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The Container Store Group (TCS) Reports In-Line Q3 EPS, Revenues Miss, Comp. Sales Up 3%; Offers FY19 EPS/Revenue Outlook

February 4, 2020 4:17 PM

The Container Store Group (NYSE: TCS) reported Q3 EPS of $0.05, in-line with the analyst estimate of $0.05. Revenue for the quarter came in at $228.7 million versus the consensus estimate of $229.02 million.

Melissa Reiff, Chief Executive Officer commented, “We are very pleased to deliver a strong third quarter performance which was largely in line with our expectations, as we continued to successfully execute against our number one strategic priority; to grow our Custom Closets business. As we expected, sales in our holiday departments declined compared to last year, but our focus on our everyday products and solutions during the holiday period more than offset the holiday departments’ sales challenges. We continue to make changes to profitably maximize this portion of our offering going forward.”

Ms. Reiff continued, “We are focused on the execution of our strategic priorities and we are making good progress against each of them. We are just beginning to realize the benefits of our investment in our new distribution center including the associated freight savings, as well as significant improvements in customer delivery times, which are expected to ramp up as we move into fiscal 2020. Our marketing investments to expand awareness of our Custom Closets offerings and capabilities are also driving the desired outcomes. We look forward to continuing to capitalize on the opportunities to grow our share of this estimated $6 billion Custom Closets addressable market, and enter the final quarter of our fiscal year in a strong position to deliver against our previously provided outlook.”


The Container Store Group sees FY2019 EPS of $0.41-$0.51, versus the consensus of $0.42. The Container Store Group sees FY2019 revenue of $915-925 million, versus the consensus of $925.68 million.

For earnings history and earnings-related data on The Container Store Group (TCS) click here.


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