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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