0001104659-20-121578.txt : 20201105 0001104659-20-121578.hdr.sgml : 20201105 20201105073018 ACCESSION NUMBER: 0001104659-20-121578 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20201105 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20201105 DATE AS OF CHANGE: 20201105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TILE SHOP HOLDINGS, INC. CENTRAL INDEX KEY: 0001552800 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-HOME FURNITURE, FURNISHINGS & EQUIPMENT STORES [5700] IRS NUMBER: 455538095 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35629 FILM NUMBER: 201288684 BUSINESS ADDRESS: STREET 1: 14000 CARLSON PARKWAY CITY: PLYMOUTH STATE: MN ZIP: 55441 BUSINESS PHONE: 763-852-2950 MAIL ADDRESS: STREET 1: 14000 CARLSON PARKWAY CITY: PLYMOUTH STATE: MN ZIP: 55441 8-K 1 tm2035094d1_8k.htm FORM 8-K
0001552800 false 0001552800 2020-11-05 2020-11-05 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

  

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

 

FORM 8-K 

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): November 5, 2020

 

TILE SHOP HOLDINGS, INC.

(Exact name of Registrant as Specified in its Charter)

 

Delaware   001-35629   45-5538095
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

14000 Carlson Parkway, Plymouth, Minnesota 55441

(Address of principal executive offices, including ZIP code)

 

(763) 852-2950

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading symbol(s)   Name of each exchange on which registered
None   N/A   N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ¨

 

 

 

 

 

 

Item 2.02Results of Operations and Financial Condition

 

On November 5, 2020, Tile Shop Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended September 30, 2020. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and in this Item 2.02 have been furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing regardless of any general incorporation language.

 

Item 9.01Financial Statements and Exhibits

 

(d)Exhibits.

 

99.1  Press Release of Tile Shop Holdings, Inc., dated November 5, 2020.
    
104  Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

  TILE SHOP HOLDINGS, INC.  
     
     
  By /s/ Nancy DiMattia  
Date: November 5, 2020 Name: Nancy DiMattia   
  Title: Chief Financial Officer  

 

 

 

 EX-99.1 2 tm2035094d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

 

THE TILE SHOP REPORTS Third QUARTER 2020 RESULTS

 

MINNEAPOLIS – November 5, 2020 – Tile Shop Holdings, Inc. (OTC Pink: TTSH) (the “Company”), a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories, today announced results for its third quarter ended September 30, 2020.

 

Third Quarter Summary

 

Net Sales Decreased 5.2%

Comparable Store Sales Decreased 6.5%

Gross Margin of 67.9%

SG&A Expenses Decreased $7.4 Million

Net income of $1.9 Million; Adjusted EBITDA of $11.1 Million

 

 

Management Commentary – Cabell Lolmaugh, CEO

 

“During the quarter, we continued to experience weak sales, though the rate of decline was much less than in the second quarter.  Customer traffic continued to decline, at least partially due to our decision to maintain reduced store hours, both for employee and customer health and safety, in response to COVID-19, and to tightly control our expenses.  The result was a meaningful reduction in SG&A spending year over year.” stated Cabell Lolmaugh, CEO. “This disciplined approach made it possible for us to generate the highest levels of Adjusted EBITDA margin we have reported in over two years and reduce our long-term debt to $7.0 million. As of the end of the third quarter of 2020, we have no net debt.”

 

   Three Months Ended   Nine Months Ended 
(unaudited, amounts in thousands, except per  September 30,   September 30, 
share data)  2020   2019   2020   2019 
Net sales  $81,492   $85,944   $243,501   $261,755 
Net sales decline(1)   (5.2)%   (3.7)%   (7.0)%   (4.2)%
Comparable store sales decline(2)   (6.5)%   (3.5)%   (8.3)%   (4.0)%
Gross margin rate   67.9%   68.8%   68.0%   69.7%
Income (loss) from operations as a % of net sales   3.6%   (0.7)%   1.5%   1.2%
Net income (loss)  $1,914   $(1,383)  $4,656   $(217)
Net income (loss) per diluted share  $0.04   $(0.03)  $0.09   $- 
Adjusted EBITDA  $11,124   $8,338   $29,110   $29,756 
Adjusted EBITDA as a % of net sales   13.7%   9.7%   12.0%   11.4%
Number of stores open at the end of period   142    140    142    140 

