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Container Store (The) stock price
Container Store (The) latest news:
The Container Store adjusts guidance after loan amendment
The Container Store Group Inc. said Monday that there will be charges and expenses tied to an amendment of its loan agreement. As a result, the retailer has adjusted its guidance for fiscal 2017. The amendment extends the maturity date to Aug. 18, 2021, with an increase to interest rate margin for LIBOR loans to 7% and for base rate loans to 6%. The principal amount of the loan has been lowered to $300 million. The Container Store expects to incur about $7 million of incremental interest expense, for a total of $25 million, and debt extinguishment costs of about $2 million. Fiscal 2017 earnings are expected to be 13 cents to 23 cents per share, and adjusted EPS is expected to be 27 cents to 40 cents. The FactSet EPS consensus is 38 cents. The Container Store shares are unchanged in premarket trading, and down 32.1% for the year so far. The S&P 500 index is up 8.3% for 2017 to date.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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