The Container Store Group, Inc. Announces First Quarter Fiscal 2020 Financial Results
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The Container Store Group (TCS) Misses Q1 EPS by 7c, Revenues Miss
July 28, 2020 4:48 PM EDTThe Container Store Group (NYSE: TCS) reported Q1 EPS of ($0.32), $0.07 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $151.7 million versus the consensus estimate of $152.7 million.
Consolidated net sales were $151.7 million, down 27.6%. Net sales in The Container Store retail business (TCS) were $139.4 million, down 28.5% due to the impact of COVID-19 on store operations. Elfa International AB (Elfa) third-party net sales were $12.3 million, down 14.6% due to COVID-19. Online sales increased by 192.3% in the first quarter of fiscal 2020, which nearly tripled compared to the first quarter of fiscal 2019.... More