The Container Store Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 30, 2023
February 06, 2024 at 04:05 pm EST
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The Container Store Group, Inc. reported earnings results for the third quarter and nine months ended December 30, 2023. For the third quarter, the company reported sales was USD 214.9 million compared to USD 252.24 million a year ago. Net loss was USD 6.43 million compared to net income of USD 4.17 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.08 a year ago.
For the nine months, sales was USD 641.74 million compared to USD 787.54 million a year ago. Net loss was USD 41.92 million compared to net income of USD 30.39 million a year ago. Basic loss per share from continuing operations was USD 0.85 compared to basic earnings per share from continuing operations of USD 0.61 a year ago. Diluted loss per share from continuing operations was USD 0.85 compared to diluted earnings per share from continuing operations of USD 0.61 a year ago.
The Container Store Group, Inc. is a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The Company operates through two segments: 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. The 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 all of its products directly to its customers through its Website, responsive mobile site and application, call center, and in-home design specialists and organizers.