MINNEAPOLIS, April 02, 2025 (GLOBE NEWSWIRE) -- Interior designer and HGTV star Alison Victoria has transformed countless spaces with her visionary eye and signature "city chic" style. Now, fans have even more ways to bring Victoria's designs off their screens and into their homes with the latest additions to the exclusive Alison Victoria Tile collection. Initially launched in 2022 and available only at The Tile Shop, Alison Victoria Tile offers tiles, mosaics and trim featuring contemporary color palettes ...

The latest styles from The Tile Shop and HGTV star are available now, only at tileshop.com and Tile Shop showrooms.MINNEAPOLIS, April 02, 2025 (GLOBE NEWSWIRE) -- Interior designer and HGTV star Alison Victoria has transformed countless spaces with her visionary eye and signature “city chic” style. Now, fans have even more ways to bring Victoria's designs off their screens and into their homes with the latest additions to the exclusive Alison Victoria Tile collection. Initially launched in 2022 and availabl ...

Shares of Tile Shop Holdings, Inc. (TTSH) have lost 3.1% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 Index’s 0.1% loss over the same time frame. Over the past month, the stock gained 3.8% versus the S&P 500’s 2.2% decline.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Financial PerformanceTile Shop reported a net sales decline of 7.9% to $347.1 million in 2024 from $377.1 million in 2023. Comparable store sales decreased 7 ...

Financial Performance - For the year ended December 31, 2024, net sales decreased to $347.1 million, down 8% from $377.1 million in 2023 and 12% from $394.7 million in 2022[145] - Comparable store sales decreased by 7.8% in 2024 due to lower traffic, partially offset by an increase in average ticket value[145] - Net sales decreased by $30.1 million, or 8.0%, in 2024 compared to 2023, with comparable store sales declining by 7.8%[163] - Gross profit decreased by $15.2 million, or 6.2%, in 2024, with a gross margin rate of 65.7% compared to 64.4% in 2023[164] - The company reported a net income of $2.3 million in 2024, down from $10.1 million in 2023[162] - Adjusted EBITDA for 2024 was $22.6 million, with an adjusted EBITDA margin of 6.5%[162] - Adjusted EBITDA for 2024 is $22.6 million, a decrease from $38.8 million in 2023, representing 6.5% of net sales[172] - Net income for 2024 is $2.3 million, down from $10.1 million in 2023, with a net income margin of 0.7%[172] Expenses and Cost Management - Selling, general and administrative expenses decreased by $2.5 million or 1.1% to $224.4 million in 2024 compared to 2023[147] - The anticipated annualized benefit from cost-reduction actions is expected to reduce selling, general and administrative expenses by $2.8 million to $4.1 million[148] - Selling, general and administrative expenses decreased by $2.5 million, or 1.1%, in 2024, primarily due to a reduction in depreciation and variable compensation expenses[165] - Interest expense decreased by $1.9 million in 2024, attributed to lower average debt levels compared to 2023[166] Cash Flow and Liquidity - Cash balances increased by $12.4 million from $8.6 million on December 31, 2023, to $21.0 million on December 31, 2024, primarily due to $27.1 million of operating cash flow[149] - Cash and cash equivalents increased to $20.96 million in 2024 from $8.62 million in 2023[162] - Cash and cash equivalents at December 31, 2024, total $21.0 million, with $73.8 million available for borrowing under the revolving line of credit[174][177] - Net cash provided by operating activities increased to $62.1 million in 2024 from $27.1 million in 2023[184][185] - The company has no outstanding borrowings on its line of credit as of December 31, 2024[177] - The company expects to maintain liquidity for ongoing operations and capital expenditures over the next twelve months[179] Store Operations and Strategy - The company plans to close two unprofitable stores in 2025 and does not intend to open any new stores during the year[148] - The company operated 142 stores across 31 states and the District of Columbia as of December 31, 2024[142] - The company maintained 142 stores open at the end of the period, consistent with the previous year[162] - Capital expenditures for 2024 amount to $14.5 million, slightly down from $15.3 million in 2023, focusing on store remodels and IT infrastructure[181] Market Conditions and Risks - The decrease in existing home sales by nearly 35% from 2021 to 2024 has adversely impacted demand for remodeling projects[145] - The company is exposed to inflationary pressures affecting the cost of sales, which may impact gross profit and selling, general and administrative expenses as a percentage of revenues[200] - A one percentage point increase in interest rates for the next 12-month period would not affect pre-tax earnings or cash flow, as the company had paid off its debt balance as of December 31, 2024[201] - The company does not engage in any interest rate hedging activity and does not intend to trade derivative securities for profit[202] - Cash balances are maintained at financial institutions with strong credit ratings, but amounts may exceed FDIC insurance limits, exposing the company to credit concentration risk[203] Asset Management - Total assets as of December 31, 2024, were $319.6 million, a slight increase from $316.7 million in 2023[162] - Total assets as of December 31, 2024, are $322.1 million, with capital employed at $122.6 million[173] - The company recorded asset impairment charges of $0.9 million, $1.0 million, and $0.4 million for the fiscal years ended December 31, 2024, 2023, and 2022, respectively[197] - The pretax return on capital employed for 2024 is 2.9%, significantly lower than 12.4% in 2023[173]

