Company profile

Ticker
TCS
Exchange
CEO
Melissa Meyer Reiff
Employees
Location
Fiscal year end
Former names
TCS Holdings
SEC CIK
IRS number
260565401

TCS stock data

(
)

Calendar

21 Oct 20
26 Nov 20
3 Apr 21

News

Quarter (USD) Sep 20 Jun 20 Dec 19 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 20 Mar 19 Mar 18 Apr 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
19 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 10 53,811 538.11K 198,943
19 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 10 1,256,734 12.57M 4,646,261
19 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 10 4,189,455 41.89M 15,488,802
19 Nov 20 Sokoloff Jonathan D Common Stock, par value $0.01 Sell Dispose S No 10 5,500,000 55M 20,334,006
19 Nov 20 Timothy John Flynn Common Stock, par value $0.01 Sell Dispose S No 10 5,500,000 55M 20,334,006
19 Nov 20 John Kristofer Galashan Common Stock, par value $0.01 Sell Dispose S No 10 5,500,000 55M 20,334,006
17 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 9.92 3,777 37.47K 252,754
17 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 9.92 88,200 874.94K 5,902,995
17 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 9.92 294,024 2.92M 19,678,257
16 Nov 20 Green Equity Investors V Common Stock, par value $0.01 Sell Dispose S No 9.75 533 5.2K 256,531
84.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 95 75 +26.7%
Opened positions 27 10 +170.0%
Closed positions 7 10 -30.0%
Increased positions 20 21 -4.8%
Reduced positions 28 21 +33.3%
13F shares
Current Prev Q Change
Total value 295.96M 144.52M +104.8%
Total shares 42.73M 42.2M +1.3%
Total puts 46.2K 1.1K +4100.0%
Total calls 128.9K 1K +12790.0%
Total put/call ratio 0.4 1.1 -67.4%
Largest owners
Shares Value Change
Leonard Green & Partners 27.51M $170.82M 0.0%
BAC Bank of America 2.79M $17.34M -7.1%
Front Street Capital Management 2.54M $15.79M -2.7%
Dimensional Fund Advisors 1.4M $8.69M +3.8%
BLK BlackRock 1.3M $8.05M -4.6%
Vanguard 877.42K $5.45M -0.5%
Rutabaga Capital Management 734.87K $4.56M -42.8%
California Public Employees Retirement System 570.9K $3.55M 0.0%
Weber Alan W 519.95K $3.23M +10.6%
Bridgeway Capital Management 463.1K $2.88M +0.7%
Largest transactions
Shares Bought/sold Change
Rutabaga Capital Management 734.87K -549.05K -42.8%
Acuitas Investments 372.12K +372.12K NEW
BAC Bank of America 2.79M -213.61K -7.1%
Marshall Wace 181.27K +181.27K NEW
Millennium Management 157.81K +157.81K NEW
Trexquant Investment 136.03K +136.03K NEW
Susquehanna International 150.13K +123.08K +455.1%
IVZ Invesco 218.41K +122.57K +127.9%
STRS Ohio 0 -102.3K EXIT
D. E. Shaw & Co. 422.61K -71.51K -14.5%

