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Container Store Group, Inc. (TCS) SEC Filing 10-Q Quarterly report for the period ending Saturday, December 29, 2018

Container Store Group, Inc.

CIK: 1411688 Ticker: TCS

Exhibit 99.1

Picture 1

The Container Store Group, Inc. Announces Third Quarter Fiscal 2018 Financial Results

Consolidated Net Sales down 0.6%;  TCS Net Sales up 0.5%

Comparable Store Sales down 0.8%; holiday departments down 15.8% impacting overall Comparable Store

Sales by negative 3.0%

 

Custom Closets up 4.5%, impacting overall Comparable Store Sales by positive 1.8%

 

EPS of $0.19; Adjusted EPS of $0.07 

Q4 Fiscal January* Comparable Store Sales up 9.4% 

Updates Fiscal 2018 Outlook

 

Coppell, TX — February 5, 2019

 — The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced financial results for the third quarter of fiscal 2018 ended December 29, 2018.

·

Consolidated net sales were $221.6 million, down 0.6%.  Net sales in The Container Store retail business (“TCS”) were $204.9 million, up 0.5%.  Elfa International AB (“Elfa”) third-party net sales were $16.7 million, down 12.6% primarily due to foreign currency translation.

·

Comparable store sales for the third quarter of fiscal 2018 decreased 0.8%, with holiday departments’ sales down 15.8%, contributing an approximate 3.0% decline and Custom Closets sales up 4.5%, contributing an approximate 1.8% increase.  

·

Q4 Fiscal January* comparable store sales up 9.4%.

·

Consolidated net income and net income per share (“EPS”) were $9.3 million and $0.19 compared to net income of $28.4 million and $0.59, respectively, in the third quarter of fiscal 2017.  Adjusted net income per share (“Adjusted EPS”) was $0.07 compared to $0.11 in the third quarter of fiscal 2017 (see Reconciliation of GAAP to Non-GAAP Financial Measures table).

·

Adjusted EBITDA (see Reconciliation of GAAP to Non-GAAP Financial Measures table), was $21.8 million compared to $25.6 million in the prior year period.

“We had mixed performance in the third quarter. We were very pleased with our Custom Closets business which once again delivered strong results, generating 180 basis points of positive comparable store sales, and our other product categories outside of holiday also generated positive comparable store sales growth.  However, our three holiday departments, which represent a disproportionate amount of our sales in this quarter, but only a small portion of our annual sales, underperformed resulting in our comparable store sales decline for the third quarter,” said Melissa Reiff,


The following information was filed by Container Store Group, Inc. (TCS) on Tuesday, February 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Container Store Group, Inc.'s financial trajectory

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Assess how Container Store Group, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Container Store Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Container Store Group, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Details)
Description Of Business And Basis Of Presentation - Contract Balances (Details)
Description Of Business And Basis Of Presentation - Recent Accounting Pronouncements (Details)
Detail Of Certain Balance Sheet Accounts
Detail Of Certain Balance Sheet Accounts (Details)
Detail Of Certain Balance Sheet Accounts (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Foreign Currency Forward Contracts
Foreign Currency Forward Contracts (Details)
Income Taxes
Income Taxes (Details)
Income Taxes - Tax Cuts And Jobs Act (Details)
Long-Term Debt And Revolving Lines Of Credit
Long-Term Debt And Revolving Lines Of Credit (Tables)
Long-Term Debt And Revolving Lines Of Credit - Schedule Of Long-Term Debt And Revolving Lines Of Credit (Details)
Long-Term Debt And Revolving Lines Of Credit - Term Loan Amendment And Revolving Amendment (Details)
Net Income Per Common Share
Net Income Per Common Share (Details)
Net Income Per Common Share (Tables)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Segment Reporting - Reconciliation Of Adjusted Ebitda By Segment To Income Before Taxes (Details)
Subsequent Event

Material Contracts, Statements, Certifications & more

Container Store Group, Inc. provided additional information to their SEC Filing as exhibits

Ticker: TCS
CIK: 1411688
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-000397
Submitted to the SEC: Wed Feb 06 2019 3:01:25 AM EST
Accepted by the SEC: Wed Feb 06 2019
Period: Saturday, December 29, 2018
Industry: Retail Home Furniture Furnishings And Equipment Stores

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