 

(1)As compared to the prior year period.
(2)The comparable store sales operating metric is the percentage change in sales of comparable stores period over period. A store is considered comparable on the first day of the 13th full month of operation. When a store is relocated, it is excluded from the comparable store sales calculation. Comparable store sales includes total charges to customers less any actual returns. The Company includes the change in allowance for anticipated sales returns applicable to comparable stores in the comparable store sales calculation. Comparable store sales data reported by other companies may be prepared on a different basis and therefore may not be useful for purposes of comparing the Company’s results to those of other businesses. Company management believes the comparable store sales operating metric provides useful information to both management and investors to evaluate the Company’s performance, the effectiveness of its strategy and its competitive position.

 

THIRD QUARTER 2020

 

Net Sales

Net sales decreased by $4.5 million, or 5.2%, from $85.9 million in the third quarter of 2019 to $81.5 million in the third quarter of 2020. Comparable store sales decreased $5.5 million, or 6.5%, for the third quarter of 2020 compared to the third quarter of 2019, due to lower traffic. The decrease in traffic was partially attributable to a reduction in store hours during the third quarter of 2020 when compared to the third quarter of 2019. Additionally, elevated levels of in stock outages also contributed to the lower level of sales during the third quarter of 2020. Net sales generated by stores not included in the comparable store base increased $1.0 million.

 

 

 

 

Gross Profit

Gross profit decreased by $3.9 million, or 6.5%, from $59.2 million in the third quarter of 2019 to $55.3 million in the third quarter of 2020. The gross margin rate was 67.9% for the third quarter of 2020 and 68.8% for the third quarter of 2019. The decrease in gross margin rate was primarily driven by a higher mix of delivery services rendered during the quarter and an increase in inventory write-downs associated with product transitions.

 

Selling, General and Administrative Expenses

Selling, general and administrative (“SG&A”) expenses decreased by $7.4 million, or 12.4%, from $59.8 million in the third quarter of 2019 to $52.4 million in the third quarter of 2020. The decrease in SG&A expense was primarily due to the decrease in store hours, which contributed to a $3.1 million reduction in compensation and benefits. Additionally, decreases in advertising expenses totaling $1.8 million and a $1.1 million reduction in consulting, audit, legal and IT fees contributed to the lower level of SG&A spending during the three months ended September 30, 2020. Legal expenses incurred in connection with shareholder litigation during the three months ended September 30, 2020 totaled $0.6 million.

 

Inventory

Inventory decreased by $24.6 million from $97.6 million at the end of the fourth quarter of 2019 to $73.0 million at the end of the third quarter of 2020.

 

Long-Term Debt

Long-term debt decreased by $56.0 million from $63.0 million at the end of the fourth quarter of 2019 to $7.0 million at the end of the third quarter of 2020.

 

NON-GAAP INFORMATION

 

Adjusted EBITDA

 

Adjusted EBITDA for the third quarter of 2020 was $11.1 million compared with $8.3 million for the third quarter of 2019. See the table below for a reconciliation of GAAP net (loss) income to Adjusted EBITDA.

 

   Three Months Ended 
($ in thousands)  September 30, 
   2020   % of net sales(1)   2019   % of net sales(1) 
GAAP net income (loss)  $1,914    2.3%  $(1,383)   (1.6)%
Interest expense   239    0.3    1,027    1.2 
Income taxes   748    0.9    (274)   (0.3)
Depreciation and amortization   7,656    9.4    8,308    9.7 
Stock-based compensation   567    0.7    660    0.8 
Adjusted EBITDA  $11,124    13.7%  $8,338    9.7%

 

   Nine Months Ended 
($ in thousands)  September 30, 
   2020   % of net sales(1)   2019   % of net sales(1) 
GAAP net income (loss)  $4,656    1.9%  $(217)   (0.1)%
Interest expense   1,646    0.7    2,948    1.1 
Income taxes   (2,601)   (1.1)   348    0.1 
Depreciation and amortization   23,738    9.7    24,508    9.4 
Stock-based compensation   1,671    0.7    2,169    0.8 
Adjusted EBITDA  $29,110    12.0%  $29,756    11.4%

 

(1) Amounts do not foot due to rounding.

