---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-059122"
form_type: "8-K"
ticker: "TTSH"
cik: "0001552800"
company_name: "TILE SHOP HOLDINGS, INC."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:50:57.760983+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Tile Shop Q1 net sales down 10.1% to $91.7M; EPS $0.04 vs $0.06

## Summary
- Net sales $91.7M vs $102.0M a year ago, a decline of 10.1%; comparable store sales down 10.2%.
- Net income $1.7M ($0.04 diluted EPS) compared with $2.5M ($0.06 diluted EPS) in Q1 2023.
- Adjusted EBITDA fell to $7.4M (8.1% of sales) from $10.3M (10.1% of sales).
- Gross margin improved 160 bps to 65.8% on lower freight and product costs.
- Cash increased to $24.0M; no outstanding borrowings on $75M credit line; no long-term debt.

## SEC filing metadata
- accession: 0001104659-24-059122
- form_type: 8-K
- ticker: TTSH
- cik: 0001552800
- company_name: TILE SHOP HOLDINGS, INC.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552800/000110465924059122/0001104659-24-059122-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552800/000110465924059122/tm2412523d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-059122
- JSON: https://secwatch.observer/filing/0001104659-24-059122.json
- Plain text: https://secwatch.observer/filing/0001104659-24-059122.txt

## Key facts
- Earnings Releases
  TILE SHOP HOLDINGS, INC. reported first quarter ended March 31, 2024 results: revenue $ 91,728, net income $ 1,689, EPS $ 0.04.
  - Period: first quarter ended March 31, 2024
  - Revenue: $ 91,728
  - Net income: $ 1,689
  - EPS: $ 0.04
  - Result: reported results
  source text: Three Months Ended (unaudited, dollars in thousands, except per March 31, share data) 2024 2023 Net sales $ 91,728 $ 102,019 Net sales decline (1) (10.1 )% (0.4 )% Comparable store sales (decline) growth (2) (10.2 )% 0.1 % Gross margin rate 65.8 % 64.2 % Income from operations as a % of net sales 2.5 % 4.0 % Net income $ 1,689 $ 2,512 Net income per diluted share $ 0.04 $ 0.06 Adjusted EBITDA $ 7,417 $ 10,313 Adjusted EBITDA as a % of net sales 8.1 % 10.1 % Number of stores open at the end of period 142 142
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552800/000110465924059122/0001104659-24-059122-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.