Container Store (TCS) stock fell greatly on Friday following the release of its Q3 2015 earnings report.
Container Store reported losses per share of 4 cents for the third quarter of 2015. This was down from the earnings per share of 7 cents that it reported during the same time the year prior. It also failed to meet EPS expectations of 5 cents per share set by analysts.
Container Store’s reported revenue for Q3 2015 came in at $197.2 million. This is an increase over the $190 million that it reported in Q3 of 2014. However, this failed to meet the revenue estimates from Wall Street, which were set at $199.6 million.
Container Store also updated its outlook for fiscal 2015 in its most recent earnings report. It’s now expecting 2015 revenue to fall between $785 million and $795 million. Earnings per share for the year are expected to range from 10 cents to 13 cents. These are both decreases from previous expectations.
TCS shares were down 41% as of Noon Friday.
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