Latest news with #Arbour
Yahoo
3 days ago
- Business
- Yahoo
Tile Shop Stock Down Following Q2 Earnings on Lower Sales and Margins
Shares of Tile Shop Holdings, Inc. TTSH have lost 1.1% since the company reported its earnings for the quarter ended June 30, 2025, trailing the S&P 500 Index's 1.6% gain in the same period. Over the past month, the stock declined 3.1%, while the S&P 500 rose 3.2%. TTSH's Earnings Snapshot Tile Shop posted net sales of $88.3 million in the second quarter of 2025, down 3.4% from $91.4 million in the prior-year period, as comparable store sales declined 3.5% due to lower store traffic. Gross profit fell 5.8% year over year to $56.8 million from $60.3 million, with the gross margin contracting 160 basis points to 64.4% from 66%, pressured by higher discounting and increased product costs. Net income dropped sharply to $0.4 million, or $0.01 per diluted share, from $1.2 million, or $0.03 per diluted share, a year ago. Adjusted EBITDA also fell 26.7% to $4.9 million from $6.7 million, representing a margin decline from 7.4% to 5.6%. The store count stood at 141 at quarter-end, down from 142 last year. Tile Shop's Other Key Business Metrics Operating income margin fell to 0.5% from 2% a year earlier, reflecting both the sales decline and the margin compression. Selling, general and administrative (SG&A) expenses were $56.4 million, down 3.6% from the prior year's $58.5 million. This reduction was driven by cost savings from a prior distribution center closure in New Jersey, lower asset impairment charges, reduced marketing spend and decreased depreciation, partially offset by a merchandising supplies write-off. Capital structure remained conservative, with no outstanding debt and a cash balance of $27.8 million at quarter-end, up from $20.9 million at 2024-end. Operating cash flow in the first half of 2025 totaled $13.5 million compared with $23.5 million. The company's pretax return on capital employed over the trailing 12 months plunged to 0.0% from 6.8% last year. Tile Shop Hldgs, Inc. Price, Consensus and EPS Surprise Tile Shop Hldgs, Inc. price-consensus-eps-surprise-chart | Tile Shop Hldgs, Inc. Quote TTSH's Management Commentary CEO Cabell Lolmaugh noted that refinements to Tile Shop's assortment — particularly expanding entry-level and competitively priced products — helped modestly improve unit volumes year over year. However, this gain was offset by increased sales of lower-priced products and heavier discounting. TTSH has broadened its offerings with new product categories such as luxury vinyl tile (including the exclusive Arbour line), laminate and engineered wood flooring, along with large-format tiles and its newly launched Signature line. Management sees these initiatives as positioning the business to capture additional project scope per customer, such as selling flooring for multiple rooms in a single remodeling job. Factors Influencing Tile Shop's Headline Numbers The primary headwinds in the quarter were persistently low housing turnover, which curtailed customer traffic and pricing pressure from discounting. Gross margins faced dual challenges of lower average selling prices and higher product costs. However, Tile Shop benefited from a leaner cost structure due to prior and ongoing expense reductions, including workforce reductions and facility closures. The closure of the Spring Valley, WI, distribution center in the second quarter is expected to generate approximately $1 million in annualized SG&A savings. TTSH's Guidance While no formal numerical guidance was provided, management indicated that near-term priorities include continued expense control, limiting capital expenditures and identifying operational efficiencies. Tile Shop also emphasized its diversified sourcing from over 20 countries, which it views as a strategic advantage in navigating potential tariff volatility. Higher-than-typical inventory levels further provide flexibility to adapt sourcing should trade conditions change. Tile Shop's Other Developments During the second quarter, TTSH closed its Spring Valley, WI, distribution center without incurring material impairment or severance costs. This follows the closure of another distribution center and significant corporate workforce reductions in the past nine months. One retail store was closed at the end of its lease term in the second quarter, with another closure in the third quarter. These actions are part of a broader cost-cutting strategy in response to ongoing demand pressures. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tile Shop Hldgs, Inc. (TTSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
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Business Standard
24-06-2025
- Business
- Business Standard
Arbour Investments commits ₹105 cr to ELV for Whitefield projects
