Tilly’s, Inc. has made an official announcement regarding the retirement of its President and Chief Executive Officer, Ed Thomas. Effective as of January 22, Thomas has also stepped down from his role as a director of the company.
In a statement, Hezy Shaked, Co-Founder and Executive Chairman of the Board of Directors at Tilly’s, expressed gratitude to Thomas for his years of service, stating, “On behalf of the Board of Directors and everyone at Tillys, I sincerely thank Ed for his many valuable contributions and leadership during his tenure at Tillys, and wish him continued success in his future endeavors.”
Thomas, who held the positions of President, CEO, and Director of the Board since October 2015, had previously served as CEO and Director of Wet Seal from September 2014 to August 2015.
Hezy Shaked will assume the role of Interim President and CEO until a suitable successor for Thomas is appointed. With a background as President and CEO, Shaked brings over 40 years of retail industry experience, providing a comprehensive understanding of all aspects of the business.
The retirement announcement follows lackluster results reported by the US retailer after its holiday selling season. Tilly’s revised down its fiscal fourth-quarter guidance earlier this month, citing a 7.4 percent decrease in total sales and a 9 percent decline in comparable sales during the holiday season.
