Container Store Meets Street Earnings Estimate But Misses on Top

The Container Store posted second quarter earnings of $0.11 a share on revenue of $193 million. Wall Street analysts were looking for $0.11 on sales of $199 million. The retailer went public last November at a price of $18. As for details, the company ended the second quarter with 67 stores in 24 states and the District of Columbia after opening one store and relocating another in the quarter. Gross margin was 58.8%, an increase of 40 basis points compared to the second quarter of fiscal 2013. And selling, general and administrative expenses increased by 5.5% to $90.5 million. TheStreet's Gregg Greenberg has details from New York.