Arbour Investments, a real estate investment management platform, has committed funding of Rs 105 crore to ELV Projects, a Bengaluru-based developer, for its residential developments in Whitefield, East Bengaluru. The partnership aims to fund two residential developments—ELV Highgarden and ELV Kingsland—in Whitefield. As part of the transaction, Arbour has already disbursed the first tranche of Rs 20 crore. The firm will follow a milestone-based disbursement method and release the remaining amount over the next eight to nine months. The mid-premium projects span a combined built-up area of 11.73 lakh square feet, comprising 596 two- to four-bedroom residential units across five towers. Both developments are slated for completion by October 2026. Meanwhile, the Whitefield area has recorded a 60 per cent increase in capital values since 2021, with prices rising from Rs 6,400 to Rs 10,300 per sq ft. Priyesh Chheda, founder, Arbour Investments, said: 'Our preferred segment is anywhere between mid-market and premium. We are not that keen on absolute luxury, because it requires a different approach in terms of sales and marketing and for the cash flows, and the same goes with affordable projects.' Arbour has completed around 22 transactions over the last three years and 10 months. 'Out of these 22 transactions, the overall investments were roughly around Rs 600 crore, of which 11 exits have already happened. Now we are looking at another three to four transactions in this particular financial year, with around Rs 400 crore of further deployment,' Chheda added. For its platform equity segment, Arbour aims to focus on real estate projects only in the Mumbai Metropolitan Region (MMR). For its private equity arm, the firm is evaluating opportunities in markets including Hyderabad and Chennai, apart from MMR, Bengaluru and Goa.
Yahoo
13-05-2025
- Business
- Yahoo
TTSH Stock Gains Despite Q1 Earnings Decline, Gross Margin Improves
Shares of Tile Shop Holdings, Inc. TTSH have gained 14.8% since the company reported its earnings for the quarter ended March 31, 2025, outperforming the S&P 500 Index's modest 0.5% rise during the same period. Over the past month, TTSH stock has risen 11.1%, while the broader index has gained 4.3%. For the first quarter of 2025, Tile Shop reported net sales of $88 million, a decline of 4.1% year over year from $91.7 million. Comparable store sales dropped 4% year over year, which management attributed to a decrease in store traffic. Net income fell sharply to $172,000 from $1.7 million in the prior-year period, translating to diluted earnings per share of $0.00 compared with $0.04 in the prior year. Adjusted EBITDA also declined 38.4% to $4.6 million, or 5.2% of net sales, from $7.4 million, or 8.1% of net sales, a year ago. Despite the revenue decline, gross margin improved 20 basis points to 66% from 65.8%, driven by lower inventory write-offs, partially offset by higher delivery costs. Tile Shop Holdings, Inc. price-consensus-eps-surprise-chart | Tile Shop Holdings, Inc. Quote Total operating income declined sharply to $183,000 from $2.3 million, compressing the operating margin to 0.2% from 2.5%. Selling, general, and administrative (SG&A) expenses declined 0.3% year over year to $57.9 million from $58 million. The decrease was primarily due to a $0.7 million decrease in depreciation, a $0.4 million decrease associated with the closure of one distribution center in the third quarter of 2024 and a $0.4 million decrease in benefits. These factors were partially offset by a $0.7 million increase in advertising costs, a $0.3 million increase in training and a $0.3 million uptick in IT expenses. Tile Shop ended the quarter with $27.1 million in cash and no outstanding debt, up from $20.9 million in cash at the end of 2024. Operating cash flow totaled $9.9 million in the quarter compared with $18.6 million in the year-ago period. Pretax Return on Capital Employed fell to 1.2% on a trailing 12-month basis, down from 11.3% a year earlier, reflecting ongoing margin and profitability pressures. CEO Cabell Lolmaugh acknowledged the continuing impact of low housing turnover and macro headwinds such as tariffs and cautious consumer sentiment. Still, management emphasized their strategy of focusing on controllable factors — improving customer experience and managing costs. A key highlight was the increase in tile volume sold during the quarter, which the company attributed to an expanded product assortment, particularly entry-level options and the Arbour collection of luxury vinyl tile. This volume growth occurred despite lower average selling prices, suggesting that new offerings are resonating with value-conscious consumers. Lolmaugh expressed confidence in TTSH's supplier diversification strategy, noting that Tile Shop now sources from over 25 countries. This positioning is expected to help the company navigate increased tariffs on certain imported goods. Additionally, the retailer has been developing partnerships with domestic manufacturers, which may help offset some international sourcing risks going forward. CFO Mark Davis elaborated that, despite this shift in product mix, the company was able to maintain average ticket values due to stronger volumes. He also noted the positive impact of new engineered hardwood and laminate products, along with continued traction in large-format tiles. The decline in net sales and earnings was primarily driven by lower store traffic, exacerbated slightly by the absence of an extra sales day that benefited the 2024 quarter (due to the leap year). Management estimated that the additional day in the prior-year quarter contributed approximately $1 million in sales. Despite weaker revenues, the company maintained average ticket size by offsetting lower average selling prices with increased tile volumes. This mix shift was underpinned by new product introductions targeting