TCS - Why The Container Store Stock Popped Today
Shares of The Container Store (NYSE: TCS) have popped as much as 22% after the company announced a new CEO and provided an update regarding the business. As of 12:30 p.m. EST, the stock was still up 11%.
The Container Store named Satish Malhotra as its new CEO, effective on Feb. 1, replacing current chief executive Melissa Reiff. The current leader has served as CEO since 2016 and will retire on March 1 but remain as Chairwoman of the Board until the consumer discretionary company's annual meeting this summer. Malhotra was most recently the Chief Retail and Operating Officer of LVMH 's Sephora and has decades of experience in the retail industry .
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Why The Container Store Stock Popped Today