Container Store (TCS) Moves 5.9% Higher: Will This Strength Last?
Container Store Group TCS shares ended the last trading session 5.9% higher at $5.38. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.4% loss over the past four weeks.
Shares of The Container Store have gained owing to robust customer response for its Avera Premium Closets event, which has been aiding sales. As part of the event, customers were required to be part of the company’s loyalty program to be eligible for a discount. Continued momentum in in Custom Closets bodes well. Also, strength in its kitchen, office and bath categories remain key growth drivers. Driven by these factors, management remains well placed to attain $2 billion in sales by the end of fiscal 2027.
This storage products retailer is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -55.6%. Revenues are expected to be $282.77 million, up 2.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Container Store, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TCS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Container Store belongs to the Zacks Consumer Products - Discretionary industry. Another stock from the same industry, Genius Brands International, Inc. GNUS, closed the last trading session 2.9% higher at $0.62. Over the past month, GNUS has returned -2.4%.
Genius Brands International, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents no change. Genius Brands International, Inc. currently boasts a Zacks Rank of #3 (Hold).
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