Container Store explodes higher after sales beat, layoff announcement (TCS)
|05/24/2017||Posted by BusinessMediaguide.Com under General World News||
The Container Store Group‘s stock surged 37% to $5.67 a share after the company reported fourth-quarter results that beat analysts’ expectations and announced a restructuring plan.
Net sales for the period were $221 million, exceeding consensus estimates of $213 million. The specialty retail chain also provided full-year 2017 guidance, saying net sales would be between $830 million to $850 million, and forecasting earnings per share of $0.25 to $0.35. Both beat analyst estimates.
“We are very pleased to have completed fiscal 2016 with strong fourth quarter performance that exceeded our expectations across all financial metrics,” CEO Melissa Reiff said in a read more >>>