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Container Store narrows FY'17 outlook

The Container Store Group Inc. on Feb. 6 revised adjusted its EPS forecast for fiscal 2017 ending March 2018 to a range of 31 cents to 37 cents from the previously issued EPS guidance range of 30 cents to 41 cents. Expected GAAP EPS, however, was raised to a range of 60 cents to 66 cents from 11 cents to 22 cents.

Net sales forecast for fiscal 2017 was also revised, to a range of $850 million and $860 million from $845 million to $865 million.

For the fiscal third quarter of 2017, the Texas-based storage products company said its net sales jumped 3.1% year over year to $223.0 million from $216.4 million in the comparable period a year ago.

Adjusted EPS in the quarter was 11 cents, lower than the S&P Capital IQ consensus normalized EPS estimate of 13 cents. Comparable store sales also fell 0.2% for the third quarter ended Dec. 30, 2017. Consolidated adjusted net income in the quarter totaled $5.1 million, lower than the adjusted net income of $5.2 million reported in the year-ago period and the S&P Capital IQ consensus estimate of $6.1 million.