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Container Store Q4 profit drops; will open nine new stores
Coppell, Texas – Higher selling, general and administrative (SG&A expenses) helped drive down net income at The Container Store Inc. during the fourth quarter of fiscal 2014, and the retailer expects open nine new stores and relocate one store during fiscal 2015. The Container Store reported net income of $13 million, down 29% from $18.3 million in the same quarter the prior year.
Net sales totaled $224.26 million, up 3% from $216.82 million. Same-store sales dropped 0.8%.
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Mother’s Day spend to grow 2%
New York – Consumers might be a little nicer to Mom this year than last year. IBISWorld expects total Mother’s Day spending to reach $20.8 billion, representing an increase of 2% from 2014 spending, and an annualized increase of 6.5% since 2010.
Average household spending on Mother’s Day is also set to grow, with the standard family shelling out an estimated $169.21, representing a 4% increase from the 2014 average.

