Tile Shop downgraded to Neutral from Outperform at RW Baird RW Baird downgraded Tile Shop citing questions over the company's internal controls and its rising expense structure. Baird lowered its price target for shares to $13 from $24 after Tile Shop offered guidance that missed expectations.
Tile Shop raises FY15 adjusted EPS view to 28c-33c from 27c-33c Consensus 31c. Tile Shop raises FY15 revenue view to $280M-$290M from $275M-$290M, consensus $285.64M. Gross Margin percentage of net sales is seen at approximately 69%. The updated guidance is based on past performance, anticipated new store openings and current economic conditions.