- Container Store profit falls 62%; Strong dollar, promotional spending hurt retailer of storage, organization products
Shares of the nation’s leading retailer of storage and organization products store, The Container Store, sharply declined after the company report second quarter earnings that were weaker than expected after the close Monday. After closing Monday up 2.84% to $15.57, TCS shares are currently sitting at $13.31, well below its 2013 IPO price of $45 a share.
The Container Store Earnings & Outlook
TCS reported a second quarter profit of $2.7 million, or 6 cents a share vs. $6.96 million or 14 cents a share a year ago. Analysts had expected the company to earn 7 cents a share. Net sales for the second quarter rose to $195.5 from $193.2 year over year. Consensus revenue estimates from analysts was $197.7 million for the quarter. Comparable store sales increased 0.1% year over year.
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