The Container Store Group (TCS) Reports Q1 Loss of $0.04
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The Container Store Group (NYSE: TCS) reported Q1 EPS of ($0.04), versus ($0.12) reported last year. Revenue for the quarter came in at $177.4 million, versus $169.96 million reported last year.
The Container Store Group maintains FY2016 EPS of $0.20-$0.30. The Container Store Group maintains FY2016 revenue of $830-845 million.
Melissa Reiff, Chief Executive Officer, stated, “In our first fiscal quarter of 2016, we saw a benefit from the strategic investments and ‘closet domination’ focused initiatives we implemented in fiscal year 2015. TCS Closets was again a key driver of comparable store sales performance providing a 230 basis point lift. And, we improved our operating profitability, as we maintained strong gross margins and delivered SG&A efficiencies.”
Reiff continued, “Looking ahead to the rest of the year, we remain committed to maximizing the targeted results of our fiscal year 2016 SG&A savings program. While we are encouraged by the progress being made and resulting improvement in our bottom line performance, we still have work to do on the top line. My primary focus in my new role, in collaboration with our leadership team, is to drive consistent sales and profit growth, all with our continued commitment to The Container Store’s principled way of doing business.”
For earnings history and earnings-related data on The Container Store Group (TCS) click here.
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