Why Tillys Stock Plunged as Much as 25% in Early Trading Today
Shares of Tillys (NYSE: TLYS), which describes itself as a retailer of West Coast fashions, fell sharply on March 11, losing as much as 25% of their value at one point in morning trading. Roughly 90 minutes into the trading day, the stock was still sitting near its worst levels.
It was the company's fiscal fourth-quarter 2021 earnings update that precipitated the decline, despite the fact that Tillys put up another record quarter. Here's a quick look at why investors were so downbeat.
On the top line, fiscal fourth-quarter 2021 sales were $204.5 million, up 14.9% compared to the year-ago period. For the full fiscal year, sales increased 46% to $775.7 million, largely because of pandemic restrictions in 2020. Both of these sales figures were company records.
Source Fool.com
