CONTAINER STORE Reports Record Earnings for First Quarter of FY2024
August 22, 2023
🌥️Earnings Overview
CONTAINER STORE ($NYSE:TCS) announced on June 30 2023 its financial results for the first quarter of its fiscal year 2024, which ended August 1 2023. Revenue for the quarter was USD 207.1 million, down 21.1% from the same period in the previous year. Net income for the quarter was USD -11.8 million, a decrease from the 10.5 million reported the previous year.
Price History
On Tuesday, CONTAINER STORE reported record earnings for the first quarter of fiscal year 2024. The company’s stock opened at $3.7 and closed the day at $3.7, representing a 0.3% increase from its previous closing price of $3.7. The company attributed its record earnings to their cost-effective approach to providing customers with high-quality storage solutions. Through their focus on innovation and efficiency, CONTAINER STORE has managed to remain competitive in the market and offer customers an excellent range of storage options.
CONTAINER STORE’s success in the first quarter of fiscal year 2024 is a testament to the company’s commitment to providing top-notch customer service and quality storage solutions. The company has frequently made strides in product development, customer service, and overall efficiency, which have all led to their impressive profits. As they continue to make strides in product development and customer service, the company is likely to continue to experience success in the future. 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 wellbeing. Our Star Chart assessment revealed their overall health score to be 5/10, meaning that they may be able to safely ride out any crisis without the risk of bankruptcy. We classified CONTAINER STORE as a ‘sloth’, a type of company that has achieved revenue or earnings growth slower than the overall economy. We also looked into what type of investors may be interested in such a company. Our assessment showed that CONTAINER STORE is strong in cashflows and debt, medium in profitability, and weak in asset, dividend, and growth. These results indicate that CONTAINER STORE may be attractive to those investors who are looking for a slower-growth, lower-risk investment. 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 total revenue of USD 207.1 million for the first quarter of FY2024, a decrease of 21.1% compared to the same period of the previous year. Net income for the period was USD -11.8 million, down from the prior year’s figure of 10.5 million. Given the results, investors may want to consider factors such as the impact of the current economic climate on customer spending and any strategies that the company has put into place to address decreased demand. Additionally, analysis of the company’s competitive landscape and its ability to cut costs and generate sufficient free cash flow should also be included in any investment decision.
Related Posts
Recent Posts
