The Container Store is crashing

container store retail

(REUTERS/Andrew Kelly) A Container Store signage is seen in New York November 1, 2013.

Shares of The Container Store tanked by more than 17% in morning trading on Tuesday.

After the market close on Monday, the storage company posted earnings that missed on the top and bottom line.

The company reported fourth quarter adjusted earnings oer share $0.24, missing expectations for earnings of $0.31.

The company posted net sales of $224.3 million for the quarter, missing expectations for revenue of $234 million.

For the full year, revenue totaled $781.9 million.

Comparable store sales fell 0.8% in the fourth quarter, and 1.4% in the full year 2014.

"Our fourth quarter did not conclude according to early-in-the-quarter trends," said CEO Kip Tindell. "Weather was a contributing factor, as we experienced winter storms in February during the vitally important last 4 days of our 50-day Annual Elfa Sale and during the last week of our 19-day Sale’s extension."

Tindell added that the strong dollar impacted sales, wiping 14.9% from net sales of Elfa in the Nordic market due to the greenback's gain against the Swedish krona.

The stock is down 7% year-to-date, and 40% over the past 12 months.

Here's a chart showing the stock's plunge on Tuesday:

Screen Shot 2015 04 28 at 11.58.45 AM

(Google Finance)

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