 

Pretax Return on Capital Employed

 

Pretax Return on Capital Employed was (0.4%) for the trailing twelve months as of the end of the third quarter of 2020 compared to 1.7% for the trailing twelve months as of the end of the third quarter of 2019. See the Pretax Return on Capital Employed calculation in the table below.

 

2 

 

 

($ in thousands)  September 30, 
   2020(1)   2019(1) 
(Loss) income from operations (trailing twelve months)  $(712)  $3,762 
           
Total Assets   378,380    389,561 
Less: Accounts payable   (15,605)   (25,280)
Less: Income tax payable   (110)   (72)
Less: Other accrued liabilities   (35,986)   (26,119)
Less: Lease liability(2)   (154,962)   (114,490)
Less: Other long-term liabilities   (4,185)   (3,669)
Capital Employed   167,532    219,931 
           
Pretax Return on Capital Employed   (0.4)%   1.7%

 

(1) Income statement accounts represent the activity for the trailing twelve months ended as of each of the balance sheet dates. Balance sheet accounts represent the average account balance for the four quarters ended as of each of the balance sheet dates.

(2) Represents the average lease liability and deferred rent account balances for the four quarters ended as of each of the balance sheet dates.

 

Net Debt

 

Net Debt decreased by $55.9 million from $53.9 million at December 31, 2019 to $(2.0) million at September 30, 2020. See calculation of net debt in the table below.

 

(unaudited, $ in thousands)  September 30,
2020		   December 31,
2019		 
         
Long-term debt, net  $7,000   $63,000 
Cash and cash equivalents   8,961    9,104 
Net Debt  $(1,961)  $53,896 

 

Non-GAAP Financial Measures

 

The Company calculates Adjusted EBITDA by taking net income (loss) calculated in accordance with GAAP, and adjusting for interest expense, income taxes, depreciation and amortization, and stock-based compensation expense. Adjusted EBITDA margin is equal to Adjusted EBITDA divided by net sales. The Company calculates Pretax Return on Capital Employed by taking income (loss) from operations divided by capital employed. Capital employed equals total assets less accounts payable, income taxes payable, other accrued liabilities, deferred rent, lease liability and other long-term liabilities. The Company calculates Net Debt by taking long-term debt, net and subtracting cash and cash equivalents. Other companies may calculate Adjusted EBITDA, Pretax Return on Capital Employed and Net Debt differently, limiting the usefulness of these measures for comparative purposes.

 

The Company believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. Company management uses these non-GAAP measures to compare Company performance to that of prior periods for trend analyses, for purposes of determining management incentive compensation, for budgeting and planning purposes, for assessing the effectiveness of capital allocation over time and understanding total indebtedness of the Company after consideration of liquidity available from cash balances on-hand. These measures are used in monthly financial reports prepared for management and the Board of Directors. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other specialty retailers, many of which present similar non-GAAP financial measures to investors.

 

Company management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the Company’s consolidated financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. The Company urges investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures and not to rely on any single financial measure to evaluate the business.

 

3 

 

 

IMPACT OF THE COVID-19 PANDEMIC

 

The COVID-19 pandemic has impacted, and is likely to continue impacting, the Company’s operations. As previously announced, the Company took steps to reduce SG&A expenses by eliminating a portion of its workforce, curtailing advertising spending, reducing the number of replenishment trucks sent from the Company’s distribution centers to its stores and limiting other SG&A spending when possible. As traffic and sales started to recover toward the end of the second quarter of 2020, the Company took a cautious approach to investing in activities that would increase SG&A expenses. While many retailers elected to expand their hours as state and local restrictions started to ease, the Company maintained a reduced hours schedule throughout the third quarter of 2020. The decision to limit the number of hours that the Company’s stores were open had an adverse impact on customer traffic and sales, which contributed to a 6.5% decrease in sales at comparable stores; however, the SG&A savings realized contributed to a $3.5 million improvement in operating income during the third quarter of 2020 when compared to the third quarter of 2019.

