TCS - Why The Container Store Stock Rallied 16% at the Open Today
Just a day after jumping more than 10% on an analyst upgrade , shares of The Container Store Group (NYSE: TCS) rallied 16% in the first few minutes of trading on Feb. 3. The big news this time, fiscal third-quarter 2020 earnings, actually happened after the close on Feb. 2. So today's early move was the reaction.
The home goods retailer reported revenue of $275.5 million, up 20.5% year over year. Strong results in custom closets (up 19.5%) and online (sales nearly doubled) drove the top-line advance. Adjusted earnings came in at $0.42 per share versus just $0.05 in the same fiscal quarter of 2019.
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Why The Container Store Stock Rallied 16% at the Open Today