Tile Shop (TTS) Reports In-Line Q3 EPS

Tile Shop (NASDAQ: TTS) reported Q3 EPS of $0.05, in-line with the analyst estimate of $0.05. Revenue for the quarter came in at $84.4 million versus the consensus estimate of $84.06 million.

Comparable store sales growth for the third quarter of 2016 was 5.7%.

“As previously announced, a more competitive environment and increased demand for opening price point offerings led to weaker than expected results in our third quarter,” said Chris Homeister, CEO. “In response, we increased our promotions, competitive pricing and advertising in the quarter as we sought the best results possible for both sales and gross profit dollars within the environment. This activity in combination with product mix changes resulted in a lower gross margin percentage during the quarter. Our actions for the remainder of the year include completing our annual product transition, further differentiating our product assortment for 2018 and continued emphasis on delivering an outstanding customer experience at The Tile Shop.”

For earnings history and earnings-related data on Tile Shop (TTS) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c
• Reading (RDI) Tops Q2 EPS by 4c