Container Store Q2 Misses EPS, Sales Estimates; Narrows Same-store Fiscal 2015 Outlook

The Container Store Group Inc. said Monday that second quarter 2015 earnings per share were 6 cents for the period ending Aug. 29, down from 14 cents for the same period in 2014. Net sales for the quarter were $195.5 million, up from $193.2 million. Both figures missed Factset consensus estimates of 7 cents per share and $197.7 million in sales. Same-store sales were up 0.1% compared to the same period in 2014. The FactSet consensus was a decline of 0.7%. Net income for the quarter was $2.67 million down from $6.96 million the previous year. The company narrowed its fiscal 2015 same-store sales outlook to between -1% and 0% from -2% and 0%. The company is maintaining its net earnings per share outlook of between 30 cents and 38 cents per share. The Container Store stock is down 8.6% for the the past three months. The S&P is down 4.3% for the same period. Container Store stock is down 4.4% in after hours trading.