 

During the third quarter of 2020, the Company continued to follow a practice to close its stores, quarantine affected staff and complete a rigorous cleaning process before reopening the store when a health risk was identified. This process can take 2-3 days to complete and has had an adverse impact on the Company’s sales. The Company is committed to continuing this practice to help protect the health of its employees and customers.

 

The Company experienced an elevated level of product outages during the third quarter due to vendor production delays. In many instances, vendor plants were forced to close or operate at a reduced capacity pursuant to a government mandate following the onset of COVID-19. While most vendors have been able to resume normal operations, many continue to work through large backlogs. The Company is actively partnering with its vendors to secure delivery of backordered product.

 

While the Company is cautiously optimistic with the current business trend, the recent escalation of COVID-19 cases across many of the markets that the Company serves could have a negative impact on the Company. Specifically, the Company could be adversely impacted by limitations on the Company’s employees to perform their work due to illness caused by the pandemic or local, state, or federal orders requiring the Company’s stores to close or employees to remain at home; limitation of carriers to deliver the Company’s product to customers; product shortages; limitations on the ability of the Company’s customers to conduct their business and purchase the Company’s products and services; and limitations on the ability of the Company’s customers to pay the Company in a timely manner. These events could have a material, adverse effect on the Company’s results of operations, cash flows and liquidity. In addition, even after the COVID-19 pandemic has subsided, the Company may continue to experience adverse impacts to its business as a result of the economic impact of the pandemic, including any recession that has occurred or may occur in the future.

 

WEBCAST AND CONFERENCE CALL

 

As announced on October 29, 2020, the Company will host a conference call via webcast for investors and other interested parties beginning at 9:00 a.m., Eastern Time, on Thursday, November 5, 2020. The call will be hosted by Cabell Lolmaugh, CEO, Nancy DiMattia, CFO, and Mark Davis, Investor Relations.

 

Participants may access the webcast by visiting the Company’s Investor Relations page at www.tileshop.com. The call can also be accessed by dialing (844) 421-0597 or (716) 247-5787 for international participants. Management will not be taking questions during the conference call. A webcast replay of the call will be available on the Company’s Investor Relations page at www.tileshop.com.

 

Additional details can be located at www.tileshop.com under Financial Information – SEC Filings section of the Company’s Investor Relations page.

 

Contact:

Investors and Media:

Mark Davis

763-852-2978

mark.davis@tileshop.com

 

ABOUT THE TILE SHOP

 

Tile Shop Holdings, Inc. (OTC Pink: TTSH), is a leading specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. The Tile Shop offers a wide selection of high-quality products, exclusive designs, knowledgeable staff and exceptional customer service in an extensive showroom environment. The Tile Shop currently operates 142 stores in 31 states and the District of Columbia.

 

The Tile Shop is a proud member of the American Society of Interior Designers (ASID), National Association of Homebuilders (NAHB), National Kitchen and Bath Association (NKBA), and the National Tile Contractors Association (NTCA). Visit www.tileshop.com. Join The Tile Shop (#thetileshop) on Facebook, Instagram, Pinterest and Twitter.

 

FORWARD LOOKING STATEMENTS

 

This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements include any statements regarding the Company’s strategic and operational plan and expected financial performance. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward looking statements are based on information available at the time such statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements, including but not limited to unforeseen events that may affect the retail market or the performance of the Company’s stores. Many of the Company’s risks have been, and may further be, exacerbated by the COVID-19 pandemic. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances. Investors are referred to the most recent reports filed with the SEC by the Company.

 

4 

 

 

Tile Shop Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

($ in thousands, except share data)

 

   (Unaudited)   (Audited) 
   September 30,   December 31, 
   2020   2019 
Assets          
Current assets:          
Cash and cash equivalents  $8,961   $9,104 
Restricted cash   735    815 
Receivables, net   3,300    3,370 
Inventories   72,954    97,620 
Income tax receivable   7,691    3,090 
Other current assets, net   25,396    8,180 
Total Current Assets   119,037    122,179 
Property, plant and equipment, net   105,778    130,461 
Right of use asset   133,256    137,737 
Deferred tax assets   6,455    7,196 
Other assets   1,480    2,241 
Total Assets  $366,006   $399,814 
           
