Tile Shop Holdings, Inc. (TTSH) is a specialty retailer in the United States that focuses on the sale of high-quality tile products and related accessories. The company operates primarily in the retail sector, offering a wide range of natural stone, man-made tiles, luxury vinyl tiles, and setting and maintenance materials. TTSH serves both homeowners and professionals, providing competitive prices and exceptional customer service in extensive showroom environments.
- Man-made tiles - Offers a variety of ceramic, porcelain, glass, cement, wood look, metal, and luxury vinyl tile products.
- Natural stone tiles - Provides marble, travertine, granite, quartz, sandstone, slate, and onyx tiles.
- Setting and maintenance materials - Manufactures and sells thinset, grout, sealers, and installation tools.
- Accessories - Includes trim pieces, mosaics, pencils, listellos, and other unique products.
- Delivery service - Offers delivery through third-party freight providers.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Cabell H. Lolmaugh ExecutiveBoard | Chief Executive Officer and President | Cabell H. Lolmaugh has been the CEO and President of TTSH since January 1, 2019. He previously served in various roles at TTSH, including Senior Vice President and Chief Operating Officer, and has a background in the United States Marine Corps. | View Report → | |
Joseph Kinder Executive | Senior Vice President, Chief Merchant Officer | Joseph Kinder is the Senior Vice President, Chief Merchant Officer at TTSH since February 25, 2025. Previously, he served as Senior Vice President, Supply Chain and Distribution from July 2020 until February 25, 2025 and has held several other roles at TTSH since March 1993. | ||
Mark B. Davis Executive | Senior Vice President, Chief Financial Officer, and Secretary | Mark B. Davis has been serving as the Senior Vice President, Chief Financial Officer, and Secretary of TTSH since April 1, 2024. Previously, he held roles as Vice President, Investor Relations, and Chief Accounting Officer from September 2019 through March 2024, and as Controller from 2014 until September 2019. | ||
Deborah K. Glasser Board | Member of the Board of Directors | Principal of PathFinder Consulting | Deborah K. Glasser has served as a member of the Board of Directors at TTSH since July 2020 and currently chairs its Compensation Committee since June 14, 2022. She brings extensive experience from senior marketing and management roles across various industries. | |
Linda Solheid Board | Member of the Board of Directors | Linda Solheid has served as a Board Member at TTSH since July 2020. She brings extensive experience in IT leadership and risk management to her role, contributing significantly to TTSH's governance. | ||
Mark J. Bonney Board | Member of the Board of Directors | President and CEO of On Board Advisors, LLC; Board Member at Plug Power Inc. | Mark J. Bonney has served as a board member at TTSH since July 2020, demonstrating extensive experience in executive leadership and financial management. He also holds external roles as President and CEO of On Board Advisors, LLC and as a board member at Plug Power Inc. since July 2023. | |
Peter H. Kamin Board | Chairman of the Board | Managing Partner at 3K Limited Partnership ; Director at Psychemedics Corporation | Peter H. Kamin has served as the Chairman of the Board at TTSH since August 2012. He has extensive experience in investment management and board governance, having joined TTSH first as a board member in January 2012. | |
Peter J. Jacullo III Board | Board Member | President and sole member of the board of directors of JWTS, Inc. ; Co-trustee of the Katherine D. Jacullo Children's 1993 Irrevocable Trust | Board Member at TTSH since August 2012 ; previously served on The Tile Shop, LLC's board of managers from December 2007 to August 2012 and held roles at the Boston Consulting Group and as a self-employed investor and consultant. |
- Comparable store sales declined by 4% while tile volume increased; can you detail the specific initiatives you plan to implement to address lower store traffic and ensure sustainable revenue growth?
- With evolving tariff policies and a diversified supplier base spanning over 25 countries, how do you anticipate shifts in tariffs impacting your cost structure and product pricing strategy in the near term?
- You noted a 20 basis point increase in gross margin largely due to reduced inventory write-offs; to what extent can management expect this improvement to continue amid ongoing supply chain challenges?
- SG&A expenses remained similar to the previous year despite cost savings in depreciation and benefits, offset by increases in marketing, training, and IT expenses; can you clarify the rationale behind these spending increases and how they align with your overall strategic objectives?
- Exclusive partnerships with designers have contributed to product differentiation, yet you are introducing products with lower average selling prices; how do you balance the trade-off between volume growth and maintaining high average ticket values to protect profitability?
Recent press releases and 8-K filings for TTSH.
- Q1 2025 saw comparable store sales decline by 4% due to lower store traffic, though increased tile volume sales from a broader product assortment helped offset the impact .
- Gross margin improved to 66.0% (a 20 bp increase) thanks to lower inventory write-offs, despite higher customer delivery mix costs .
- Net sales decreased by 4.1%, reflecting softer traffic amid evolving trade conditions .
- The company posted adjusted EBITDA of $4.6 million and net income of $0.2 million for the period .
- SG&A expenses were $57.9 million, with cost savings from a distribution center closure and reduced benefits partially offset by increased spending in marketing, IT, and training, along with anticipated sublease income .
- Q1 2025 generated $10 million in operating cash flow, boosting cash to $27.1 million at quarter-end .
- Q4 2024 Performance: Net sales declined by 5.9% and comparable store sales dropped by 5.8%, resulting in a net loss of $0.6 million and adjusted EBITDA of $3.4 million .
- Full-Year 2024 Results: Net sales decreased by 8.0%, with net income of $2.3 million and adjusted EBITDA reaching $22.6 million .
- Margins & Store Sales Trends: Q4 gross margin fell by 50 basis points to 64.2% while annual gross margins improved to 65.7%, alongside a 7.8% decline in comparable store sales for the year .
- Market Challenges: Softer store traffic and broader housing market challenges weighed on performance in both Q4 and full-year results .
- Strategic Initiatives: The company is relaunching its Superior product line and expanding entry-level offerings to drive average order value despite ongoing tile volume declines .
- Financial Strength: Ended 2024 with $21 million in cash and zero bank debt, supported by robust operating cash flow of $27.1 million .