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Why The Container Store (TCS) Stock Is Slipping After Hours

Tickers in this article: TCS

NEW YORK (TheStreet) -- The Container Store  stock is slipping in extended trading after the company missed analysts' estimates on its bottom-line in its fourth quarter.

After the bell, shares had taken off 4.6% to $28.50.

The home organization store reported net sales of $216.8 million, flat with the comparable period a year earlier. Analysts surveyed by Thomson Reuters had anticipated slightly-higher revenue of $221.38 million.

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Over the three months to February, the company earned adjusted net income of 22 cents a share. Analysts had expected 27 cents a share. 

"Due to the historically unusual amount of winter storms, we did conclude the year with a difficult fourth quarter, which is always the most important quarter of our fiscal year," said CEO Kip Tindell in a statement. "These extraordinary weather conditions were exacerbated with the shortened holiday shopping season with two of the three most important weekends hard hit with weather and store closures."

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