CONTAINER STORE Reports First Quarter Earnings Results for FY2024
August 21, 2023
🌥️Earnings Overview
The CONTAINER STORE ($NYSE:TCS) reported financial results for the first quarter of FY2024 on August 1 2023, with total revenue standing at USD 207.1 million, representing a year-over-year decrease of 21.1%. Net income for the quarter was reported as USD -11.8 million, compared to the previous year’s figure of 10.5 million.
Share Price
The stock opened at $3.7 and closed at $3.7, marking a 0.3% increase from the last closing price of 3.7. This increase was mainly driven by strong growth in online sales, which accounted for nearly half of all sales during the quarter. Despite the challenging economic conditions, CONTAINER STORE managed to post solid financial results for the first quarter. The company is optimistic that they will be able to maintain their positive momentum going forward in fiscal year 2024. 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
At GoodWhale, we conducted a financial analysis of CONTAINER STORE and have determined that it is a medium risk investment in terms of financial and business aspects. We generated an overall risk rating based on the company’s financial statements, and have identified two risk warnings in both its income sheet and balance sheet. By diving deeper into the financials of CONTAINER STORE, we can see that it is a stable company with a relatively low chance of defaulting on loans and/or going bankrupt. However, our analysis has identified two risk warnings that should be closely assessed prior to investing. These risks come from a combination of factors such as the company’s debt load, profitability, and asset liquidity. If you’re interested in learning more about the financials of CONTAINER STORE, it’s easy to explore further on GoodWhale.com. Our platform provides detailed analysis of the company’s key financials for easy comparison to other businesses in the sector. Register now to see our full risk rating for CONTAINER STORE and get notified when new risk warnings are detected. 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
Investing in CONTAINER STORE is a risky venture given the company’s poor financial performance in the first quarter of FY2024. Total revenue decreased by 21.1% year over year, and net income reported was negative at USD -11.8 million compared to the prior year’s figure of 10.5 million. There is potential for long-term growth, but investors should proceed with caution due to the recent reports of weak financial performance.
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