Liabilities and Stockholders’ Equity          
Current liabilities:          
Accounts payable  $15,596   $18,181 
Income tax payable   112    87 
Current portion of lease liability   28,239    26,993 
Other accrued liabilities   49,269    24,589 
Total Current Liabilities   93,216    69,850 
Long-term debt, net   7,000    63,000 
Long-term lease liability   124,678    131,451 
Financing lease obligation, net   -    274 
Other long-term liabilities   3,981    4,340 
Total Liabilities   228,875    268,915 
           
Stockholders’ Equity:          
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 51,693,455 and 50,806,674 shares, respectively   5    5 
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares   -    - 
Additional paid-in-capital   158,037    156,482 
Accumulated deficit   (20,862)   (25,518)
Accumulated other comprehensive loss   (49)   (70)
Total Stockholders’ Equity   137,131    130,899 
Total Liabilities and Stockholders’ Equity  $366,006   $399,814 

 

5 

 

 

Tile Shop Holdings, Inc. and Subsidiaries

Consolidated Statements of Operations

($ in thousands, except share and per share data)

(Unaudited)

 

   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2020   2019   2020   2019 
Net sales  $81,492   $85,944   $243,501   $261,755 
Cost of sales   26,188    26,775    77,828    79,384 
Gross profit   55,304    59,169    165,673    182,371 
Selling, general and administrative expenses   52,403    59,804    161,972    179,314 
Income (loss) from operations   2,901    (635)   3,701    3,057 
Interest expense   (239)   (1,027)   (1,646)   (2,948)
Other income   -    5    -    22 
Income (loss) before income taxes   2,662    (1,657)   2,055    131 
(Provision) benefit for income taxes   (748)   274    2,601    (348)
Net (loss) income  $1,914   $(1,383)  $4,656   $(217)
                     
Income (loss) per common share:                    
Basic  $0.04   $(0.03)  $0.09   $(0.00)
Diluted  $0.04   $(0.03)  $0.09   $(0.00)
                     
Weighted average shares outstanding:                    
Basic   50,009,000    49,769,739    49,926,083    50,901,289 
Diluted   50,687,558    49,769,739    50,321,146    50,901,289 

 

Tile Shop Holdings, Inc. and Subsidiaries

Rate Analysis

(Unaudited)

 

   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2020   2019   2020   2019 
Gross margin rate   67.9%   68.8%   68.0%   69.7%
SG&A expense rate   64.3%   69.6%   66.5%   68.5%
Income  (loss) from operations margin rate   3.6%   (0.7)%   1.5%   1.2%
Adjusted EBITDA margin rate   13.7%   9.7%   12.0%   11.4%


 

6 

 

 

Tile Shop Holdings, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

 

   Nine Months Ended 
   September 30, 
   2020   2019 
Cash Flows From Operating Activities          
Net income  $4,656   $(217)
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization   23,738    24,508 
Amortization of debt issuance costs   398    446 
Loss on disposals of property, plant and equipment   -    90 
Impairment charges   2,155    - 
Non-cash lease expense   17,895    17,178 
Stock based compensation   1,671    2,169 
Deferred income taxes   741    190 
Changes in operating assets and liabilities:   -    - 
Receivables   70    (1,527)
Inventories   24,666    10,015 
Prepaid expenses and other assets   (1,953)   47 
Accounts payable   (2,677)   (3,307)
Income tax receivable / payable   (4,576)   (362)
Accrued expenses and other liabilities   (9,437)   (15,618)
Net cash provided by operating activities   57,347    33,612 
Cash Flows From Investing Activities          
Purchases of property, plant and equipment   (1,315)   (22,839)
Proceeds from insurance   -    610 
Net cash used in investing activities   (1,315)   (22,229)
Cash Flows From Financing Activities          
Payments of long-term debt and financing lease obligations   (120,262)   (43,153)
Advances on line of credit   64,100    53,000 
Dividends paid   -    (7,706)
Repurchases of common stock   -    (10,455)
Employee taxes paid for shares withheld   (116)   (226)
Net cash used in financing activities   (56,278)   (8,540)
Effect of exchange rate changes on cash   23    (29)
 Net change in cash, cash equivalents and restricted cash   (223)   2,814 
Cash, cash equivalents and restricted cash beginning of period   9,919    6,382 
Cash, cash equivalents and restricted cash end of period  $9,696   $9,196 
           
