The retailer posted a net income of $2.9 million or diluted EPS of $0.10 in Q4 of FY15, ended on January 30, 2016, as compared to a net income of $7.1 million or diluted EPS of $0.25 in the fourth quarter of previous fiscal. Net sales stood at $159 million as compared to $153 million last fiscal.
Income tax of $6.6 million impacted the fourth quarter earnings of fiscal 2015, which constituted 69.6 per cent of the pre-tax income of the retailer. Tax applicable in the corresponding quarter of FY14 was $4.1 million or 36.6 per cent of the pre-tax income.
The increase in tax was majorly because of a $2.6 million tax impact from stock option expirations. This resulted in the write-off of certain previously recognised deferred tax assets.
Commenting on the results, Ed Thomas, president and CEO of Tilly's said, “Our fourth quarter comparable store sales results were slightly better than our outlook, and we ended the quarter with clean and current inventories.”
“I am even more excited about the opportunities to improve the business for the long-term and look forward to making progress during fiscal 2016,” he added.
The retailer assumes an anticipated effective tax rate of approximately 40 per cent plus a $0.4 million income tax charge primarily for the impact of restricted stock vesting in addition to the effective rate in its outlook for FY16. (MCJ)
Fibre2Fashion News Desk – India
Fashion | On 21st Apr 2021
Three major luxury names—LVMH, Prada and Cartier, part of...
Textiles | On 21st Apr 2021
India's Cabinet chaired by Prime Minister Narendra Modi has given its ...
Circular fashion and textile technology group Infinited Fiber Company ...
Textile Industry Head honchos
We are staring at livelihood crisis for weavers
Farmers who produce seeds earn 50 per cent more
Estimate loss of $8-$10 billion in turnover
Sandra Sequeira
The JD Institute of Fashion Technology is the educational division of JD...
Chini Chouhan
Founded by Chini Chouhan, her eponymous brand specialises in women's...
Bharat Ahuja
A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...
Giulio Cesareo Directa Plus
UK-based Directa Plus is one of the largest producers and suppliers...
Daniel Odermatt Ventile
Ventile is a registered trademark used to brand a special high-quality...
Pranesh Sridharan & Berndt Koll Lenzing
The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...
Seema Agrawal Artisan Saga
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Archana Jaju Label Archana Jaju
<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...
Seema Gujral Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to texpro@fibre2fashion.com.
Thank You!