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.

According to Kip Tindell, CEO of The Container Store, its custom closet line TCS was a key driver in sales performance for the company in the fourth quarter. However the company announced several new cost-cutting measures including a wage freeze and a reduction in payroll.

Container Store's wood-look textured laminate TCS Closets line continues to be one of the home organization retailer's bright spots, with better than expected growth for the quarter. Container Store plans to expand the product collection beyond closets to home storage areas. Ten new stores are planned.

Company delivers $0.07 in Adjusted Diluted Earnings Per Share; Communicates Fourth Quarter-to-Date Comp Store Sales Increase of 2.7%1; On Target for 12% Square Footage Growth in Fiscal 2014 and 2015

The Container Store will debut TCS Closets, a line of high-end closet systems this fall that CEO Kip Tindell says is "the most significant merchandizing initiative in our history." A pilot launch in seven Dallas area stores starts in November.