Wednesday, November 8, 2017

The Container Store tops estimates; raises fiscal outlook

Despite store closures amid a damaging hurricane season, The Container Store topped analysts’ estimates for its second quarter.
For the second quarter ended September 30, the retailer reported that net sales rose 6.5% to a better-than-expected $218.4 million. Net sales in company’s retail business rose 7% to $202.3 million.

Same-store sales rose 1.9% — including the negative impact of the hurricanes. The company estimates that the comparable store sales headwind from the combined impact of Hurricane Harvey in Texas and Hurricane Irma in Florida was approximately 70 basis points.. . . more

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