Container Store Group, Inc (TCS) has reported 147.84 percent jump in profit for the quarter ended Apr. 01, 2017. The company has earned $8.38 million, or $0.17 a share in the quarter, compared with $3.38 million, or $0.07 a share for the same period last year.     

Revenue during the quarter grew 5.32 percent to $221.04 million from $209.88 million in the previous year period. Gross margin for the quarter contracted 18 basis points over the previous year period to 57.60 percent. Total expenses were 92.23 percent of quarterly revenues, down from 95.50 percent for the same period last year. This has led to an improvement of 327 basis points in operating margin to 7.77 percent.

Operating income for the quarter was $17.18 million, compared with $9.45 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $26.91 million compared with $20.59 million in the prior year period. At the same time, adjusted EBITDA margin improved 236 basis points in the quarter to 12.17 percent from 9.81 percent in the last year period.  

"We are very pleased to have completed fiscal 2016 with strong fourth quarter performance that exceeded our expectations across all financial metrics. Our Custom Closets business continues to positively contribute to comparable store sales and we’ve seen sales trends improve in our other product categories driven by new and more targeted marketing campaigns, as well as merchandising improvements," said Melissa Reiff, chief executive officer.

For financial year 2017, Container Store Group, Inc projects revenue to be in the range of $830 million to $850 million.  The company forecasts diluted earnings per share to be in the range of $0.25 to $0.35.