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Container Store Group, Inc. (TCS) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, April 3, 2021

Container Store Group, Inc.

CIK: 1411688 Ticker: TCS

Exhibit 99.1

Graphic

The Container Store Group, Inc. Announces Fourth Quarter and Full Fiscal 2020 Financial Results

Fourth quarter consolidated net sales of $314.7 million, up 30.4%, including $17.7 million from the 53rd week

Fourth quarter earnings per diluted share of $0.69 and adjusted earnings per diluted share* of $0.71,

compared to $0.26 in fourth quarter of fiscal 2019

Fiscal 2020 consolidated net sales of $990.1 million, up 8.1%

Fiscal 2020 earnings per diluted share of $1.17 and adjusted earnings per diluted share* of $1.24,

compared to $0.30 in fiscal 2019

Fiscal 2020 operating cash flow of $138.3 million and free cash flow* of $121.1 million

Coppell, TX — May 18, 2021

 — The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced financial results for the fourth quarter and fiscal year 2020 ended April 3, 2021. The fourth quarter and full fiscal year 2020 consisted of 14 weeks and 53 weeks, respectively.

For the fourth quarter of fiscal 2020:

Consolidated net sales were $314.7 million, an increase of 30.4% compared to the thirteen weeks ended March 28, 2020. The 53rd week contributed approximately $17.7 million in net sales.
oNet sales in The Container Store retail business (“TCS”) were $294.2 million, up 31.3%, inclusive of a 41.6% increase in general merchandise categories and a 22.2% increase in Custom Closets.
oOnline sales increased 72.2% in the fourth quarter of fiscal 2020.
oElfa International AB (“Elfa”) third-party net sales were $20.5 million, up 18.8% compared to the fourth quarter of fiscal 2019; excluding the impact of foreign currency translation, Elfa third-party net sales were up 5.0%.
Consolidated net income increased 180.0% to $35.1 million compared to $12.5 million in the fourth quarter of fiscal 2019. Consolidated net income per diluted share (“EPS”) was $0.69 compared to $0.26 in the fourth quarter of fiscal 2019. The 53rd week contributed approximately $0.07 of incremental EPS in the fourth quarter of fiscal 2020.
Adjusted net income per diluted share (“Adjusted EPS”)* was $0.71, inclusive of approximately $0.07 of incremental Adjusted EPS* from the 53rd week, compared to $0.26 in the fourth quarter of fiscal 2019.
Adjusted EBITDA* increased 66.7% to $59.5 million in the fourth quarter of fiscal 2020 compared to $35.7 million in the fourth quarter of fiscal 2019. The 53rd week contributed approximately $5.3 million of incremental Adjusted EBITDA* in the fourth quarter of fiscal 2020.
Net cash provided by operating activities was $138.3 million in the fifty-three weeks ended April 3, 2021 compared to $30.7 million in the fifty-two weeks ended March 28, 2020.
Free cash flow* increased to $121.1 million compared to ($2.9) million in the fifty-two weeks ended March 28, 2020. In fiscal 2020, the Company utilized $78 million to pay down principal on its Senior Secured Term Loan.

Satish Malhotra, Chief Executive Officer commented, “I am very proud of our team’s accomplishments in fiscal 2020 underscored by outstanding fourth quarter performance driven by broad-based product and channel demand. I want to thank all of our teams for their hard work and dedication in driving these results despite the difficult environment created

* See Reconciliation of GAAP to Non-GAAP Financial Measures table.

1


The following information was filed by Container Store Group, Inc. (TCS) on Tuesday, May 18, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Container Store Group, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Detail Of Certain Balance Sheet Accounts
Detail Of Certain Balance Sheet Accounts (Details)
Detail Of Certain Balance Sheet Accounts (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Nonqualified Retirement Plan (Details)
Employee Benefit Plans - Pension Plan (Details)
Employee Benefit Plans 401(K) Plan (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Estimated Fair Value Of Long-Term Debt, Including Current Maturities (Details)
Foreign Currency Forward Contracts
Foreign Currency Forward Contracts (Details)
Goodwill And Trade Names
Goodwill And Trade Names (Details)
Goodwill And Trade Names (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Components Of The Provision For Income Taxes (Details)
Income Taxes - Differences Between The Actual Provision For Income Taxes And The Amounts Computed By Applying The Statutory Federal Tax Rate To Income Before Taxes (Details)
Income Taxes - Operating Loss Carryovers (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Components Of Lease Costs (Details)
Leases - Future Minimum Lease Payments (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Remaining Operating Lease Term And Incremental Borrowing Rate (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 - Deferred Financing Costs (Details)
Long-Term Debt And Revolving Lines Of Credit - Elfa Senior Secured Credit Facilities (Details)
Long-Term Debt And Revolving Lines Of Credit - Revolving Credit Facility (Details)
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 - Scheduled Total Revolving Lines Of Credit And Debt Maturities (Details)
Long-Term Debt And Revolving Lines Of Credit - Senior Secured Term Loan Facility (Details)
Nature Of Business And Summary Of Significant Accounting Policies
Nature Of Business And Summary Of Significant Accounting Policies (Details)
Nature Of Business And Summary Of Significant Accounting Policies (Policies)
Nature Of Business And Summary Of Significant Accounting Policies (Tables)
Nature Of Business And Summary Of Significant Accounting Policies - Business Update Related To Coronavirus (Details)
Nature Of Business And Summary Of Significant Accounting Policies - Fiscal Year (Details)
Nature Of Business And Summary Of Significant Accounting Policies - Foreign Currency Forward Contracts (Details)
Nature Of Business And Summary Of Significant Accounting Policies - Gift Cards And Merchandise Credits (Details)
Nature Of Business And Summary Of Significant Accounting Policies - Property, Plant, And Equipment (Details)
Nature Of Business And Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Net Income Per Common Share
Net Income Per Common Share (Details)
Net Income Per Common Share (Tables)
Schedule I-Condensed Financial Information Of Registrant
Schedule I-Condensed Financial Information Of Registrant - Condensed Balance Sheets (Details)
Schedule I-Condensed Financial Information Of Registrant - Condensed Statements Of Comprehensive Income (Details)
Schedule I-Condensed Financial Information Of Registrant - Condensed Statements Of Comprehensive Income (Details)
Schedule I-Condensed Financial Information Of Registrant - Condensed Statements Of Operations (Details)
Schedule I-Condensed Financial Information Of Registrant - Disclosure (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Earnings Or Loss Before Income Taxes For Operating Segments (Details)
Segment Reporting - Reconciliation Of Adjusted Ebitda By Segment To Income Before Taxes (Details)
Segment Reporting - Sales By Merchandise Category As A Percentage Of Total Net Sales (Details)
Shareholders' Equity
Shareholders' Equity - Common Stock (Details)
Shareholders' Equity - Preferred Stock (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Stock-Based Compensation - Restricted Stock Awards (Details)
Stock-Based Compensation - Restricted Stock Awards Activity (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stock-Based Compensation - Stock Options (Details)
Subsequent Event (Details)
Ticker: TCS
CIK: 1411688
Form Type: 10-K Annual Report
Accession Number: 0001558370-21-007972
Submitted to the SEC: Thu Jun 03 2021 4:22:46 PM EST
Accepted by the SEC: Thu Jun 03 2021
Period: Saturday, April 3, 2021
Industry: Retail Home Furniture Furnishings And Equipment Stores

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