Shares of home organization retailer The Container Store (NYSE: TCS) rose 18% out of the gate on Oct. 21. COVID-19 has left consumers stuck hiding at home and largely out of physical stores. The company's fiscal first-quarter results highlighted the issue, with overall sales down 27.6% year over year but online sales up nearly 200%.
Speaking today are Melissa Reiff, Chairwoman and Chief Executive Officer; and Jeff Miller, Chief Financial Officer. After Melissa and Jeff have made their formal remarks, we will open the call to questions. Before we begin, I need to remind you that certain comments made during this call regarding our plans, strategies, expectations regarding liquidity and goals, our anticipated financial performance and our plans in response to COVID-19 and the potential impact of COVID-19 on our business may constitute forward-looking statements and are made pursuant to and within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.
The Container Store Group, Inc. (NYSE: TCS) shares are trading higher after the company reported fiscal second-quarter earnings of 41 cents per share, up from 8 cents year-over-year. The company reported quarterly sales of $248.20 million, which beat the analyst consensus estimate of $216.45 million by 14.6%.The company also announced it's launching an exclusive co-branded collection of organizing tools by Marie Kondo.The Container Store has seen a lot of interest after Netflix, Inc. (NASDAQ: NFLX) started streaming episodes of "Get Organized With the Home Edit," a show based on an extreme organization book by Clea Shearer and Joanna Tepin called "The Home Edit."View more earnings on TCSSee Also: Container Store's Stock Is Getting A Netflix 'Home Edit' BoostThe Container Store Group operates as a retailer of storage and organization products and solutions in the United States. It operates through two segments, The Container Store and Elfa. The company provides approximately 11,000 products designed to help customers.The Container Store's stock was trading up 15.39% at $11.62 on Tuesday afternoon. The company set a new 52-week high of $11.86 in after-hours trading and has a 52-week low of $1.80.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Jason Snipe Gives His Bullish Thoughts On Wayfair, AutoZone * Tom Keane Discusses Microsoft's Recent Partnership With SpaceX(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.