Cash and cash equivalents  $8,961   $8,371 
Restricted cash   735    825 
Cash, cash equivalents and restricted cash end of period  $9,696   $9,196 
           
Supplemental disclosure of cash flow information          
Purchases of property, plant and equipment included in accounts payable and accrued expenses  $8   $1,320 
Cash paid for interest   1,797    2,853 
Cash paid (received) for income taxes, net   1,208    471 

 

7 

 

 EX-101.SCH 3 tts-20201105.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 tts-20201105_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Document Type Amendment Flag Amendment Description Document Registration Statement Document Annual Report Document Quarterly Report Document Transition Report Document Shell Company Report Document Shell Company Event Date Document Period Start Date Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Current Fiscal Year End Date Entity File Number Entity Registrant Name Entity Central Index Key Entity Primary SIC Number Entity Tax Identification Number Entity Incorporation, State or Country Code Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Three Entity Address, City or Town Entity Address, State or Province Entity Address, Country Entity Address, Postal Zip Code Country Region City Area Code Local Phone Number Extension Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Title of 12(b) Security No Trading Symbol Flag Trading Symbol Security Exchange Name Title of 12(g) Security Security Reporting Obligation Annual Information Form Audited Annual Financial Statements Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Interactive Data Current Entity Filer Category Entity Small Business Entity Emerging Growth Company Elected Not To Use the Extended Transition Period Document Accounting Standard Other Reporting Standard Item Number Entity Shell Company Entity Public Float Entity Bankruptcy Proceedings, Reporting Current Entity Common Stock, Shares Outstanding Documents Incorporated by Reference [Text Block] EX-101.PRE 5 tts-20201105_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 6 image_001.jpg GRAPHIC begin 644 image_001.jpg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end XML 7 tm2035094d1_8k_htm.xml IDEA: XBRL DOCUMENT 0001552800 2020-11-05 2020-11-05 iso4217:USD shares iso4217:USD shares 0001552800 false 8-K 2020-11-05 TILE SHOP HOLDINGS, INC. DE 001-35629 45-5538095 14000 Carlson Parkway Plymouth MN 55441 763 852-2950 false false false false false XML 8 R1.htm IDEA: XBRL DOCUMENT v3.20.2
Cover
Nov. 05, 2020
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Nov. 05, 2020
Entity File Number 001-35629
Entity Registrant Name TILE SHOP HOLDINGS, INC.
Entity Central Index Key 0001552800
Entity Tax Identification Number 45-5538095
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 14000 Carlson Parkway
Entity Address, City or Town Plymouth
Entity Address, State or Province MN
Entity Address, Postal Zip Code 55441
City Area Code 763
Local Phone Number 852-2950
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.2 html 1 95 1 false 0 0 false 3 false false R1.htm 00000001 - Document - Cover Sheet http://tileshop.com/role/Cover Cover Cover 1 false false All Reports Book All Reports tm2035094d1_8k.htm tm2035094d1_ex99-1.htm tts-20201105.xsd tts-20201105_lab.xml tts-20201105_pre.xml http://xbrl.sec.gov/dei/2020-01-31 true false JSON 14 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "tm2035094d1_8k.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "definitionLink": { "remote": [ "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-eedm-def-2020-01-31.xml", "http://xbrl.fasb.org/srt/2020/elts/srt-eedm1-def-2020-01-31.xml" ] }, "inline": { "local": [ "tm2035094d1_8k.htm" ] }, "labelLink": { "local": [ "tts-20201105_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml" ] }, "presentationLink": { "local": [ "tts-20201105_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml" ] }, "schema": { "local": [ "tts-20201105.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd", "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd", "http://xbrl.fasb.org/srt/2020/elts/srt-roles-2020-01-31.xsd", "https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 59, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2020-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 95, "memberCustom": 0, "memberStandard": 0, "nsprefix": "tts", "nsuri": "http://tileshop.com/20201105", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "b", "p", "body", "html" ], "baseRef": "tm2035094d1_8k.htm", "contextRef": "From2020-11-05to2020-11-05", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "00000001 - Document - Cover", "role": "http://tileshop.com/role/Cover", "shortName": "Cover", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "b", "p", "body", "html" ], "baseRef": "tm2035094d1_8k.htm", "contextRef": "From2020-11-05to2020-11-05", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentDescription": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Description of changes contained within amended document.", "label": "Amendment Description" } } }, "localname": "AmendmentDescription", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "stringItemType" }, "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_AnnualInformationForm": { "auth_ref": [ "r12" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.", "label": "Annual Information Form" } } }, "localname": "AnnualInformationForm", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_AuditedAnnualFinancialStatements": { "auth_ref": [ "r12" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.", "label": "Audited