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Tilly's (TLYS) earnings and revenue breakdown
Latest: Q2 FY27 · 10-Q filed Sep 3, 2026 · Tilly's (TLYS) Q2 FY27 earnings results →
Q2 FY27 Revenue up 8% year over year to $164M · 5¢ of every $1 of revenue kept as net profit · operating margin 5.0%
Tilly's made $164M in Q2 FY27 (+8% Y/Y): Retail stores $129M, E-com $34.5M. Operating margin 5.0%, net earnings $8.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 3, 2026.
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What changed this quarter
Revenue was $163.5M in Q2 FY27, up 8% year over year and up 31% from the previous quarter. Retail stores was the largest line at 79% of revenue. Retail stores added $6.3M year over year (up 5%), 51% of the total change.
Gross margin was 35.5%, up 3.1 points from Q2 FY26. Operating profit was $8.2M, a 5.0% margin (up 3.2 points year over year). Of the extra revenue versus Q2 FY26, 45% reached operating profit, above the 2% margin then. Operating expenses grew 8% against revenue growth of 8%. Net earnings were $8.4M, up 165% year over year. The effective tax rate was 1.0%.
Operating cash flow was $22.4M (up 60% year over year), 267% of net earnings. Non-cash charges added back $2.2M of depreciation and amortization and $675K of share-based compensation. Working capital and other items added $11.1M. Capital expenditures of $1.4M left free cash flow of $20.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 FY27 | 10-Q | Sep 3, 2026 | $164M | +8% | 5.0% | $8.4M | $22.4M |
| Q1 FY27 | 10-Q | Jun 4, 2026 | $125M | +16% | -6.5% | −$8.0M | −$3.9M |
| Q3 FY26 | 10-Q | Dec 4, 2025 | $140M | -3% | -1.4% | −$1.4M | −$10.4M |
| Q2 FY26 | 10-Q | Sep 4, 2025 | $151M | -7% | 1.8% | $3.2M | $14.0M |
| Q1 FY26 | 10-Q | Jun 5, 2025 | $108M | -7% | -21.1% | −$22.2M | −$8.1M |
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About Tilly's
Tillys is a leading destination specialty retailer of casual apparel, footwear, accessories, and hardgoods for young men, young women, boys and girls with an extensive assortment of iconic global, emerging, and proprietary brands rooted in an active, outdoor and social lifestyle. Tillys is headquartered in Irvine, California and operated 223 stores in 33 states as of January 31, 2026. Our stores are located in malls, lifestyle centers, "power" centers, community centers, outlet centers, and street-front locations. Customers may also shop online at www.tillys.com, where we feature the same assortment of products as is carried in our brick-and-mortar stores, supplemented by additional online-only styles. Our goal is to serve as a destination for the latest, most relevant merchandise and brands important to our customers.
In its own words, from its annual report, filed Apr 9, 2026.
Tilly's against its Retail-Apparel & Accessory Stores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median -2%. Operating margin: 5.0% against the peers' median 5.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TLYS Tilly's | Q2 FY27 | $164M | +8% | 5.0% |
| CURV Torrid Holdings | Q2 FY27 | $232M | -12% | 6.3% |
| CTRN Citi Trends | Q2 FY27 | $212M | +11% | -0.8% |
| ZUMZ Zumiez | Q2 FY27 | $209M | -2% | -0.6% |
| DLTH Duluth Holdings | Q2 FY27 | $121M | -8% | 15.5% |
| VNCE Vince Holding | Q2 FY27 | $81.8M | +12% | 16.6% |
| DBGI Digital Brands Group | Q2 2026 | $1.2M | -46% | -618.6% |
Source: Tilly's 10-Q on SEC EDGAR · CIK 1524025 · Retail-Apparel & Accessory Stores
13F: who owns TLYS and who is buying
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History
Every quarter: Q2 FY27 results · Q1 FY27 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results