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Tilly’s, Inc. Provides Business Update

  Tilly’s, Inc. Provides Business Update

  *Updates Fourth Quarter 2013 Outlook

ICR XChange 2014

Business Wire

IRVINE, Calif. -- January 13, 2014

Tilly’s, Inc. (NYSE:TLYS) today provided an update on its fourth quarter 2013
outlook reflecting its performance for the “Holiday Period” (nine weeks ended
January 4, 2014) and in advance of its attendance at the 16th Annual ICR
XChange Conference in Orlando, Florida on January 14, 2014.

Daniel Griesemer, President and Chief Executive Officer, commented, “We
anticipated the challenging retail environment in the fourth quarter due to a
variety of factors and managed our business accordingly. As a result, we
achieved sales in line with our expectations and maintained healthy product
margins during the holiday period. I am proud of how our team continues to
execute in this environment, including, effectively managing our inventory to
exit the holiday period as planned.”

Fourth Quarter 2013 Outlook

Based on the results for the Holiday period, we now expect fourth quarter
results to be in the mid range of our previously communicated outlook for both
comparable store sales and earnings.

About Tilly’s

Tilly's is a fast-growing destination specialty retailer of West Coast
inspired apparel, footwear and accessories with an extensive assortment of the
most relevant and sought-after brands rooted in action sports, music, art and
fashion. Tilly’s is headquartered in Southern California and, as of January
13, 2014, operated 195 stores and through its website, www.tillys.com.

Forward Looking Statements

Certain statements in this press release and oral statements made from time to
time by our representatives are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. In particular,
statements regarding our future financial and operating results, including but
not limited to future comparable store sales, future net income, anticipated
tax rate and long-term strategy, and any other statements about our future
expectations, plans, intentions, beliefs or prospects expressed by management
are forward-looking statements. These forward-looking statements are based on
management’s current expectations and beliefs, but they involve a number of
risks and uncertainties that could cause actual results or events to differ
materially from those indicated by such forward-looking statements, including,
but not limited to, our ability to respond to changing customer preferences,
attract customer traffic at our stores and online, execute our growth and
long-term strategies, expand into new markets, effectively manage our
inventory and costs, effectively compete with other retailers, enhance our
brand image, general consumer spending patterns and levels, the effect of
weather, and other factors that are detailed in our Annual Report on Form
10-K, filed with the Securities and Exchange Commission (“SEC”) on April 3,
2013, including those detailed in the section titled “Risk Factors” and in our
other filings with the SEC, which are available from the SEC’s website at
www.sec.gov and from our website at www.tillys.com under the heading “Investor
Relations”. Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. We do not undertake any obligation to update or alter any
forward-looking statements, whether as a result of new information, future
events or otherwise. This release should be read in conjunction with our
financial statements and notes thereto contained in our Form 10-K and in our
subsequent Forms 10-Q filed with the SEC.

Contact:

Investor Relations:
ICR, Inc.
Anne Rakunas/Joseph Teklits
310-954-1113
anne.rakunas@icrinc.com
 
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