Financial report summary

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Risks
  • Our business requires that we lease substantial amounts of space and there can be no assurance that we will be able to continue to lease space on terms as favorable as the leases negotiated in the past.
  • Costs and risks relating to new store openings could severely limit our growth opportunities.
  • Our operating results are subject to quarterly and seasonal fluctuations, and results for any quarter may not necessarily be indicative of the results that may be achieved for the full fiscal year.
  • Our costs may increase due to factors that may or may not be controllable by us, which may negatively affect our financial results.
  • Our business depends in part on a strong brand image. If we are not able to protect our brand, we may be unable to attract a sufficient number of customers or sell sufficient quantities of our products.
  • Our failure or inability to protect our intellectual property rights could diminish the value of our brand and weaken our competitive position.
  • If we are unable to source and market new products to meet our high standards and customer preferences or are unable to offer our customers an aesthetically pleasing and convenient shopping environment, our results of operations may be adversely affected.
  • If we fail to anticipate consumer preferences and demand, or to manage inventory commensurate with demand, our results of operations may be adversely affected.
  • Competition, including internet‑based competition, could negatively impact our business, adversely affecting our ability to generate higher net sales.
  • Our vendors may sell similar or identical products to our competitors, which could harm our business.
  • Our facilities and systems, as well as those of our vendors, are vulnerable to natural disasters and other unexpected events, and as a result we may lose merchandise, incur unexpected costs or be unable to effectively service our stores and online customers.
  • Material disruptions at one of our Elfa manufacturing facilities could negatively impact production, customer deliveries and overall financial results.
  • Our ability to obtain merchandise on a timely basis at competitive prices could suffer as a result of any deterioration or change in our vendor relationships or events that adversely affect our vendors or their ability to obtain financing for their operations, including COVID-19.
  • Product recalls and/or product liability, as well as changes in product safety and other consumer protection laws, may adversely impact our, merchandise offerings, reputation, results of operations, cash flow and financial condition.
  • We face risks related to operating two distribution centers.
  • We are subject to duties, tariffs and quotas associated with our dependence on foreign imports for our merchandise.
  • We rely upon independent third‑party transportation providers for substantially all of our product shipments and are subject to increased shipping costs as well as the potential inability of our third‑party transportation providers to deliver on a timely basis.
  • If we are unable to effectively manage our online sales, our reputation and operating results may be harmed.
  • We rely upon third-party web service providers to operate certain aspects of our business operations and any disruption of or interference with such operations would materially and adversely impact our business.
  • Material damage to, or interruptions in, our information systems as a result of external factors, working from home arrangements, staffing shortages and difficulties in updating our existing software or developing or implementing new software could have a material adverse effect on our business or results of operations.
  • We face risks related to our indebtedness, resulting in a high degree of leverage on cash flow from operations to pay back debt.
  • Our costs and financial results may change as a result of currency exchange rate fluctuations.
  • We will require significant capital to fund our expanding business, which may not be available to us on satisfactory terms or at all. If we are unable to maintain sufficient levels of operating cash flows, we may require additional financing which could adversely affect our financial health and impose covenants that limit our business activities.
  • Our fixed lease obligations could adversely affect our financial performance.
  • Disruptions in the global financial markets may make it difficult for us to borrow a sufficient amount of capital to finance the carrying costs of inventory and to pay for capital expenditures and operating costs, which could negatively affect our business.
  • Changes to global financial markets may make it difficult for us to predict our future interest expenses.
  • We depend on key executive management.
  • We have furloughed employees and there is uncertainty about their ability to return to work.
  • If we are unable to find, train and retain key personnel, including new employees that reflect our brand image and embody our culture, we may not be able to grow or sustain our operations.
  • Organized labor activities could cause labor relation issues and higher labor costs.
  • We could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti‑bribery and anti‑kickback laws.
  • There are claims made against us from time to time that may distract management from our business activities and result in significant liability or damage to our brand.
  • Changes in statutory, regulatory, accounting, and other legal requirements could potentially impact our operating and financial results.
  • Our total assets include intangible assets with an indefinite life, goodwill and trade names, and substantial amounts of long-lived assets. Changes in estimates or projections used to assess the fair value of these assets, or operating results that are lower than our current estimates, may cause us to incur impairment charges that could adversely affect our results of operation.
  • We may be subject to fluctuations in our tax obligations and effective tax rates and realization of our deferred tax assets, including net operating loss carryforwards, may result in volatility of our operating results.
  • If third parties claim that we infringe upon their intellectual property rights, our operating results could be adversely affected.
  • Our common stock price may be volatile or may decline.
  • If our operating and financial performance in any given period does not meet the guidance that we provide to the public, our stock price may decline.
  • We are controlled by investment funds managed by Leonard Green and Partners, L.P. (“LGP”), whose interests in our business may be different from yours.
  • We are a “controlled company” within the meaning of The New York Stock Exchange listing requirements and as a result, qualify for and intend to rely on exemptions from certain corporate governance requirements. You do not have the same protection afforded to shareholders of companies that are subject to such corporate governance requirements.
  • Substantial future sales of our common stock, or the perception in the public markets that these sales may occur, may depress our stock price.
  • Failure to maintain effective internal controls in accordance with Section 404 of the Sarbanes‑Oxley Act could have a material adverse effect on our business and stock price.
  • We do not currently expect to pay any cash dividends.
  • We incur costs as a public company and our management is required to devote substantial time to compliance matters.
  • Our anti‑takeover provisions could prevent or delay a change in control of our Company, even if such change in control would be beneficial to our shareholders.
  • The provision of our certificate of incorporation requiring exclusive venue in the Court of Chancery in the State of Delaware for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.
Management Discussion
  • Additionally, this Management’s Discussion and Analysis also refers to Elfa third-party net sales after the conversion of Elfa’s net sales from Swedish krona to U.S. dollars using the prior year’s conversion rate. The Company believes the disclosure of Elfa third-party net sales without the effects of currency exchange rate fluctuations helps investors understand the Company’s underlying performance.
  • EBITDA and Adjusted EBITDA are included in this Quarterly Report on Form 10-Q because they are key metrics used by management, our board of directors and LGP to assess our financial performance. In addition, we use Adjusted EBITDA in connection with covenant compliance and executive performance evaluations, and we use Adjusted EBITDA to supplement GAAP measures of performance to evaluate the effectiveness of our business strategies, to make budgeting decisions and to compare our performance against that of other peer companies using similar measures. We believe it is useful for investors to see the measures that management uses to evaluate the Company, its executives and our covenant compliance, as applicable. EBITDA and Adjusted EBITDA are also frequently used by analysts, investors and other interested parties to evaluate companies in our industry.
  • EBITDA and Adjusted EBITDA are not GAAP measures of our financial performance or liquidity and should not be considered as alternatives to net income (loss) as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP and they should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Additionally, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow for management’s discretionary use, as they do not reflect certain cash requirements such as tax payments, debt service requirements, capital expenditures, store openings and certain other cash costs that may recur in the future. EBITDA and Adjusted EBITDA contain certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized. In evaluating Adjusted EBITDA, you should be aware that in the future we will incur expenses that are the same as or similar to some of the adjustments in this presentation, such as pre-opening costs and stock compensation expense. Our presentation of Adjusted EBITDA should not be construed to imply that our future results will be unaffected by any such adjustments. Management compensates for these limitations by relying on our GAAP results in addition to using EBITDA and Adjusted EBITDA supplementally. Our measures of EBITDA and Adjusted EBITDA are not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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Removed: granted