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Tile Shop Holdings, Inc. reported a decrease in net sales and comparable store sales by 10.1% and 10.2% respectively for the first quarter of 2024. Despite challenges in existing home sales affecting traffic, the company saw an improvement in gross margin rate, generated strong cash flow, and controlled costs. The company had net income of $1.7 million, adjusted EBITDA of $7.4 million, diluted EPS of $0.04, and ending cash balance of $24.0 million with no long-term debt.
Tile Shop Holdings, Inc. (Nasdaq: TTSH) will release its first-quarter financial results on May 9, 2024, at 7:00 a.m. ET, followed by a conference call hosted by the CEO, CFO, and Investor Relations. Investors can participate via webcast and access dial-in information. A webcast replay will be available on the Company's Investor Relations page. The Company will use its website for disclosing material non-public information and complying with disclosure obligations.