The Container Store

The Container Store Group, Inc. Announces Additions to the Board of Directors

Retrieved on: 
Thursday, March 7, 2024

Stuckey and Tyson will replace vacancies left by Bob Jordan and Jon Sokoloff when their terms expired in August 2023.

Key Points: 
  • Stuckey and Tyson will replace vacancies left by Bob Jordan and Jon Sokoloff when their terms expired in August 2023.
  • "We are very pleased to welcome Karen and Charles to our Board of Directors,” said The Container Store Chairperson of the Board, Lisa Klinger.
  • Tyson joins the Board as a Class I Director and will serve on the Culture and Compensation Committee.
  • He is currently the CEO and President of LL Flooring and a member of its Board of Directors.

The Container Store to Open First Gaithersburg, Maryland Location

Retrieved on: 
Tuesday, February 27, 2024

This will be The Container Store’s fourth store opening in fiscal 2023 ending March 31, 2024, and third location in Maryland.

Key Points: 
  • This will be The Container Store’s fourth store opening in fiscal 2023 ending March 31, 2024, and third location in Maryland.
  • The newest addition to The Container Store fleet is the seventh small-store format nationwide and the first of its size in Maryland.
  • From metal DIY to professionally installed wood-based systems, The Container Store has a custom offering for every space, style and budget.
  • The Container Store plans to open one more location before the end of its fiscal year later this month in Huntington, NY.

The Container Store Group, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, February 6, 2024

The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced its financial results for the third quarter of fiscal 2023 ended December 30, 2023.

Key Points: 
  • The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced its financial results for the third quarter of fiscal 2023 ended December 30, 2023.
  • For the third quarter of fiscal 2023:
    Consolidated net sales were $214.9 million, down 14.8%, compared to the third quarter of fiscal 2022.
  • Net sales in The Container Store retail business (“TCS”) were $202.5 million, down 15.4% compared to the third quarter of fiscal 2022.
  • Adjusted EBITDA* was $12.8 million in the third quarter of fiscal 2023 compared to $22.2 million in the third quarter of fiscal 2022.

The Container Store Selects American Heart Association as National Nonprofit Partner for 2024

Retrieved on: 
Thursday, January 25, 2024

The Container Store Group, Inc. (the “Company”) has selected the American Heart Association (the “Association”), the world’s leading nonprofit organization focused on heart and brain health for all, as its national nonprofit partner.

Key Points: 
  • The Container Store Group, Inc. (the “Company”) has selected the American Heart Association (the “Association”), the world’s leading nonprofit organization focused on heart and brain health for all, as its national nonprofit partner.
  • “We identified the American Heart Association as a partner with a cause that aligns with our brand purpose of transforming lives through the power of organization and the positive impact it has on a person’s wellbeing.
  • The Container Store’s additional efforts throughout 2024 will include:
    “Life is Why campaigns make such a big impact on the mission of the American Heart Association,” said Susan Wetzel, American Heart Association Dallas board member and 2024 Go Red for Women co-chair.
  • “With the work of American Heart Association and the support of The Container Store through their Life is Why campaign, we can continue to give families more memories with their loved ones,” said Stacy Nahas, American Heart Association Dallas board member and 2024 Go Red for Women co-chair.

CI&T Releases 2024 Connected Retail Report

Retrieved on: 
Wednesday, January 10, 2024

According to the report, 80% of consumers have changed their shopping habits due to the economy.

Key Points: 
  • According to the report, 80% of consumers have changed their shopping habits due to the economy.
  • In its fourth year examining consumers' evolving attitudes and behaviors, the Connected Retail Report shows that consumers have a strong preference for omnichannel retailers and the same set of criteria for both offline and online retail experiences.
  • Minkow will be sharing insights from CI&T’s Connected Retail Report at NRF 2024: Retail’s Big Show in a session with Domino’s Pizza on Tuesday, January 16 from 10:15-11:00 am ET.
  • By uncovering key motivations along the path to purchase, the survey bolstered our criteria for determining the most exciting digital retail strategies.

The Container Store Group, Inc. Provides Business Update Ahead of 2024 ICR Conference Presentation

Retrieved on: 
Monday, January 8, 2024

The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today provided an update on its third quarter fiscal 2023 outlook in advance of its presentation and investor meetings at the 2024 ICR Conference.

