Container Store CEO Mulls Ending Guidance After Rocky Week
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Container Store Group Inc. Chief Executive Officer Kip Tindell, who watched the stock decline almost 27 percent this week after cutting the company’s forecast, may stop providing guidance to investors.
Tindell, who helped start the company in 1978, said he’d “strongly consider” doing away with forecasts because they put too much focus on the short term. The retail chain cut its profit and sales forecasts on Oct. 7, sending the stock on a 25 percent plunge that day. The shares fell almost 3 percent more over the past two days.