Tilly’s Inc., the area of interest surf and skate apparel retailer, has chosen a brand new CEO, choosing an executive who already has a leadership track record at the corporate.
Hezy Shaked, the corporate’s co-founder and executive chairman of the board, took on the role of Tilly’s interim president and CEO in January. Following his board’s decision, he’ll leave the interim title behind.
Tilly’s is No. 513 within the Top 1000. The database is Digital Commerce 360’s rating of North America’s largest online retailers. There, Digital Commerce 360 categorizes it as an Apparel & Accessories retailer. Digital Commerce 360 projects Tilly’s online sales in 2024 will reach $139.96 million.
Tilly’s web sales by yr
Tilly’s CEO and co-founder extends role in company’s history
“Because the co-founder of this 42-year-old company, there isn’t any one who cares about it more deeply than I do,” Shaked said in a released statement. “I remain fully committed and captivated with making every effort to work toward improving our business.”
Tilly’s is headquartered in Irvine, California, and currently operates 247 total stores across 33 states, in addition to its website.
The brand has historically had a considerable digital presence, being early to embrace immersive shopping experiences online and catering to smartphone users. Tilly’s offers an array of apparel products but in addition sells shoes, backpacks, accessories and a wide range of other items.
The corporate has also prioritized sustainability efforts, which have included using recycled polyester, organic cotton, recycled nylon and hemp. As well as, it has a Restored by Tilly’s label, which launched in 2021 and has prolonged the lifetime of over 8,000 garments.
Tilly’s was began in 1982 by Shaked and his ex-wife Tilly Levine. Tilly’s began as a single store, but under Shaked’s earlier leadership, it grew from one store in southern California to the nationwide presence that it has today.
CEO transition at Tilly’s
Shaked replaces long-time CEO Ed Thomas, who retired after serving within the role since 2015. Prior to taking over the role at Tilly’s, Thomas served as CEO at Wet Seal. Shaked touted his roots and emotional stake in the corporate as assets that may help him lead the corporate forward.
Within the quarter ending on Aug. 3, total net sales were $162.9 million, up 1.8% in comparison with the identical quarter last yr, an indication that Shaked sees as a turn-around in progress. Nonetheless, total comparable net sales, including ecommerce and stores, declined 7.8%.
“While the macro environment stays difficult for our customer demographic, we consider that our latest pricing strategies are gaining traction as evidenced by our second consecutive quarter of improved product margins, and that we’re starting to drive improved customer engagement through our refocused marketing efforts,” said Shaked within the earnings release dated Sept. 5. “We’re encouraged to have began the third quarter with a positive comp in fiscal August, representing our first positive monthly comparable net sales result since February 2022.”
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