Tile Shop Q3 net sales down 8.3%; net income $41K vs $1.8M last year

TILE SHOP HOLDINGS, INC.

2024-Q3 EPS reported $0.07 revenue$267,617,000

Net sales $84.5M versus $92.1M a year ago; comparable store sales fell 7.9%.
Gross margin improved to 66.5% from 64.7%; net income was $41K, diluted EPS $0.00.
Adjusted EBITDA $5.0M, down from $8.3M; $25.1M cash, zero debt on $75M credit line.
Closing Dayton, NJ distribution center and Beijing office; anticipates $2.8–$4.1M annualized SG&A savings.
CEO cites industry headwinds and lower traffic; proactive steps to support professional customers.

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