FORTUNE ANNOUNCES ITS "100 BEST COMPANIES TO WORK FOR"
The Container Store® lands on list for ninth consecutive year Retailer cited for high pay, job seeker interest and high number of female employees
DALLAS, Jan. 22, 2008 — The Container Store, the nation's originator and leading retailer of storage and organization products, ranks #20 on FORTUNE magazine's annual list of "100 Best Companies to Work For." The announcement coincides with the kick off of the retailer's recruiting efforts for its newest store in Little Rock, AR (opening March 8). Selected to the top of the list for nine consecutive years, the company continues to be the retailer most consistently ranked high on the list and has sustained the highest average position of any company on the list since the company's 2000 list debut. The complete list and related stories will appear in the Feb. 4 issue of FORTUNE, available on newsstands Jan. 28 and at www.fortune.com today. "I can't think of a better gift from our employees as we head into our 30th Anniversary year," said Kip Tindell, Chairman and CEO of The Container Store® "We've worked so hard to maintain and even enhance the focus on our employees as they are the true reason behind The Container Store's success. Without their passion, trust in the company and commitment to delivering impeccable customer service, we wouldn't be where we are today." FORTUNE cited The Container Store's commitment to its generous compensation structure with pay at 50 to 100 percent higher than retail industry average and the retailer's large interest amongst job seekers with nearly 40,000 applicants each year. The retailer hires only 6% of those who apply. The company, with 65% women, was also slotted on the magazine's list of companies with the most women. "The FORTUNE "100 Best" honor has shed such a tremendous spotlight on The Container Store's brand over the past nine years. When we open a store in a new market, it's the first thing we hear from our new customers...that they've heard about our employer-of-choice status," Tindell added. "Our inclusion on the list has not only helped drive more interest in our workplace culture and our recruiting efforts each year, but also drive sales. We're very proud of where our sales and earnings are year-to-date amidst the current retail climate. Again, we have the best employees and the best customers out there who understand that our products and services are useful, functional – and oftentimes, life changing." The outcome of the FORTUNE "100 Best Companies to Work For" list is primarily employeedriven. Two-thirds of the score is based on the Great Place to Work Trust Index, an anonymous employee survey sent to 400 employees, which evaluates trust in management, pride in work and the company, and camaraderie.
The Container Store originated the storage and organization category of retailing when it opened its first location in Dallas in 1978. Today, the retailer's mission remains the same: to offer customers impeccable customer service and innovative products, which save space and, ultimately, save precious time. Guided by The Container Store's "do unto others" business philosophies – called Foundation Principles™ – the company has cultivated a strong, peopleoriented culture for its now more than 4000 employees. This culture and other company best practices, including unprecedented levels of customer service, its training programs that offer more than 241 hours of training in an employee's first year and its unique and innovative approach to recruiting have garnered tremendous national attention for the retailer. As part of the list's application, in addition to the Trust Index, The Container Store was asked to complete The Great Place to Work® Culture Audit©. The survey seeks information of a factual nature including demographic data about the employee population and specific employee benefits or programs. It also explores the company's workplace culture – specifically, what is special, unique or unusual about the organization. Companies were asked to submit supplementary materials such as newsletters, service awards, photos, handbooks and videos. The Audit allowed The Container Store to detail special and unique benefits, opportunities for professional development and personal growth, as well as the ways it shows appreciation for and recognition of its employees. The Container Store currently has 42 locations across the country. The Container Store offers free closet design services every day in its stores and online using elfa, the premiere shelving and drawer system. Visit www.containerstore.com for more information about store locations, the product collection and services offered. Sales for fiscal year 2007 are projected at an excess of $600 million. The Container Store is privately held.