-K · April 9, 2026
Tillys describes itself as a destination specialty retailer with 223 stores in 33 states (as of January 31, 2026) and omni-channel capability; e‑commerce accounted for approximately 22% of total net sales in each of the…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.