The Container Store has opened its 100th location, in Princeton, NJ, as the company pursues a strategic priority of expanding its reach to new markets and customers.
The new location is the company’s sixth small-format store to open and one of five set to debut in its fiscal 2023, ending March 30, 2024, The Container Store reported. Small stores average 12,500 square feet of selling space. The company developed small-format stores to generate high productivity through a full Custom Spaces Studio featuring its Preston, Avera and Elfa produce lines, as well as a curated assortment of complementary general merchandise and in-home services.
The Container Store is slated to open its next store in Spring 2024 in Gaithersburg, MD.
“Opening our 100th store is a significant milestone as we execute our strategic priority of Expanding Our Reach and continue to unlock our long-term growth potential,” said The Container Stores President and CEO Satish Malhotra. “We continue to be pleased with the productivity of our small-format stores, specifically with the faster adoption of Custom Spaces, which is a key component of future sales growth for The Container Store. At the end of our second quarter, this adoption was averaging 39% of sales per store. In addition, we saw an average of over 60% new customers shopping with us in these locations and the net promoter score for our small-format stores remains incredibly strong at 83.”
