The Tile Shop reports Q3 EPS 4c vs 8c last year

Reports Q3 revenue $92.112M vs $97.154M last year. “We again displayed the cash flow power of our model as we reduced our debt levels by $10 million during the third quarter of 2023 and by over 75% since the beginning of the year. This was made possible by the steps we’ve taken to effectively drive our business and reduce inventory levels despite facing tough macro-economic conditions. Rising interest rates and lower housing turnover challenge our industry and we believe these factors contributed to lower levels of traffic and comparable store sales in our business during the third quarter. While we anticipate the macro headwinds will persist in the near term, we remain confident in the steps we’re taking to position the Company for long-term success,” Cabell Lolmaugh, CEO, said.