Tilly’s stock rallies 15% after retailer calls for ‘positive comps’ for Q4

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Shares of Tilly’s Inc. jumped more than 15% in the extended session Wednesday after the retailer said it was optimistic about its fourth quarter and reported fiscal third-quarter profit and sales in line with Wall Street consensus. Tilly’s said it earned $6.4 million, or 21 cents a share, in the quarter, compared with $5.4 million, or 18 cents a share, in the year-ago period. Adjusted for one-time items, Tilly’s earned $6.9 million, or 23 cents a share, compared with $6 million, or 20 cents a share, last year. Sales rose 5% to $154.8 million, Tilly’s said. Same-store sales rose 3.1%, including a 2.4% increase in brick-and-mortar stores. Analysts polled by FactSet had expected the retailer to report GAAP and adjusted profit of 21 cents a share on sales of $154.2 million, and had predicted a same-store sales increase around 2.2%. “Despite a slow start to the fourth quarter due to the later Thanksgiving this year compared to last year, our results during Thanksgiving weekend through Cyber Monday give us optimism about our opportunity to deliver positive comps for the fourth quarter as a whole,” Tilly’s said in a statement. The company called for fourth-quarter sales between $179 million and $184 million. Shares of Tilly’s ended the regular trading day up 3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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