Container Store Group Q1 Loss Narrows; Cuts FY14 Outlook - Quick Facts

(RTTNews) - The Container Store Group, Inc. (TCS) Tuesday posted first-quarter net loss available to common shareholders of $3.6 million or $0.07 per share, narrower than $27.1 million or $9.25 per share in the comparable quarter last year.

Adjusted loss for the quarter widened to $3.6 million from $3.2 million in the prior year period. Loss per share for the latest quarter was $0.07, same as last year. On average, nine analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Sales improved 8.6 percent to $173.44 million from $159.65 million last year. Analysts expected sales of $174.21 million. Comparable store sales declined by 0.8 percent over last year.

Looking ahead to the fiscal 2014, the company now expects earnings to be in the rage of $0.49 to $0.54 per share and revenues of $820 million to $830 million. Analysts now expect fiscal 2014 earnings of $0.57 per share on revenue of $830.98 million.

Earlier, the company expected earnings to be in the rage of $0.56 to $0.61 per share and revenues of $827 million to $837 million.