Financial Data and Key Metrics Changes - Fourth quarter comparable store sales decreased by 5.8%, primarily due to lower store traffic, although there was a modest improvement in average order value [16] - For the full year, comparable store sales decreased by 7.8%, attributed to softer store traffic influenced by elevated interest rates affecting existing home sales and demand for home improvement projects [17] - Gross margin rate decreased by 50 basis points to 64.2% in Q4 2024, impacted by increased inventory write-offs due to product transitions, but partially offset by efforts to source products at lower price points [18] - For the year, gross margin rate improved by 130 basis points to 65.7%, driven by stabilizing international freight rates and reduced inventory purchasing costs [19] - Operating cash flow generated in 2024 was $27.1 million, leading to an increase in cash balance of over $12 million, ending the year with $21 million in cash and no bank debt [21] Business Line Data and Key Metrics Changes - Sales volumes of the Superior product line improved in Q4, following its relaunch in June 2024, aimed at increasing sales to professional customers and improving attachment rates of installation products [10][12] - Year-over-year declines in tile volumes sold were noted, but growth in Superior volumes sold during the second half of 2024 was highlighted as a positive trend [12] - The company is expanding its selection of entry-level competitively priced products, which is expected to attract a broader customer base, particularly for smaller remodeling projects [13] Market Data and Key Metrics Changes - The company faced a challenging housing backdrop, with existing home sales levels remaining near historic lows, impacting demand for home improvement projects [7] - The management noted that the near-term outlook remains uncertain due to changing political landscapes and potential impacts on tariffs, consumer sentiment, and jobs [7] Company Strategy and Development Direction - The company plans to be selective with incremental investments in 2025 and aims to right-size its expense structure, with no new store openings planned for the year [9] - Two unprofitable stores are anticipated to close in 2025, reducing the store count to 140 by year-end [9] - The strategy focuses on curating a strong assortment of tile products and providing exceptional customer service, reinforcing the company's value propositions [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges in the industry but expressed optimism about a potential recovery in housing turnover and remodeling activity in the future [7] - The company is proactively taking measures to respond to market challenges and believes it is well-positioned with a strong balance sheet and a capable team [21] Other Important Information - The company closed one distribution center and reduced staffing levels at its corporate office in response to market conditions [8] - The company does not plan to update its forward-looking statements beyond the date of the call [5] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with closing remarks from the CFO [23][24]

Tile Shop Holdings, Inc (NASDAQ:TTSH) Q4 2024 Results Conference Call February 27, 2025 9:00 AM ET Company Participants Ken Cooper - Investor Relations Cab Lolmaugh - Chief Executive Officer Mark Davis - Chief Financial Officer Ken Cooper Good day, and thank you for standing by. Welcome to the Q4 2024 Tile Shop Holdings, Inc. Earnings Conference Call. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one one on yo ...

Financial Performance - Fourth quarter 2024 net sales decreased by $5.0 million, or 5.9%, compared to the fourth quarter of 2023, with comparable store sales down 5.8%[2] - Full-year 2024 net sales decreased by $30.1 million, or 8.0%, with comparable store sales declining 7.8%[5] - Adjusted EBITDA for the fourth quarter of 2024 was $3.4 million, compared to $6.6 million in the fourth quarter of 2023, and for the full year, it was $22.6 million compared to $38.8 million in 2023[10] - The company reported a net loss of $0.6 million in the fourth quarter of 2024, with a diluted loss per share of $0.01, while full-year net income was $2.3 million with diluted earnings per share of $0.05[2] - The company reported a net loss of $628,000 for the three months ended December 31, 2024, compared to a net income of $636,000 for the same period in 2023[26] Gross Margin and Profitability - Gross margin for the fourth quarter of 2024 was 64.2%, down from 64.7% in the fourth quarter of 2023, while the full-year gross margin improved to 65.7% from 64.4%[6] - Gross profit for the twelve months ended December 31, 2024, was $227,874,000, down from $243,061,000 in 2023, reflecting a gross margin rate of 65.7% compared to 64.4% in the previous year[26] - The adjusted EBITDA margin rate for the twelve months ended December 31, 2024, was 6.5%, down from 10.3% in 2023[26] Expenses and Cost Management - Selling, general and administrative expenses decreased by $1.3 million, or 2.4%, in the fourth quarter of 2024 compared to the same period in 2023[7] - Selling, general and administrative expenses for the twelve months ended December 31, 2024, were $224,357,000, slightly down from $226,903,000 in 2023[26] - The company plans to continue focusing on operational improvements and cost management strategies to enhance profitability in the upcoming periods[24] Assets and Liabilities - As of December 31, 2024, the company had no debt outstanding and cash and cash equivalents of $21.0 million[9] - Total current assets increased to $119,822,000 as of December 31, 2024, from $114,558,000 in 2023, primarily due to an increase in cash and cash equivalents[25] - Cash and cash equivalents at the end of the period were $20,957,000, significantly higher than $8,620,000 at the end of 2023[27] - The company’s total liabilities decreased marginally to $196,691,000 as of December 31, 2024, from $196,985,000 in 2023[25] Capital and Future Outlook - The pretax return on capital employed was 2.9% for the trailing twelve months as of the end of the fourth quarter in 2024, down from 12.4% in the previous year[13] - The company maintained 142 stores open at the end of both the fourth quarter of 2024 and 2023[3] - Management expressed confidence in capitalizing on opportunities in 2025 through enhancements in product lines and expansion of offerings[3] - The company experienced a cash flow from operating activities of $27,107,000 for the twelve months ended December 31, 2024, compared to $62,060,000 in 2023[27]

