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The Container Store Completes Initial Public Offering

Thursday November 7th, 2013 - 12:11PM


The Container Store, which began trading stocks on the New York Stock Exchange on Nov. 1 under the symbol TCS, completed it initial public offering of 14,375,000 shares of common stock at the price of $18.

In conjunction with its IPO, the Coppell-based retailer has appointed four new directors to its board. Robert E. Jordan, executive vice president and chief commercial officer of Southwest Airlines and president of AirTran Airways; Danny Meyer, CEO of Union Square Hospitality Group; Walter Robb, co-CEO of Whole Goods Market; and Rajendra Sisodia, FW Olin Distinguished Professor of Global Business at Babson College, will serve on the company’s board.

On its first day of trading, The Container Store’s opening price jumped to $35, which is almost double what it set in its IPO. The company’s shares hit a high of $36.74 that day and closed at $36.19. Its shares closed at $35.90 on Wednesday.