Dive Brief:

• The Container Store reported Q2 revenue of $193.2 million, which missed estimates and sent its stock down. Same-store Q2 sales were down 4%, the company said.

• In Q3 the storage and organization solutions retailer expects same-store sales to be down or flat and has lowered its guidance for the year.

• The retailer is touting its plans to open new stores, including TCS Closets, a line of stores it will open in the Dallas/Fort Worth area in November that will sell custom cabinets for clothing.

Dive Insight:

The Container Store was the retailer that this summer ignited talk of a “retail funk,” saying that consumers just weren’t going to its stores despite spending their money on some higher-ticket items. The retailer is making changes and opening new stores, however, including its TCS Closets custom cabinetry line, which it says will help turn things around.