Company Overview of Tile Shop Holdings, Inc.
Tile Shop Holdings, Inc. operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names. The company also manufactures setting and maintenance materials, such as thinset, grout, and sealers under the Superior brand name. As of July 19, 2016, it operated 117 stores in 31 states with an average size of 21,600 square feet. The company also sells its products through its Website, ti...
14000 Carlson Parkway
Plymouth, MN 55441
Founded in 1985
Key Executives for Tile Shop Holdings, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $400.0K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $212.0K
Senior Vice President of Operations
Total Annual Compensation: $212.0K
Senior Vice President of Retail
Total Annual Compensation: $212.0K
Compensation as of Fiscal Year 2015.
Tile Shop Holdings, Inc. Key Developments
Tile Shop Holdings, Inc. Announces Board Changes, Effective August 22, 2016
Aug 4 16
On August 1, 2016, the Board of Directors of Tile Shop Holdings, Inc. appointed Philip B. Livingston to the Board, effective immediately, to serve as a Class II director, with a term ending at the 2017 Annual Meeting of Shareholders. Mr. Livingston was also appointed chair of the Audit Committee, where he will succeed Peter H. Kamin. Mr. Kamin will remain a member of the Audit Committee. On August 1, 2016, William E. Watts provided the Board with notice of his intent to resign from the Board effective as of August 22, 2016. On August 2, 2016, the Board appointed Peter H. Kamin, member of the Audit Committee and Nominating and Corporate Governance Committee, to succeed Mr. Watts as Chairman of the Board effective as of August 22, 2016.
The Tile Shop Introduces Design Studio
Jul 19 16
The Tile Shop introduced an integrated digital Design Studio capability in all stores and online, allowing customers to personalize and visualize how an entire room or a distinct space will look upon completion of their project. The Design Studio gives customers and sales associates a collaborative platform to create customized 3D design renderings to scale. The Design Studio allows shoppers to input their specific room dimensions, choose from an extensive selection of The Tile Shop’s tile and stone products, trim and grout, visualize various tile layout possibilities and select accompanying furniture and accessories, including lighting. The complimentary Design Studio takes the long established premium shopping experience at The Tile Shop, featuring fully decorated room-size displays and free design services, a significant step further. No appointment is necessary, and shoppers can access the Design Studio with the help of a store associate at any of The Tile Shop’s 118 store locations or independently online via a tablet, desktop or mobile device. Customers can register to use the Design Studio by simply creating an account with an email and password at tileshop.com, where they can also view a brief Design Studio video tutorial and save their projects along the way. The Tile Shop’s Design Studio provides designers, tile setters, custom homebuilders and other Trade Professionals the opportunity to easily create and share their ideas with clients in their precise setting, and it arms homeowners with a tool to share their vision with friends, family and professionals providing help or advice on their projects. Users can create unlimited renderings until they land on the design that they love, and the tool’s collaborative design capability means that anyone who receives a shared plan can edit it directly. Once a final design is chosen, the Design Studio also has the capability to tabulate exact product quantities needed to complete the project. The Design Studio offers several features and benefits for customers of The Tile Shop, including: A new way to digitally create and visualize how tile and fixtures will look based on exact room dimensions; Collaborative design and project clarity - all plans can be shared and any recipient can make design changes and suggestions; Quick and simple online or in-store registration; Capability to select an extensive selection of The Tile Shop’s most popular tiles in a variety of shapes, patterns, sizes, colors, designs and materials, including marble, travertine, ceramic, glass, granite, metal, porcelain, faux wood, onyx, quartzite, sandstone, limestone and more; Option to change the tile layout of a floor or wall surface at the click of a button – from horizontal to vertical to herringbone; Ability to select from multiple grout colors; Option to incorporate illustrative fixtures such as lights, mirrors, bathtubs and vanities to create a complete room design; Simplified way to take designs and turn them into product orders for the exact quantities needed. Additionally, shoppers can request a cost estimate for an individual Design Studio rendering by sending it directly to The Tile Shop showroom in their area or by submitting it online at tileshop.com, and an associate will follow up to provide a project estimate. Alternatively, they can send renderings directly to their preferred Trade Pro for an estimate. The Tile Shop simplifies tile shopping with the help of expert associates who can identify customer project needs, provide product recommendations and offer project planning and design suggestions, making it easy to purchase exactly what’s needed to transform a space.
Tile Shop Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Year Ending December 31, 2016; Plans to Open 10 to 12 Stores for the Year Ending December 31, 2016; Plans to Relocates Store in the Third Quarter 2016
Jul 19 16
Tile Shop Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company’s net sales were $84,270,000 against $75,706,000 a year ago. Income from operations was $11,709,000 against $8,438,000 a year ago. Income before income taxes was $11,297,000 against $7,677,000 a year ago. Net income was $6,849,000 against $4,490,000 a year ago. Earnings per common share - basic and diluted were $0.13 against $0.09 a year ago. Adjusted EBITDA was $18,999,000 against $15,530,000 a year ago. Pretax non-GAAP income was $11,702,000 against $8,147,000 a year ago. Non-GAAP income net of tax was $7,095,000 against $0.14 diluted per share against $4,765,000 or $0.09 diluted per share a year ago. Comparable store sales growth was 8.2% in the quarter, which represented a fourth straight quarter of high single-digit or greater comparable store sales growth. Free cash flow generation was approximately $8 million in the second quarter of 2016.
For the six months, the company’s net sales were $168,984,000 against $148,669,000 a year ago. Income from operations was $23,465,000 against $15,633,000 a year ago. Income before income taxes was $22,514,000 against $14,098,000 a year ago. Net income was $13,607,000 against $8,149,000 a year ago. Earnings per common share - basic and diluted were $0.26 against $0.16 a year ago. Adjusted EBITDA was $38,283,000 against $30,222,000 a year ago. Pretax non-GAAP income was $23,616,000 against $15,082,000 a year ago. Non-GAAP income net of tax was $14,273,000 against $0.28 diluted per share against $8,717,000 or $0.17 diluted per share a year ago. Year-to-date free cash flow increased to $29 million at the conclusion of the quarter, which allowed to pay down an additional $11.3 million of long-term debt.
For the full year ending December 31, 2016, the company expects net Sales to be $322 million - $329 million. Comparable Store Sales Change to be mid to high single digits. Gross Margin % of Net Sales to be approx. 70%. Depreciation & Amortization to be approx. $23 million. Effective Tax Rate to be approx. 40%. The company expects non-GAAP earnings per share of $0.41 to $0.45 versus previous guidance of $0.40 to $0.45. Adjusted EBITDA to be $66 - $69 million. From a capital spending perspective, the company now expects approximately $30 million of capital expenditures this year at the high-end of previous guidance of $25 million to $30 million. GAAP pretax income to be $34 million - $38 million. GAAP net of Tax income to be $21 million - $22 million. Non-GAAP pretax income to be $36 million - $40 million. Non-GAAP net of tax income to be $22 million - $24 million. GAAP earnings per share to be $0.39 - $0.43. Interest expense to be $2 million - $2 million.
The company plans to open 10 to 12 new stores for the full year ending December 31, 2016.
The company also announced that its store in Coon Rapids, MN will be relocating within the Twin Cities market in the third quarter 2016.
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