Core Insights - Tile Shop Holdings, Inc. reported a decline in net sales and comparable store sales for both the fourth quarter and full year of 2024, reflecting ongoing challenges in the home improvement sector [2][3][6] - The company maintained a strong gross margin, with a slight decrease in the fourth quarter compared to the previous year, but an overall improvement for the full year [7][30] - The management expressed optimism about future performance, citing strategic enhancements to product lines and customer service initiatives [3] Fourth Quarter 2024 Summary - Net sales decreased by 5.9% to $79.5 million compared to the fourth quarter of 2023 [2][6] - Comparable store sales also fell by 5.8% during the same period [2][6] - Gross margin was reported at 64.2%, down from 64.7% in the previous year [7][30] - The company incurred a net loss of $0.6 million, translating to a net loss per share of $0.01 [2][3] - Adjusted EBITDA for the quarter was $3.4 million, down from $6.6 million in the fourth quarter of 2023 [11][30] Full-Year 2024 Summary - For the full year, net sales decreased by 8.0% to $347.1 million compared to 2023 [3][6] - Comparable store sales declined by 7.8% year-over-year [3][6] - Gross margin improved to 65.7% from 64.4% in 2023, attributed to lower international freight rates and supplier price reductions [7][30] - The company reported a net income of $2.3 million for the year, down from $10.1 million in 2023 [3][29] - Adjusted EBITDA for the year was $22.6 million, compared to $38.8 million in the previous year [11][30] Management Commentary - CEO Cabell Lolmaugh highlighted the team's execution and strategic initiatives aimed at enhancing product offerings and customer service as key factors for potential recovery in 2025 [3] Capital Structure and Liquidity - As of December 31, 2024, the company had no debt and $21.0 million in cash [10][27] - The company maintained a stable number of stores, with 142 locations at year-end [2][3] Tax Provision - The benefit from income taxes was $0.2 million in the fourth quarter of 2024, compared to a provision of $0.6 million in the same quarter of 2023 [9] - The effective tax rate decreased to 25.9% in the fourth quarter of 2024 from 48.1% in the previous year [9] Return on Capital Employed - The pretax return on capital employed was reported at 2.9% for the trailing twelve months ending December 31, 2024, a significant decrease from 12.4% in the prior year [14]

Core Points - Tile Shop Holdings, Inc. will release its financial results for the fourth quarter ended December 31, 2024, on February 27, 2025, at 7:00 a.m. Eastern Time [1] - A conference call for investors will be held on the same day at 9:00 a.m. Eastern Time, hosted by the CEO, CFO, and Investor Relations [2] - The call will be accessible via the Company's Investor Relations page, with a replay available afterward [3] Company Overview - Tile Shop is a specialty retailer of natural stone tiles, man-made and luxury vinyl tiles, and related materials, operating 142 stores across 31 states and the District of Columbia [5] - The Company emphasizes high-quality products, exclusive designs, knowledgeable staff, and exceptional customer service in its showrooms [5] - Tile Shop is affiliated with several industry organizations, including ASID, NAHB, NKBA, and NTCA [6]

Group 1 - The article discusses the investment service "Asia Value & Moat Stocks," which targets value investors looking for Asia-listed stocks with significant discrepancies between price and intrinsic value [1] - The focus is on deep value balance sheet bargains, such as net cash stocks and low price-to-book (P/B) stocks, as well as wide moat stocks that represent high-quality businesses [1] - The analyst has recently become bullish on Tile Shop Holdings, Inc. (NASDAQ: TTSH), indicating a shift in sentiment after previously mixed evaluations of the company's financial performance [1] Group 2 - The investment group provides monthly updates and watch lists for investors, particularly emphasizing opportunities in the Hong Kong market [1]