Originally published at www.seclive.com
The Container Store Group, Inc. (NYSE:TCS) announced its financial results for the third fiscal quarter, reporting a net loss due largely to IPO costs. The company sustained a net loss of $9.5M and $1.39 per share, down from a profit of $6.9M and $5.32 earnings per share in the year-ago quarter. When excluding the $14.6M IPO-related expense, its adjusted earnings were $0.11 per share, beating analyst expectations of $0.08 per share. Quarterly sales increased 7.3% to $188.3M, falling just short of the $188.9M prediction while comparable-store sales increased 4.7%. Chairman and CEO Kip Tindell remarked that the company is very pleased with its operating results, with marked increases in overall sales and comparable-store sales. The Container Store is thrilled with its successful IPO and optimistically looks forward to continued growth and opportunity.
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