TCS - Why The Container Store Stock Rallied 25% in Early Trading Today
Shares of home goods retailer The Container Store (NYSE: TCS) took off at the open, gaining as much as 25% as trading got underway on Wednesday. At roughly 11 a.m. EDT, the stock was still holding on to a nearly 20% advance. The big news was the company's fiscal second-quarter 2021 earnings release, which hit the market after the close on Tuesday.
The Container Store posted sales of $276 million in Q2, up 11% from the same period of 2020. The current tally was nearly 17% above the 2019 figure as well, showing consistent growth despite the impact of the coronavirus pandemic. Adjusted earnings of $0.54 per share, meanwhile, were up from $0.43 in 2020. The sales and earnings numbers both marked records for the company.
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Why The Container Store Stock Rallied 25% in Early Trading Today