Key Points: 
  • The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today provided an update on its third quarter fiscal 2023 outlook in advance of its presentation and investor meetings at the 2024 ICR Conference.
  • The Company is still finalizing its quarterly closing procedures, but expects its profitability for the quarter to be negatively impacted by the sales shortfall.
  • Satish Malhotra, Chief Executive Officer and President of The Container Store, commented, “The challenging business trends we experienced in the second quarter continued.
  • We remain focused on maximizing the potential of Custom Spaces as we manage the challenges in our general merchandise business.

The Container Store Group, Inc. Announces Two Leadership Promotions

Retrieved on: 
Thursday, December 21, 2023

Both leaders will report directly to the CEO and President, Satish Malhotra, and serve on the Company’s executive leadership team.

Key Points: 
  • Both leaders will report directly to the CEO and President, Satish Malhotra, and serve on the Company’s executive leadership team.
  • Rawlinson joined The Container Store in 2021 with more than 20 years of experience in digital retail.
  • Pape joined The Container Store in 2015 and has held several leadership positions managing store operations and customer experience, which has contributed to the Company’s strong retail net promoter scores.
  • I’m confident in the executive leadership team we have in place as we continue to make progress on our path to $2 billion in revenue.”

The Container Store Moves Strategic Priority Forward with the Opening of its 100th Retail Location

Retrieved on: 
Monday, December 18, 2023

The 100th store is the sixth small-format store the Company has opened to date and one of five anticipated to open in its fiscal 2023 ending March 30, 2024.

Key Points: 
  • The 100th store is the sixth small-format store the Company has opened to date and one of five anticipated to open in its fiscal 2023 ending March 30, 2024.
  • “Opening our 100th store is a significant milestone as we execute our strategic priority of Expanding Our Reach and continue to unlock our long-term growth potential,” said CEO and President of The Container Store, Satish Malhotra.
  • “We continue to be pleased with the productivity of our small-format stores, specifically with the faster adoption of Custom Spaces, which is a key component of future sales growth for The Container Store.
  • At the end of our second quarter, this adoption was averaging 39% of sales per store.

CARAWAY EXPANDS PARTNERSHIP WITH THE CONTAINER STORE; LAUNCHES FULL SUITE OF PRODUCTS AT ALL U.S. LOCATIONS & ONLINE

Retrieved on: 
Tuesday, November 14, 2023

NEW YORK, Nov. 14, 2023 /PRNewswire/ -- Caraway, the brand leader in non-toxic coated cookware and design-forward kitchenware, is today announcing a rollout at all locations of The Container Store (NYSE: TCS) across the country as well as an expanded online assortment. This partnership will offer the widest array of Caraway products in a retailer to date and Caraway's cookware is the first to be sold in The Container Store, demonstrating the retailer's focus on strategic growth categories that complement its core assortment of storage and organization and Custom Spaces.

Key Points: 
  • "We are thrilled to team up with The Container Store to expand our program together and introduce our entire collection of modern kitchenware products to new customers across the country", says Caraway Founder Jordan Nathan.
  • Caraway originally teamed up with The Container Store in October 2022, when the Cookware Set launched in 5 stores, and the Cookware Set, Bakeware Set, and Kettle launched online.
  • Additionally, all of Caraway's products, including Cookware, Bakeware, Food Storage, and a Tea Kettle, will be launching nationwide at all brick and mortar locations of The Container Store.
  • A testament to the brand's unparalleled modern premium designs, several new launches and colorways have been known to sell out within hours.

The Container Store Group, Inc. Announces Second Quarter 2023 Financial Results

Retrieved on: 
Tuesday, October 31, 2023

The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced its financial results for the second quarter of fiscal 2023 ended September 30, 2023.

Key Points: 
  • The Container Store Group, Inc. (NYSE: TCS) (the “Company”), today announced its financial results for the second quarter of fiscal 2023 ended September 30, 2023.
  • Consolidated depreciation and amortization increased 8.7% to $10.4 million in the second quarter of fiscal 2023 from $9.5 million in the second quarter of fiscal 2022.
  • The effective tax rate was (2.6)% in the second quarter of fiscal 2023, as compared to 25.9% in the second quarter of fiscal 2022.
  • Adjusted EBITDA* was $17.0 million in the second quarter of fiscal 2023 compared to $35.9 million in the second quarter of fiscal 2022.