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Container Store stock up 7% after record sales for retailer

Economy, Finance

Shares of Container Store Group Inc. rose 7% in the extended session Tuesday after the retailer said its fiscal second-quarter results hit records and there’s “great oppportunity” to double its business over time. The specialty retailer said it earned $27.2 million, or 54 cents a share, in the quarter, compared with $20.2 million, or 41 cents a share, a year ago. Adjusted for one-time items, the company earned 54 cents a share. Sales rose 11% to $276 million, the company said. FactSet consensus called for adjusted EPS of 29 cents a share on sales of $261 million. “Our results reflect continued momentum as we delivered record-breaking fiscal second quarter performance on both the top and bottom line,” Chief Executive Satish Malhotra said in a statement. “As we look ahead, we continue to see great opportunity to double the size of our business over time, and the progress we are making against our strategic initiatives has us firmly on the path to achieving our goals.” Shares of Container Store ended the regular trading day down 1%.

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