The Tile Shop reports Q2 EPS 1c vs. 3c last year

Reports Q2 revenue $88.3M vs. $91.4M last year. Comparable Store Sales Decreased 3.5%. Cabell Lolmaugh, CEO, said, “We believe the steps we’ve taken to expand our assortment of entry level, competitively priced products have contributed to a modest improvement in unit volumes during the second quarter when compared to the prior year. The improvement in unit volumes was offset due to increased demand for products carrying lower average selling prices and an increase in discounting. Housing turnover remains near historic lows, which continues to put pressure on traffic in our stores and our comparable store sales results. Nevertheless, we believe the refinements made to our assortment have helped broaden our appeal to a wider range of customers and position us to more effectively navigate the challenges of the current environment.”