CONTAINER STORE Reports First Quarter Earnings Results for FY2024 on June 30 2023
August 16, 2023
🌥️Earnings Overview
CONTAINER ($NYSE:TCS): Total revenue for the quarter was USD 207.1 million, representing a drop of 21.1% from the previous year.
Share Price
On Tuesday, June 30th 2023, CONTAINER STORE reported its first quarter earnings results for the fiscal year of 2024. The company’s stock opened at $3.7 and closed at $3.7, a slight 0.3% uptick from the closing price of 3.7 from the previous day. While not as impressive as the company’s online sales growth, these figures still demonstrate the potential for CONTAINER STORE to keep its foothold in the market. The company’s continued innovation in product design and customer service has allowed it to benefit from the e-commerce boom and gain market share over its competitors.
Going forward, CONTAINER STORE plans to continue focusing on strengthening its e-commerce presence and expanding its customer base. It is also investing in technology to improve its existing brick-and-mortar stores and make them more efficient. With these efforts, CONTAINER STORE is confident that it can meet its goals for FY2024 and achieve further growth in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Container Store. More…
| Total Revenues | Net Income | Net Margin |
| 991.74 | -181.17 | -6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Container Store. More…
| Operations | Investing | Financing |
| 53.15 | -55.03 | -9.11 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Container Store. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 987.96 | 738.88 | 4.85 |
Key Ratios Snapshot
Some of the financial key ratios for Container Store are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.9% | 11.1% | -15.7% |
| FCF Margin | ROE | ROA |
| -0.2% | -38.1% | -9.9% |
Analysis
As GoodWhale, we conducted an analysis of CONTAINER STORE‘s fundamentals. Based on our Star Chart, we classified CONTAINER STORE as a ‘sloth’, meaning that it has achieved revenue or earnings growth slower than the overall economy. This type of company may be attractive to investors who are looking for long-term, steady returns with little risk. We found that CONTAINER STORE has an intermediate health score of 5/10 with regard to its cashflows and debt, indicating that it is likely to sustain operations in times of crisis. We also found that CONTAINER STORE is strong in terms of liquidity, medium in profitability, and weak in asset management, dividend yield, and growth. Despite these weaknesses, given its stable cashflows and debt situation, CONTAINER STORE may be an attractive option for investors interested in long-term, steady returns. More…
Peers
The Container Store Group Inc is a leading retailer in the United States. The company offers a wide variety of products and services, including storage and organization, kitchen and bath, and home. The company operates through a network of retail stores and online channels. The Container Store Group Inc competes with Century Ginwa Retail Holdings Ltd, Grand Ocean Retail Group Ltd, Shirble Department Store Holdings (China) Ltd, and other retailers in the United States and internationally.
– Century Ginwa Retail Holdings Ltd ($SEHK:00162)
Century Ginwa Retail Holdings Ltd is a retail company that operates in China. The company has a market cap of 158.66M as of 2022 and a Return on Equity of -9.06%. The company operates in the retail sector and is involved in the sale of general merchandise, including clothing, footwear, household items, and other consumer goods. The company operates through a network of retail stores and has a presence in the Chinese market. The company has a strong growth potential in the Chinese retail market.
– Grand Ocean Retail Group Ltd ($TWSE:5907)
Ocean Retail Group is a leading retailer in China with over 2,500 stores across the country. The company offers a wide range of products and services, including food, clothing, and home goods. Ocean Retail Group has a market cap of 2.58B as of 2022 and a return on equity of 2.84%. The company has a strong presence in China’s retail market and is well-positioned to continue growing its business in the future.
– Shirble Department Store Holdings (China) Ltd ($SEHK:00312)
Shirble Department Store Holdings (China) Ltd is a department store chain in China. The company operates stores in Beijing, Shanghai, and Guangzhou. It offers a wide range of merchandise, including apparel, cosmetics, home furnishings, and electronics. The company also operates an online store.
Shirble Department Store Holdings (China) Ltd has a market cap of 224.55M as of 2022. The company has a Return on Equity of -11.94%. The company’s market cap and ROE are both below the industry average. This may be due to the company’s high debt levels. The company’s debt-to-equity ratio is 0.61, which is higher than the industry average of 0.54.
The company’s market cap and ROE may improve in the future as the company expands its store base and online presence.
Summary
CONTAINER STORE reported their first quarter FY2024 earnings on June 30 2023, with total revenue of 207.1 million, down 21.1% from the prior year. Net income for the quarter was a loss of 11.8 million, compared to a profit of 10.5 million in the prior year. Investors should consider how the company plans to address declining revenue and rising expenses in order to improve profitability and remain competitive in the market. Furthermore, a closer look at the company’s financials, such as cash flow, balance sheet and debt levels, could provide valuable insight into their future prospects.
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