The Container Store Group Inc (NYSE:TCS) shares jumped in premarket trading after the company swung to a profit in its fiscal fourth-quarter results late Tuesday.
Net income increased to $15.9 million, or $0.33 per share, from a loss of $399,000, or $0.01 per share, in the year-ago quarter. That came in ahead of Street expectations of $0.30. Overall, revenue climbed 8.8% to $253.2 million, beating expectations of $244 million.
The stock jumped nearly 12% to $9.53 before the bell Wednesday but investors backed off in the regular session, sedning shares about 6% lower to $7.99.
The results were driven by a 10% growth in retail sales, particularly among its Custom Closets stores. The closet storage chain saw same-store sales increase 7.4%. Overall, same-store sales grew ny 8.5% in the period.
The Coppell, Texas company expects net sales between $915 million and $925 million for fiscal 2019 and adjusted EPS between $0.41 and $0.51. Analysts expect an average of $909.5 million in revenue and EPS of $0.45.
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