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Container Store Teams with Beyond Inc.

Collaboration includes $40M investment by latter firm

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A Custom Space within a Container Store. Photo: Courtesy of The Container Store

The Container Store Group Inc. (Coppell, Texas) and Beyond Inc. (Midvale, Utah) have entered a strategic partnership they say is designed to improve the customer experience by drawing from the strengths of both brands. The move comes in the wake of ongoing struggles by The Container Store, which are reflected in its most recent quarterly earnings report. Those results, released in August, showed it had first quarter 2024 consolidated net sales of $181.9 million, down 12.2% from the first quarter a year earlier, and a same-store sales drop of 13.7% compared to the year before.

“We believe the benefits of this partnership will further our strategic initiatives including deepening our relationship with customers expanding our reach and strengthening our capabilities while accelerating our return to positive same store sales growth and profitability,” said The Container Store CEO Satish Malhotra.

Adds Marcus Lemonis, Executive Chairman of Beyond Inc.: “We see tremendous whitespace for The Container Store’s best-in-class, solution-based offerings across the entire Beyond portfolio, particularly within its high-margin Custom Spaces offering through the proprietary Elfa and Preston lines… The Container Store will enhance their store format and current general merchandise offering by incorporating the most popular Bed Bath & Beyond products to drive improved financial performance while providing customers a more comprehensive product offering for their home and organizational needs.”

As part of the collaboration, Beyond Inc. has agreed to invest $40 million in The Container Store through a preferred-equity transaction subject to certain terms and conditions.

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