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Container Store meets 3Q profit forecasts

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The Container Store on Thursday reported fiscal third-quarter net income of $6.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Coppell, Texas-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring gains, were 7 cents per share.

The results matched Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 7 cents per share.

The storage products retailer posted revenue of $190.9 million in the period, which did not meet Street forecasts. Analysts expected $200.4 million, according to Zacks.

Container Store expects full-year earnings in the range of 41 cents to 44 cents per share, with revenue in the range of $785 million to $795 million.

Container Store shares have climbed 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.90, a decline of 49 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. TCS stock research report from Zacks.