MINNEAPOLIS - The Tile Shop (NASDAQ: NASDAQ:TTSH), a specialty retailer known for high-quality tiles and natural stone, has expanded its exclusive Morris & Co. Tile collection with designs inspired by historic wallpaper patterns. Today, the company announced the addition of tiles based on the St. James Ceiling and Willow Boughs patterns, originally created by William Morris, the 19th-century British designer and founder of the eponymous brand.
The St. James design features a matte 8" x 8" ceramic tile that can be used for both walls and floors, showcasing an ornate floral pattern that emerges when four tiles are aligned. This design draws inspiration from the St. James Ceiling wallpaper, which Morris designed in 1881 for the Banqueting Room at St. James's Palace in London. The tiles come in two colorways, Wandle River and Farringdon Grey, which correspond with hues from the Morris & Co. paint collection.
Additionally, the Hawkdale Willow Olive tile introduces a glossy 3" x 9" ceramic option with five distinct willow branch patterns, reflecting the non-directional design of the original Willow Boughs wallpaper from 1887. These tiles can be installed either horizontally or vertically, and they can be paired with Hawkdale Pure Chalk subway tiles for a complementary look.
Kirsty Froelich, The Tile Shop's Director of Design, expressed pride in bringing these iconic patterns to tile form, noting that the hand-crafted and organic designs resonate with customers and suit various design styles.
The Morris & Co. Tile collection is among several exclusive collaborations at The Tile Shop, which includes partnerships with renowned designers such as Nikki Chu, Alison Victoria, and Laura Ashley. The collection is available for purchase on tileshop.com and at all Tile Shop locations across the United States.
The Tile Shop, a member of various industry associations including ASID and NKBA, operates 142 stores in 31 states and the District of Columbia. The company continues to offer an extensive selection of products, expert staff, and exceptional customer service.
Morris & Co., known for its contributions to the Arts & Crafts movement, remains influential through the Sanderson Design Group, which maintains the brand's legacy by reimagining classic designs based on treasures from the Morris & Co. archive.
This expansion of the Morris & Co. Tile collection is based on a press release statement from Tile Shop Holdings, Inc.
In other recent news, Tile Shop Holdings has announced the election results from its 2024 Annual Meeting of Stockholders. Deborah K. Glasser and Linda Solheid were elected as Class III directors, with their terms set to extend until the 2027 Annual Meeting. The company's shareholders also ratified the appointment of RSM US LLP as their independent registered public accounting firm for the current fiscal year. The vote count for the director elections and the auditor ratification were disclosed, showing a significant majority in favor. In addition, the non-binding advisory vote on executive compensation passed with a considerable number of votes in favor. These recent developments are part of Tile Shop Holdings' governance process, emphasizing the importance of shareholder participation and accountability.
InvestingPro Insights
The Tile Shop (NASDAQ: TTSH) has not only been expanding its product offerings but also demonstrating robust financial health according to recent metrics. The company's gross profit margin stands out at an impressive 65.3%, indicating efficient cost management and strong pricing power. This is particularly noteworthy for investors, as high gross margins can be a sign of a company's ability to maintain profitability despite fluctuations in sales.
InvestingPro Data also reveals that The Tile Shop holds a market capitalization of approximately $285.54 million, which reflects its value as perceived by the market. While the company's price-to-earnings (P/E) ratio is currently at 51.53, this metric is projected to adjust to a slightly lower 44.42 in the last twelve months as of Q2 2024, suggesting that investors may be expecting growth in the company's earnings.
One of the key InvestingPro Tips for The Tile Shop is its strong return over the last five years, signaling a track record of growth that could be appealing to long-term investors. Additionally, analysts predict the company will be profitable this year, which could further bolster investor confidence. It's worth noting that The Tile Shop does not pay a dividend, indicating that the company may be reinvesting its earnings back into the business to fuel growth.
For those interested in a deeper dive into The Tile Shop's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/TTSH, providing a comprehensive analysis for informed investment decisions.
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