Tile Shop posts Q3 net loss of $1.6M, comparable sales down 1.4%; Board approves delisting plan

TILE SHOP HOLDINGS, INC.

Net loss of $1.6M ($0.04 diluted EPS) vs net income of $41K a year ago; gross margin fell to 62.9% from 66.5%.
Comparable store sales down 1.4% on lower traffic; net sales declined 1.7% to $83.1M.
Adjusted EBITDA dropped to $2.0M from $5.0M; cash and equivalents $24.1M, no debt on $75M credit line.
Board approved plan to delist from Nasdaq and deregister SEC reporting, subject to shareholder vote at special meeting.
Management cites pressure on selling prices, elevated discounts, and rising costs; awaiting interest rate catalyst.

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