COPPELL, Texas - The Container Store launched a pilot program for its elfa Sliding Doors. The company is also seeing a growth in sales driven by its luxury TCS Closets line.
“We believe we are making progress on many fronts to evolve our customer shopping experience in order to improve sales and profitability,"said Melissa Reiff, Chief Executive Officer. "Our new customer financing program, while still in its infancy, is driving incremental sales, and our TCS Closets line drove 200 basis points of comparable store sales growth this quarter. We are also working on mid- and long-term goals, strategies and priorities while we simultaneously execute near-term initiatives such as the pilot of elfa Sliding Doors in our two Manhattan stores.”
Second quarter net sales were $205.1 million, up 0.3% and The Container Store is cautiously optimistic about the second half of the year. Company executives also noted a positive impact from foreign currency exchange rates and lower healthcare costs during the first half of fiscal 2016.
The Container Store opened two new stores in the second quarter of fiscal 2016, has opened two new stores in the third fiscal quarter-to-date and has plans to open two additional locations in the remainder of the third fiscal quarter. The company had 82 stores at the end of the second quarter of fiscal 2016, as compared to 75 as of October 3, 2015.
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