Tile Shop (TTS) Reports In-Line Q1 EPS, Miss on Revenues

Tile Shop (NASDAQ: TTS) reported Q1 EPS of $0.08, in-line with the analyst estimate of $0.08. Revenue for the quarter came in at $91.13 million versus the consensus estimate of $94.3 million.

OUTLOOK

The Company reiterates its previously communicated annual outlook:

• Capital investment of approximately $27 to $32 million, including remodeling approximately 30 stores to support its product presentation strategy.
• Inventory investment of approximately 25% to 35% year over year, over the next several quarters, to support our product assortment strategy.
• Selling, general and administrative (“SG&A”) expense increase of approximately $5 to $7 million to support its service strategy, including increased expenses for (1) the addition of regional sales leader positions, (2) sales and warehouse staff compensation, and (3) customer relationship management and content management capabilities. The $5 to $7 million increase in SG&A expense is incremental to the expected SG&A expense increases associated with a full year of operations for the fifteen stores opened in 2017 and the three new stores opening in 2018.

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

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