The Container Store's profits pop in Q2, new service to roll out in DFW

The Container Store Group Inc. reported that it made $6.96 million, or 14 cents per share, on $193.25 million in sales during its second quarter.

The Coppell-based organizational products retailer beat analysts' estimates, which averaged 11 cents per share. This compares to a profit of $4.11 million on $183.77 million during the same quarter last year.

Same store sales were down 0.4 percent.

The company credited a jump in average ticket growth and new store growth to the increase in earnings. So far this fiscal year, The Container Store (NYSE: TCS) has opened five new stores and plans to open three more to achieve its goal of growing its footprint by at least 12 percent.

The retailer is also planning to launch TCS Closets, an exclusive collection of custom-built solutions, with the first seven stores targeted for Dallas/Fort Worth. The first stores will open in November. TCS Closets is slated to roll out to remaining stores by then end of 2015. The company expects the new service to have an average ticket of more than $2,000.

It also announced that its new loyalty program, Perfectly Organized Perks, has reached nearly 1 million customers since it launched in July. Its Contained Home, previously known as AtHome, provides shoppers in Dallas, Houston, Austin, Manhattan and Los Angeles customized design and organization. It has plans to rollout in Washington D.C. in October, in Denver and San Antonio in November, and to all stores by the end of 2015.

Danielle covers technology, retail, restaurants and hospitality for the Dallas Business Journal. Subscribe to our email newsletters.

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