Tile Shop names Kirk Geadelmann as CFO Tile Shop Holdings (TTS) announced the appointment of Kirk Geadelmann as its new CFO. Geadelmann will transition into the role on August 12, succeeding CFO Timothy C. Clayton, who has resigned his position to accept an executive position with another company. Clayton will remain with the company until mid-August to ensure a smooth transition of responsibilities. Prior to joining the company, Geadelmann worked for 14 years at Best Buy (BBY) most recently serving as the corporate and international controller.
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.