Tilly’s Inc., the niche surf and skate apparel retailer, has chosen a new CEO, selecting an executive who already has a leadership track record at the company.
Hezy Shaked, the company’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 will leave the interim title behind.
Tilly’s is No. 513 in the Top 1000. The database is Digital Commerce 360’s ranking 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 year
Tilly’s CEO and co-founder extends role in company’s history
“As the co-founder of this 42-year-old company, there is no one who cares about it more deeply than I do,” Shaked said in a released statement. “I remain fully committed and enthusiastic about 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, as well as its website.
The brand has historically had a substantial digital presence, being early to embrace immersive shopping experiences online and catering to smartphone users. Tilly’s offers an array of apparel products but also sells shoes, backpacks, accessories and a variety of other items.
The company has also prioritized sustainability efforts, which have included the use of recycled polyester, organic cotton, recycled nylon and hemp. In addition, it has a Restored by Tilly’s label, which launched in 2021 and has extended the life of over 8,000 garments.
Tilly’s was started in 1982 by Shaked and his ex-wife Tilly Levine. Tilly’s started 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 in the role since 2015. Prior to taking on the role at Tilly’s, Thomas served as CEO at Wet Seal. Shaked touted his roots and emotional stake in the company as assets that will help him lead the company forward.
In the quarter ending on Aug. 3, total net sales were $162.9 million, up 1.8% compared to the same quarter last year, a sign that Shaked sees as a turn-around in progress. However, total comparable net sales, including ecommerce and stores, declined 7.8%.
“While the macro environment remains challenging for our customer demographic, we believe that our new pricing strategies are gaining traction as evidenced by our second consecutive quarter of improved product margins, and that we are beginning to drive improved customer engagement through our refocused marketing efforts,” said Shaked in the earnings release dated Sept. 5. “We are encouraged to have started 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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