The Container Store Group Revises FY23 EPS From $0.05-$0.15 To $(0.24)-$(0.13) Vs $(0.08) Est.; Revenue From $875M-$890M To $870M-$885M Vs $878.47M Est.
Portfolio Pulse from Benzinga Newsdesk
The Container Store Group has revised its FY23 EPS from $0.05-$0.15 to $(0.24)-$(0.13) and its revenue from $875M-$890M to $870M-$885M. The company also provided its financial outlook for the fiscal third quarter ending on December 30, 2023, and the full year ending March 30, 2024. The company plans to open four new small format stores in the remainder of fiscal 2023 and four new stores in fiscal 2024.
October 31, 2023 | 8:14 pm
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NEGATIVE IMPACT
The Container Store Group's downward revision of its FY23 EPS and revenue could negatively impact its stock price in the short term.
The Container Store Group's downward revision of its FY23 EPS and revenue indicates a weaker financial performance than previously expected. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100