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Container Store (The) stock price
Container Store (The) latest news:
Container Store shares rally on adjusted earnings, revenue beat
Shares of the Container Store Group Inc. jumped more than 13% late Tuesday after the retailer reported double its expected adjusted earnings for the fiscal second quarter and larger-than-expected quarterly sales. Container Store said it lost $875,000, or 2 cents a share, versus earnings of $3.5 million, or 7 cents a share, in the second quarter of fiscal 2016. Adjusted for one-time items, the company earned 12 cents a share, compared with 8 cents a year ago. Net sales rose to $218.4 million, up 6.5% from $205 million. Net sales in The Container Store retail business rose 7% including an estimated $1.4 million in lost sales associated with Hurricanes Harvey and Irma, the company said in a statement. Comparable-store sales rose 2%, including hurricane impact. Analysts polled by FactSet had expected adjusted earnings of 6 cents a share on sales of $217 million.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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