Container Store Group, Inc. (TCS) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, April 2, 2022

Exhibit 99.1

The Container Store Group, Inc. Announces Fourth Quarter and Full Fiscal Year 2021 Financial Results

Highest full-year sales in history, with consolidated net sales of $1.1 billion, up 10.5%^† compared to fiscal 2020 and up 19.5% compared to fiscal 2019;

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Highest full-year earnings per diluted share in history, with earnings per diluted share of $1.62 compared to $1.17^† in fiscal 2020 and $0.30 in fiscal 2019; Adjusted earnings per diluted share* of $1.65 compared to $1.24^† in fiscal 2020 and $0.30 in fiscal 2019;

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Fourth quarter consolidated net sales of $305.5 million, down 2.9%^† compared to fourth quarter of fiscal 2020 (decrease driven by 580 basis points impact of 53^rd week in the fourth quarter of fiscal 2020) and up 26.6% compared to fourth quarter of fiscal 2019;

Earnings per diluted share of $0.46 compared to $0.69^†in the fourth quarter of fiscal 2020 and $0.26 in the fourth quarter of fiscal 2019; Adjusted earnings per diluted share* of $0.46 compared to $0.71^† in the fourth quarter of fiscal 2020 and $0.26 in the fourth quarter of fiscal 2019

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Coppell, TX — May 17, 2022

Satish Malhotra, Chief Executive Officer and President of The Container Store, commented, “We are very pleased with our stronger than expected fourth quarter performance which capped off the best year of sales and profitability in company history. The results demonstrate the progress we are making toward our goal of doubling our sales to $2 billion, and in fiscal 2021 we proudly exceeded $1 billion in sales for the first time. In the fourth quarter of fiscal 2021, custom closet sales were up 3.6%^† when compared to fiscal 2020 driven by our successful Transform with Elfa event, despite limiting the depth and breadth of the promotions. On 2/22/22, we launched our new branding campaign, Welcome to The Organization, with a 22% off welcome offer that drove a record-breaking single-day sales. We followed up the branding campaign with the launch of a reimagined loyalty program, Organized Insider, and our first mobile app. Fiscal 2021 was a banner year that we believe has established a solid foundation for growth at The Container Store.”

Mr. Malhotra concluded, “While fiscal 2022 will be a unique year as we contend with a dynamic macro backdrop, we will focus on our strategic initiatives to drive growth and market share gains. We will continue to emphasize the power of organization and demonstrate The Container Store’s leadership within the $20 billion addressable market of home storage and organization. With only 5% of total market share today, we are confident in the opportunity ahead to grow sales to $2 billion by fiscal 2027. We are excited to return to store growth with a plan to open two new stores in fiscal 2022, and a plan for an additional 74 new stores by fiscal 2027. This growth coupled with our more productive store base, and disciplined expense management is expected to result in low double digit operating margins over time as inflationary headwinds abate.”

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