Tile Shop Holdings: Pieces together a rally on Q1 profit beat, reaffirmed outlook
19/04/2018 15:51
** Tile Shop Holdings TTS.O top S&P Small Cap index
.SPCY gainer as co posts a narrow profit beat and reaffirms
2018 outlook
** Stock jumped >18 pct in early trade, breaking back above
its 50-DMA (at $6.19) for first time since Jan 31; volume brisk,
already 1.3x the 30-DMA
** Tile retailer misses on top line but adj EPS of 8 cents
beats Street consensus by a penny, helped by increased gross
margins urn:newsml:reuters.com:*:nGNX2mh26c
** Co says eliminated promotions and added new products to
assortment; reiterates capital investment for the year of approx
$27-$32 mln, including remodeling about 30 stores
** TTS shares tumbled to record low of $5.15 in Feb
following co's weak Q4 results, which were hurt by weak traffic
and charge taken due to new U.S. tax reform
** Stock recently up ~7 pct at $6.08. Still, shares are down
70 pct over past one year
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))