Tilly's (TLYS) IPO Opens Sharply Higher
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The IPO for Tilly's, Inc. (NYSE: TLYS) opened for trading. Shares opened at $18.80 after pricing 8,000,000 shares at $15.50 per share, above the expected $11.50-$13.50 range.
Goldman, Sachs & Co., BofA Merrill Lynch, and Piper Jaffray & Co. acted as book-running managers, and William Blair & Company and Stifel Nicolaus Weisel acted as co-managers for this offering. Latham & Watkins LLP served as legal counsel to Tilly’s in connection with the offering.
Tilly's is a fast-growing destination specialty retailer of West Coast inspired apparel, footwear and accessories.
In fiscal 2011, Tilly's increased net sales to $400.6 million from $332.6 million in fiscal 2010, or 20%, and increased operating income to $34.9 million from $24.9 million in fiscal 2010, or 40%. Tilly's comparable store sales increased 10.7% in fiscal year 2011 after a 6.7% increase in fiscal year 2010.
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Goldman, Sachs & Co., BofA Merrill Lynch, and Piper Jaffray & Co. acted as book-running managers, and William Blair & Company and Stifel Nicolaus Weisel acted as co-managers for this offering. Latham & Watkins LLP served as legal counsel to Tilly’s in connection with the offering.
Tilly's is a fast-growing destination specialty retailer of West Coast inspired apparel, footwear and accessories.
In fiscal 2011, Tilly's increased net sales to $400.6 million from $332.6 million in fiscal 2010, or 20%, and increased operating income to $34.9 million from $24.9 million in fiscal 2010, or 40%. Tilly's comparable store sales increased 10.7% in fiscal year 2011 after a 6.7% increase in fiscal year 2010.
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