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In a recent SEC filing, Tilly’s (NYSE:TLYS), Inc. reported the outcomes of its annual meeting held on June 11, 2025. The meeting saw shareholders vote on several key proposals, determining the future direction of the company’s governance and executive compensation. According to InvestingPro data, Tilly’s currently operates with a market capitalization of $36.79 million and faces significant challenges with a weak financial health score of 1.19 out of 5. For deeper insights into Tilly’s financial position and future prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
The apparel and accessories retailer, headquartered in Irvine, California, confirmed the election of six directors to its board. The directors, elected for a term expiring at the 2026 annual meeting, received substantial support, with no abstentions recorded for the proposal. The elected directors include Hezy Shaked, Teresa Aragones, Doug Collier, Seth Johnson, Janet Kerr, and Michael Relich. These directors face significant challenges, as InvestingPro analysis shows the company’s revenue declined by 8.79% over the last twelve months to $561.21 million, with concerning debt levels at 2.4 times equity.
Additionally, Tilly’s stockholders approved the Third Amended and Restated Tilly’s Equity and Incentive Award Plan. This plan is designed to provide incentives to employees and align their interests with those of the company’s shareholders.
The appointment of BDO USA, P.C. as the company’s independent registered public accounting firm for the fiscal year ending January 31, 2026, was also ratified by the shareholders. This decision underscores the importance of maintaining transparency and accountability in the company’s financial reporting.
Furthermore, the compensation of the company’s named executive officers for the fiscal year ended February 1, 2025, was approved on a non-binding, advisory basis. This reflects shareholder satisfaction with the executive compensation in relation to the company’s performance.
The filing indicated that as of April 21, 2025, the record date for the annual meeting, Tilly’s had 22,845,799 shares of Class A common stock and 7,306,108 shares of Class B common stock outstanding. Each share of Class A common stock was entitled to one vote, while each share of Class B common stock carried ten votes. Despite current market challenges, InvestingPro analysis suggests the stock may be undervalued at current prices. Subscribers can access 10+ additional ProTips and comprehensive financial metrics to make more informed investment decisions.
The detailed results of the voting process, including the number of votes for and against each proposal, as well as abstentions and broker non-votes, were provided in the filing. This information is based on a press release statement and reflects the decisions made by Tilly’s stockholders during the annual meeting.
In other recent news, Tilly’s reported a net loss of $22.2 million, or $0.74 per share, for the first quarter of 2025, which was more than the anticipated loss of $0.68 per share. The company’s revenue for the quarter was $107.6 million, aligning with forecasts but reflecting a 7.1% decrease from the previous year. Tilly’s announced plans to close seven stores in the second quarter and potentially up to 15 more by the end of the year. The company remains optimistic about the back-to-school season, a historically strong period for Tilly’s. Analysts from ROTH Capital and B. Riley have shown interest in the company’s recent performance and future prospects. Tilly’s expects net sales for the second quarter to be between $150 million and $158 million, with comparable net sales ranging from a 5% decline to flat. The company also plans to maintain a debt-free status throughout fiscal 2025. Despite the challenges, Tilly’s is focused on enhancing its merchandise assortment and marketing efforts to drive future growth.
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