Tile Shop Holdings: Slides on bigger-than-expected Q4 loss
19/02/2019 16:57
** Tile retailer's shares TTS.O down 16 pct at $6.25; Set
for worst day since Feb. 21, 2018
** Company posts bigger-than-expected Q4 loss of 2 cents/shr
vs est of 1 cent loss, its first earnings miss in 4 quarters,
according to IBES data from Refinitiv urn:newsml:reuters.com:*:nGNX6LPgbq
** TTS's FY 2019 gross margin forecast of 69-70 pct, also
slightly below est of 70.2 pct; Company's 2018 FY gross margin
was 70.4 pct
** Lack of revenue/EPS outlook for 2019 is "disappointing" -
Telsey Advisory Group analyst Joseph Feldman
** Company, in post-earnings conf call, also notes negative
impact on January sales from weather-related store closures, and
issues related to product shipment to store and POS processing
** As a result, TTS expects low single digit comparable
sales growth in Q1 vs est of 5.3 pct growth
** Up to Friday's close, TTS had risen ~36 pct this year
(Reporting by Soundarya J in Bengaluru)
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soundarya.j.thomsonreuters.com@reuters.net))