Container Store Group Inc. TCS fell on news of it missing analyst estimates for EPS and its updated outlook for for FY 2014. The outlook ranged from the low-end to below analyst estimates.
The company reported 2Q FY revenue of $193.2 million versus analyst expectations of $199.24 million.
According to the company’s press release, full “fiscal 2014 consolidated net sales are expected to be $800 to $810 million," analysts had expected full year revenue at $821.29 millon.
"Net income is expected to be $0.52 to $0.57 per diluted common share based on estimated diluted common shares outstanding of 49 million.”
After accounting for the sale of a building as part of a subsidiary, “adjusted net income is expected to be $0.41 to $0.46 per diluted common share based on estimated diluted common shares outstanding of 49 million. Adjusted EBITDA is expected to be $95 to $99 million.”
The company indicated that comparable store sales will be “flat to down low single digits in the third quarter of fiscal 2014,” with an expected “increase in the low to mid-single digit range in the fourth quarter of fiscal 2014.”
Container Store Group Inc. traded at $19.33 in the after hours market, down 11.69 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.