both price-sensitive and design-conscious customers. Furthermore, while gross margin improved modestly, SG&A expenses absorbed new investments in marketing, employee training, and IT systems. These expenses, although constraining profitability in the short term, are viewed as essential to long-term competitiveness. Tile Shop did not provide formal financial guidance for upcoming quarters. However, management indicated confidence in their spring selling season and reiterated that the company's inventory strategy and global supplier diversification would help mitigate tariff-related cost pressures. The team emphasized its readiness to respond to evolving trade dynamics by shifting sourcing and implementing pricing strategies if needed. There were no acquisitions, divestitures, or major business restructurings disclosed for the first quarter of 2025. However, Tile Shop announced it had subleased its New Jersey distribution center through the third quarter of 2026. This sublease is expected to yield $2 million in income, with half of the benefit anticipated to reduce SG&A expenses over the remainder of 2025 and the balance in 2026. Additionally, Tile Shop expanded its design collaboration with Alison Victoria, a move that aligns with its strategic focus on exclusive, designer-backed offerings to differentiate its product portfolio. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tile Shop Hldgs, Inc. (TTSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
17-04-2025
- Science
- Miami Herald
100 million-year-old footprints — first of their kind — found in Canada. See them
More than two decades ago in the small town of Tumbler Ridge, nestled in the Canadian Rockies, two young boys found dinosaur tracks. They were discovered in 2000, and Charles Helm, scientific adviser at the Tumbler Ridge Museum, said several of the tracks had been discovered in the years since, prompting him to invite paleontologists to come and take a look, according to an April 14 news release from scientific publisher Taylor & Francis Group. In 2023, researcher Victoria Arbour of the Royal BC Museum, along with teams from the Tumbler Ridge Museum and the Tumbler Ridge UNESCO Global Geopark finally studied the tracks — and realized they belonged to a species new to science. Arbour had seen photos of the footprints a few years earlier, and said 'I thought they were really strange and interesting looking and I was really curious about them,' she told CBC, the Canadian Broadcasting Corp. Then she saw them in person. 'And I got really excited,' Arbour told the news outlet. 'I was like, 'You know, I think the only thing these really can be … is an ankylosaurid.'' Ankylosaurs fall into two groups: one with a flexible tail and four toes on each back foot, and a second with a 'sledgehammer-like tail club' and three toes, according to the release. These footprints were three-toed and didn't match any previous records of ankylosaurs found in North America, according to a study published on the discovery April 14 in the peer-reviewed Journal of Vertebrate Paleontology. 'While we don't know exactly what dinosaur that made (the) footprints looked like, we know that it would have been about (16.4-19.6 feet) long, spiky and armoured, and with a stiff tail or a full tail club,' Arbour said in the release. 'Ankylosaurs are my favorite group of dinosaurs to work on, so being able to identify new examples of these dinosaurs in British Columbia is really exciting for me.' The footprints themselves are about 10 inches long and nearly the same distance wide, 'crescentic in form' and five manus, or toes on the front feet, and three pes, or toes on the back feet, according to the study. The new species was named Ruopodosaurus clava, meaning 'the tumbled-down lizard with a club/mace,' researchers said, noting where the tracks were found and the tail shape of the distinctive dinosaurs, according to the study. The tracks are believed to be the only tracks from this group ever discovered anywhere in the world, according to the researchers. 'The tracks date back to the middle of the Cretaceous period, about 100 to 94 million years ago. No bones from ankylosaurids have been found in North America from about 100 to 84 million years ago, leading to some speculation that ankylosaurids had disappeared from North America during this time,' according to the release. The tracks themselves show that multiple animals were walking together, according to the study, and the timeline of footprints shows multiple species of ankylosaur co-existed in the same time period. In addition to the tracks in Tumbler Ridge, more tracks in a remote region northwest called Bullmoose Creek were also discovered, according to the study. Scott Persons, a paleontologist studying similar species and not involved in the study, told CBC the new tracks show the ankylosaurs once thought of as 'squat' or like a 'coffee table' actually had 'a surprisingly bird-like gait' and they lined up their feet like 'supermodels on a runway.' 'This track record shows us the coffee table analogy is a little bit flawed,' Persons told CBC. 'The obvious question is: What do these animals look like? All we have are the feet.' Tumbler Ridge is in east-central British Columbia, Canada's western-most territory. The research team includes Helm, Arbour, Martin G. Lockley, Eamon Drysdale and Roy Rule.
