Tilly’s, Inc. (NYSE:TLYS) Q4 2022 Earnings Call Transcript

But with minimum wage increases, it hides the operational efficiencies that you’re actually generating in terms of hours used, because each hour that you have is more expensive than it was before. So compared to last year, it’s 7% higher. Compared to pre-pandemic, it’s 24% higher than it was in 2019. I mean that’s just an extraordinary number to think about, percentage-wise. So that’s why you might not see quite as much movement to the favorable side on SG&A as you might want to naturally assume.

Operator: This concludes our question-and-answer session. I’d like to turn the conference back over to Ed Thomas for any closing remarks.

Edmond Thomas: Thank you all for joining us on the call today. We look forward to sharing our first quarter results with you in early June. Have a good evening. Thank you.

Operator: The conference has now concluded. Thank you very much for attending today’s presentation. You may now disconnect your lines.