Annual Financial Statements" } } }, "localname": "AuditedAnnualFinancialStatements", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Area code of city", "label": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CountryRegion": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Region code of country", "label": "Country Region" } } }, "localname": "CountryRegion", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "xbrltype": "stringItemType" }, "dei_CurrentFiscalYearEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "End date of current fiscal year in the format --MM-DD.", "label": "Current Fiscal Year End Date" } } }, "localname": "CurrentFiscalYearEndDate", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "gMonthDayItemType" }, "dei_DocumentAccountingStandard": { "auth_ref": [ "r11" ], "lang": { "en-US": { "role": { "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.", "label": "Document Accounting Standard" } } }, "localname": "DocumentAccountingStandard", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "accountingStandardItemType" }, "dei_DocumentAnnualReport": { "auth_ref": [ "r9", "r11", "r12" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true only for a form used as an annual report.", "label": "Document Annual Report" } } }, "localname": "DocumentAnnualReport", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentFiscalPeriodFocus": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.", "label": "Document Fiscal Period Focus" } } }, "localname": "DocumentFiscalPeriodFocus", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "fiscalPeriodItemType" }, "dei_DocumentFiscalYearFocus": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.", "label": "Document Fiscal Year Focus" } } }, "localname": "DocumentFiscalYearFocus", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "gYearItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentPeriodStartDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format.", "label": "Document Period Start Date" } } }, "localname": "DocumentPeriodStartDate", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentQuarterlyReport": { "auth_ref": [ "r10" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true only for a form used as an quarterly report.", "label": "Document Quarterly Report" } } }, "localname": "DocumentQuarterlyReport", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentRegistrationStatement": { "auth_ref": [ "r18" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true only for a form used as a registration statement.", "label": "Document Registration Statement" } } }, "localname": "DocumentRegistrationStatement", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentShellCompanyEventDate": { "auth_ref": [ "r11" ], "lang": { "en-US": { "role": { "documentation": "Date of event requiring a shell company report.", "label": "Document Shell Company Event Date" } } }, "localname": "DocumentShellCompanyEventDate", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentShellCompanyReport": { "auth_ref": [ "r11" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.", "label": "Document Shell Company Report" } } }, "localname": "DocumentShellCompanyReport", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentTransitionReport": { "auth_ref": [ "r13" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true only for a form used as a transition report.", "label": "Document Transition Report" } } }, "localname": "DocumentTransitionReport", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "submissionTypeItemType" }, "dei_DocumentsIncorporatedByReferenceTextBlock": { "auth_ref": [ "r1" ], "lang": { "en-US": { "role": { "documentation": "Documents incorporated by reference.", "label": "Documents Incorporated by Reference [Text Block]" } } }, "localname": "DocumentsIncorporatedByReferenceTextBlock", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "textBlockItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine3": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 3 such as an Office Park", "label": "Entity Address, Address Line Three" } } }, "localname": "EntityAddressAddressLine3", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCountry": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "ISO 3166-1 alpha-2 country code.", "label": "Entity Address, Country" } } }, "localname": "EntityAddressCountry", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "countryCodeItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityBankruptcyProceedingsReportingCurrent": { "auth_ref": [ "r4" ], "lang": { "en-US": { "role": { "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not. Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.", "label": "Entity Bankruptcy Proceedings, Reporting Current" } } }, "localname": "EntityBankruptcyProceedingsReportingCurrent", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityCommonStockSharesOutstanding": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.", "label": "Entity Common Stock, Shares Outstanding" } } }, "localname": "EntityCommonStockSharesOutstanding", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "sharesItemType" }, "dei_EntityCurrentReportingStatus": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.", "label": "Entity Current Reporting Status" } } }, "localname": "EntityCurrentReportingStatus", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityExTransitionPeriod": { "auth_ref": [ "r17" ], "lang": { "en-US": { "role": { "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.", "label": "Elected Not To Use the Extended Transition