Home Organization Giant The Container Store To Go Public

Posted by Michaelle Bradford | Posted: 10/02/2013 9:32AM

 

The Container Store COPPELL, TX — Home organization retailer The Container Store filed with the SEC for a proposed $200 million public stock offering. The stock would trade on the New York Stock Exchange at TCS.

Started in 1978, The Container Store has experienced tremendous growth over the past few years with  an average store size of 19,000 square feet and more than 10,500 products -- closet, kitchen, office and laundry room storage items -- stocked in each store. 

The Container Store CEO Discusses Business Growth

According to the Wall Street Journal, the proposed IPO will raise up to $200 million in dividend payments for preferred stock holders.

Net sales for fiscal year 2012 were over $700 million, up 11.5%, and it has maintained 13 consecutive quarters of positive same-store sales. A significant part of its net sales, $94 million, is for Elfa, a Swedish-based designer and manufacturer of component shelving and drawer systems for the closet, kitchen, offices and garages. Sales of the Elfa brand represented close to 13% of the company’s total net sales.

The Container Store has approximately 5,100 employees and 61 retail outlets in 22 states and the District of Columbia.

 

About the Author

Michaelle Bradford

Michaelle Bradford is Managing Editor of Closets magazine, Custom Woodworking Business magazine, Wood Products magazine and Custom Built Interiors Weekly eNewsletter. She can be reached at mbradford@woodworkingnetwork.com or Google+.

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