Real Estate
As of Jul 29, 2017, Tilly's operated 221 stores in 32 states.
In fiscal 2016, the company opened 3 new stores and closed 4 stores. Two stores were closed in the first half of fiscal 2017. The company believes there is long-term potential for 500 US store locations.
All stores are leased, generally with a base lease term of 10 years, and many have renewal options. Stores are located in malls, lifestyle centers, 'power' centers, community centers, outlet centers and street-front locations, and average approximately 7,600 square feet. The new store model assumes a target store size averaging 7,500 to 8,000 square feet.
| TTM | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|
| Stores | 221 | 223 | 224 | 212 | 195 | 168 |
| Store growth | -1.8% | -0.4% | 5.7% | 8.7% | 16.1% | 20.0% |
| Total gross square feet (M) | 1,690 | 1,701 | 1,704 | 1,622 | 1,513 | 1,319 |
| Total gross square feet growth | -1.3% | -0.2% | 5.0% | 7.2% | 14.7% | 20.5% |
| Avg store gross sq ft | 7,600 | 7,600 | 7,600 | 7,700 | 7,800 | 7,900 |
| Avg store gross sq ft growth | 0.4% | 0.3% | -0.6% | -1.4% | -1.2% | 0.4% |