Real Estate
As of Aug 4, 2018, Tilly's operated 226 stores in 32 states.
In fiscal 2017, the company opened 2 new stores and closed 6 stores. The company opened 7 net stores during the first half of fiscal 2018. 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 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Stores | 226 | 219 | 223 | 224 | 212 | 195 |
| Store growth | 2.3% | -1.8% | -0.4% | 5.7% | 8.7% | 16.1% |
| Total gross square feet (M) | 1,698 | 1,668 | 1,701 | 1,704 | 1,622 | 1,513 |
| Total gross square feet growth | 0.5% | -1.9% | -0.2% | 5.0% | 7.2% | 14.7% |
| Avg store gross sq ft | 7,500 | 7,600 | 7,600 | 7,600 | 7,700 | 7,800 |
| Avg store gross sq ft growth | -1.7% | -0.2% | 0.3% | -0.6% | -1.4% | -1.2% |