Yahoo
17-04-2025
- Science
- Yahoo
Mysterious 3-Toed Footprints in Canada Reveal New Ankylosaur Species
Sets of prehistoric three-toed footprints pressed into stone have led paleontologists to discover a new dinosaur in the armored ankylosaurid family. The trackways were found near the town of Tumbler Ridge in British Columbia, which became known for its ankylosaur fossils after Mark Turner and Daniel Helm, both young boys at the time, first discovered a trackway in 2000. Ankylosaurids are one of the two main families of ankylosaurs, the other being nodosaurids. We know the difference between these families because of their tail armor: nodosaurids lack the bony tail club that defines the ankylosaurids. This is the first time we've seen precious, 100-million-year-old ankylosaurid footprints, which have only three toes on their back feet, unlike their relatives' four. Ankylosaur specialist Victoria Arbour – who also happens to be the paleontology curator at the Royal British Columbia Museum – visited Tumbler Ridge in 2023, where she met with Charles Helm, scientific advisor at the Tumbler Ridge Museum (and Daniel's father). He showed her a number of three-toed footprint trackways that had been turning up around the area in recent years. All specimens were found within the Tumbler Ridge UNESCO Global Geopark, except for one that was found in western Alberta. These footprints were preserved in the non-marine deposits of the Dunvegan and Kaskapau Formations, from the middle of the Cretaceous period. At this time, the now-mountainous region of the British Columbia Rockies was a lowland delta, freshly scoured with channels, point bars, shallow lakes, and mud squelchy enough to preserve the imprint of dino toes. Trackways like this are particularly useful to paleontologists because they provide multiple footprint specimens from the same animal. And in a region lacking skeletal fossil material, well-preserved trace fossils like these are essential to understanding prehistoric life. Closer analysis of the trackways, digitally rendered using photogrammetry, helped them realize they were looking at traces of a new species, which the team named Ruopodosaurus clava. The pes (back foot) tracks have "robust digits ending in blunt triangular or U-shaped toe tips," write Arbour, Helm, and their collaborators in a paper describing the species. The dinosaur's manus (front foot) tracks, however, bear five digits, "distinctly crescentic in form." "While we don't know exactly what the dinosaur that made Ruopodosaurus footprints looked like, we know that it would have been about 5 to 6 meters (16 to 20 feet) long, spiky, and armored, and with a stiff tail or a full tail club," Arbour says. "This study also highlights how important the Peace Region of northeastern British Columbia is for understanding the evolution of dinosaurs in North America – there's still lots more to be discovered." Because no ankylosaurid bones have been found in North America from 100 to 84 million years ago, paleontologists had assumed they had disappeared from the region during the mid-Cretaceous. But the Ruopodosaurus clava trackways show the ankylosaurid family was indeed trampling around the continent at the same time as its nodosaurid cousins. "It is really exciting to now know through this research that there are two types of ankylosaurs that called this region home, and that Ruopodosaurus has only been identified in this part of Canada," Helm says. The findings were published in Journal of Vertebrate Paleontology. Origins of Earth's Water May Not Be as Complicated as We Thought Secret of Orange Cats Finally Uncovered After 60-Year Search Breaking: Live Colossal Squid Filmed in World First
