TCS - The Container Store sinks 21% aftermarket as Q3 results fail to impress

The Container Store (NYSE:TCS) sank 21% aftermarket despite reporting Q3 earnings and revenue that topped Street estimates. Q3 revenue fell 3% Y/Y to $267.3M, with general merchandise categories contributing all of the basis points decrease, while Custom Closets remained flat. Online sales decreased 36% Y/Y. TCS expects Q4 consolidated sales to fall ~11% Y/Y, or decline 6% excluding the impact of the 53rd week of sales from Q4 2020. The $280M in expected sales in Q4 represents a 16% increase from Q4 2019. Q4 EPS is expected to be ~$0.24. As of Jan. 1, TCS' free cash flow was -$6.1M, compared with $105M as of Dec. 26, 2020.

For further details see:

The Container Store sinks 21% aftermarket as Q3 results fail to impress