The Container Store Group, Inc. Provides Earnings Guidance for the Third Quarter Ended December 28, 2019
January 13, 2020 at 09:05 pm
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The Container Store Group, Inc. provided earnings guidance for the third quarter ended December 28, 2019. For the quarter, the company’s consolidated net sales are estimated to be $228.7 million, representing an increase of 3.2% from $221.6 million in the third quarter of fiscal 2018. Comparable store sales are estimated to increase 3.0% with Custom Closets sales expected to be up 10.2%, contributing approximately 420 basis points of the increase in comparable store sales. The Company continues to expect third quarter fiscal 2019 net income per share to be down as compared to the same quarter last year driven by previously discussed investments related to opening the second distribution center and incremental Custom Closets marketing investments.
The Container Store Group, Inc. is a specialty retailer of organizing solutions, custom spaces, and in-home services. The Companyâs segment includes The Container Store (TCS) and Elfa. TCS segment consists of retail stores, Website, and call center (which includes business sales), as well as its in-home services business. Elfa segment includes the manufacturing business that produces the elfa brand products that are sold domestically exclusively through the TCS segment as well as on a wholesale basis. This segment designs and manufactures component-based shelving and drawer systems and made-to-measure sliding doors. Its shelving and drawer systems are customizable for any area of the home, including closets, kitchens, offices, and garages. The Company also offers its products directly to its customers through its Website, responsive mobile site and application, call center, and in-home design specialists and organizers. Its products are offered under elfa, Avera and Preston brands.
THE CONTAINER STORE GROUP, INC. 