Period" } } }, "localname": "EntityExTransitionPeriod", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "fileNumberItemType" }, "dei_EntityFilerCategory": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.", "label": "Entity Filer Category" } } }, "localname": "EntityFilerCategory", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "filerCategoryItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityInteractiveDataCurrent": { "auth_ref": [ "r15" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).", "label": "Entity Interactive Data Current" } } }, "localname": "EntityInteractiveDataCurrent", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityPrimarySicNumber": { "auth_ref": [ "r12" ], "lang": { "en-US": { "role": { "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.", "label": "Entity Primary SIC Number" } } }, "localname": "EntityPrimarySicNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "sicNumberItemType" }, "dei_EntityPublicFloat": { "auth_ref": [], "crdr": "credit", "lang": { "en-US": { "role": { "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.", "label": "Entity Public Float" } } }, "localname": "EntityPublicFloat", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "monetaryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityShellCompany": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.", "label": "Entity Shell Company" } } }, "localname": "EntityShellCompany", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntitySmallBusiness": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).", "label": "Entity Small Business" } } }, "localname": "EntitySmallBusiness", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r14" ], "lang": { "en-US": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "employerIdItemType" }, "dei_EntityVoluntaryFilers": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.", "label": "Entity Voluntary Filers" } } }, "localname": "EntityVoluntaryFilers", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_EntityWellKnownSeasonedIssuer": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.", "label": "Entity Well-known Seasoned Issuer" } } }, "localname": "EntityWellKnownSeasonedIssuer", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "yesNoItemType" }, "dei_Extension": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Extension number for local phone number.", "label": "Extension" } } }, "localname": "Extension", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_NoTradingSymbolFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true only for a security having no trading symbol.", "label": "No Trading Symbol Flag" } } }, "localname": "NoTradingSymbolFlag", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_OtherReportingStandardItemNumber": { "auth_ref": [ "r11" ], "lang": { "en-US": { "role": { "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.", "label": "Other Reporting Standard Item Number" } } }, "localname": "OtherReportingStandardItemNumber", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "otherReportingStandardItemNumberItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r6" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-US": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_Security12gTitle": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "Title of a 12(g) registered security.", "label": "Title of 12(g) Security" } } }, "localname": "Security12gTitle", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-US": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SecurityReportingObligation": { "auth_ref": [ "r7" ], "lang": { "en-US": { "role": { "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.", "label": "Security Reporting Obligation" } } }, "localname": "SecurityReportingObligation", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "securityReportingObligationItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r8" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r16" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2020-01-31", "presentation": [ "http://tileshop.com/role/Cover" ], "xbrltype": "booleanItemType" } }, "unitCount": 3 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-23" }, "r10": { "Name": "Form 10-Q", "Number": "240", "Publisher": "SEC", "Section": "308", "Subsection": "a" }, "r11": { "Name": "Form 20-F", "Number": "249", "Publisher": "SEC", "Section": "220", "Subsection": "f" }, "r12": { "Name": "Form 40-F", "Number": "249", "Publisher": "SEC", "Section": "240", "Subsection": "f" }, "r13": { "Name": "Forms 10-K, 10-Q, 20-F", "Number": "240", "Publisher": "SEC", "Section": "13", "Subsection": "a-1" }, "r14": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r15": { "Name": "Regulation S-T", "Number": "232", "Publisher": "SEC", "Section": "405" }, "r16": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" }, "r17": { "Name": "Securities Act", "Number": "7A", "Publisher": "SEC", "Section": "B", "Subsection": "2" }, "r18": { "Name": "Securities Act", "Number": "Section", "Publisher": "SEC", "Section": "12" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "g" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12, 13, 15d" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r6": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r7": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "15", "Subsection": "d" }, "r8": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r9": { "Name": "Form 10-K", "Number": "249", "Publisher": "SEC", "Section": "310" } }, "version": "2.1" } ZIP 15 0001104659-20-121578-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-20-121578-xbrl.zip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end