First quarter sales at The Container Store were up 7%, driven by strong comparable store growth and a double-digit increase in revenue from its custom closets business.
In addition, officials with the home specialty retailer announced that the company has opened its first Custom Closets store located in Los Angeles.
Consolidated net sales for the quarter ended June 29 were $209.5 million, up from sales of $195.8 million in the comparable quarter the previous year.
Consolidated net loss for the quarter was $4.1 million, or $0.08 per share, compared to a consolidated net loss of $6.8 million, or $0.14 per share, for the same quarter the previous year.
Melissa Reiff, CEO with The Container Store, said the retailer’s reinvigorated marketing campaigns and refreshed merchandise assortment across its core Custom Closets business and other product categories, resonated with shoppers in-store and online.
Comparable store sales for the quarter were up 7.8% with revenue from its custom closets business up 11.1%.
In addition, The Container Store also announced the opening of its first Custom Closets store. The new store follows the launch of the company’s fourth closet line, Avera, which was recently added to its custom closet assortment, which includes Elfa Classic, Elfa Decor and Laren.
According to the company, the objective of the new store is to make it easy for customers, both in the design community and everyday shoppers, to better understand and visualize the breadth of custom opportunities through more than 65 closet and lifestyle displays and a personalized design experience.
Free in-home design will be a service available at this location, which includes a design consultation and professional measurements to ensure the solution will best fit the space and customer needs.
“This is an immense opportunity for our brand as this new store concept signifies our direction and our intense focus on custom closets,” said Reiff. “Our goal is to take what we do best and further strengthen our offerings to become the go-to custom closets resource for every size, style and budget.”