Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Feb. 22, 2019	Jun. 30, 2018
Document And Entity Information
Entity Registrant Name	TILE SHOP HOLDINGS, INC.
Entity Central Index Key	0001552800
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Document Type	10-K
Document Fiscal Period Focus	FY
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Current Fiscal Year End Date	--12-31
Trading Symbol	tts
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding (in shares)		52,921,546
Entity Public Float			$ 300,224,848

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 5,557	$ 6,621
Restricted cash	825	855
Receivables, net	3,084	2,381
Inventories	110,095	85,259
Income tax receivable	3,548	5,726
Other current assets, net	7,181	4,717
Total Current Assets	130,290	105,559
Property, plant and equipment, net	158,356	151,405
Deferred tax assets	7,225	11,654
Other assets	1,759	2,107
Total Assets	297,630	270,725
Current liabilities:
Accounts payable	25,853	30,771
Current portion of long-term debt		8,833
Income tax payable	179	17
Other accrued liabilities	24,484	22,413
Total Current Liabilities	50,516	62,034
Long-term debt, net	53,000	18,182
Capital lease obligation, net	436	576
Deferred rent	43,579	41,290
Other long-term liabilities	3,752	4,769
Total Liabilities	151,283	126,851
Stockholders’ Equity:
Common stock, par value $0.0001; authorized: 100,000,000 shares; issued and outstanding: 52,707,879 and 52,156,850 shares, respectively	5	5
Preferred stock, par value $0.0001; authorized: 10,000,000 shares; issued and outstanding: 0 shares
Additional paid-in-capital	172,255	180,109
Accumulated deficit	(25,857)	(36,239)
Accumulated other comprehensive income (loss)	(56)	(1)
Total Stockholders' Equity	146,347	143,874
Total Liabilities and Stockholders' Equity	$ 297,630	$ 270,725

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets [Abstract]
Common stock, par value (per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	52,707,879	52,156,850
Common stock, shares outstanding	52,707,879	52,156,850
Preferred stock, par value (per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Operations [Abstract]
Net sales	$ 357,254	$ 344,600	$ 324,157
Cost of sales	105,915	108,378	97,261
Gross profit	251,339	236,222	226,896
Selling, general and administrative expenses	233,201	210,376	193,983
Income from operations	18,138	25,846	32,913
Interest expense	(2,690)	(1,857)	(1,715)
Other income	152	170	141
Income before income taxes	15,600	24,159	31,339
Provision for income taxes	(5,158)	(13,340)	(12,876)
Net income	$ 10,442	$ 10,819	$ 18,463
Income per common share:
Basic	$ 0.20	$ 0.21	$ 0.36
Diluted	$ 0.20	$ 0.21	$ 0.36
Weighted average shares outstanding:
Basic	51,907,619	51,700,045	51,418,600
Diluted	52,089,160	51,927,877	51,880,113
Dividends declared per share	$ 0.20	$ 0.20

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income	$ 10,442	$ 10,819	$ 18,463
Currency translation adjustment	(55)	45	(35)
Other comprehensive (loss) income	(55)	45	(35)
Comprehensive income	$ 10,387	$ 10,864	$ 18,428

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Adoption of revenue recognition standard (see Note 1)		$ 687	$ (536)		$ 151
Adjusted balance	$ 5	180,879	(65,521)	$ (11)	115,352
Balance at Dec. 31, 2015	$ 5	180,192	(64,985)	(11)	115,201
Balance (in shares) at Dec. 31, 2015	51,437,973
Issuance of restricted shares (in shares)	73,384
Stock based compensation		4,333			4,333
Stock option exercises		842			842
Stock option exercises (in shares)	95,786
Tax withholdings related to net share settlements of stock-based compensation awards		(56)			(56)
Foreign currency translation adjustments				(35)	(35)
Net income			18,463		18,463
Balance at Dec. 31, 2016	$ 5	$ 185,998	$ (47,058)	$ (46)	$ 138,899
Balance (in shares) at Dec. 31, 2016	51,607,143
Issuance of restricted shares
Issuance of restricted shares (in shares)	324,184
Cancellation of restricted shares (in shares)	(87,849)
Stock based compensation		$ 3,156			$ 3,156
Stock option exercises		1,639			1,639
Stock option exercises (in shares)	313,372
Tax withholdings related to net share settlements of stock-based compensation awards		(318)			(318)
Dividends paid		(10,366)			(10,366)
Foreign currency translation adjustments				$ 45	45
Net income			$ 10,819		10,819
Balance at Dec. 31, 2017	$ 5	$ 180,109	$ (36,239)	$ (1)	$ 143,874
Balance (in shares) at Dec. 31, 2017	52,156,850				52,156,850
Issuance of restricted shares
Issuance of restricted shares (in shares)	682,646
Cancellation of restricted shares (in shares)	(131,617)
Stock based compensation		$ 2,669			$ 2,669
Tax withholdings related to net share settlements of stock-based compensation awards		(119)			(119)
Dividends paid		(10,404)			(10,404)
Foreign currency translation adjustments				$ (55)	(55)
Net income			$ 10,442		10,442
Balance at Dec. 31, 2018	$ 5	$ 172,255	$ (25,857)	$ (56)	$ 146,347
Balance (in shares) at Dec. 31, 2018	52,707,879				52,707,879

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows From Operating Activities
Net income	$ 10,442,000	$ 10,819,000	$ 18,463,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization	28,396,000	26,239,000	23,042,000
Amortization of debt issuance costs	756,000	691,000	487,000
Loss on disposals of property, plant and equipment	353,000	210,000	447,000
Impairment charges on property, plant and equipment	652,000	1,072,000	0
Deferred rent	2,386,000	3,884,000	2,382,000
Stock based compensation	2,669,000	3,156,000	4,333,000
Deferred income taxes	4,429,000	9,737,000	(395,000)
Changes in operating assets and liabilities:
Receivables	(703,000)	33,000	(448,000)
Inventories	(24,836,000)	(10,964,000)	(4,417,000)
Prepaid expenses and other assets	(2,410,000)	4,159,000	(5,849,000)
Accounts payable	(8,201,000)	12,048,000	4,195,000
Income tax receivable / payable	2,229,000	(4,159,000)	(1,917,000)
Accrued expenses and other liabilities	2,008,000	(11,234,000)	13,229,000
Net cash provided by operating activities	18,170,000	45,691,000	53,552,000
Cash Flows From Investing Activities
Purchases of property, plant and equipment	(35,287,000)	(40,556,000)	(27,256,000)
Proceeds from insurance	1,033,000
Proceeds from the sale of property, plant and equipment	111,000	7,000	4,000
Net cash used in investing activities	(34,143,000)	(40,549,000)	(27,252,000)
Cash Flows From Financing Activities
Payments of long-term debt and capital lease obligations	(103,267,000)	(36,575,000)	(37,822,000)
Advances on line of credit	129,095,000	35,000,000	10,000,000
Dividends paid	(10,404,000)	(10,366,000)
Contributions to NMTC fund			3,174,000
Proceeds from exercise of stock options		1,639,000	842,000
Employee taxes paid for shares withheld	(119,000)	(318,000)	(56,000)
Debt issuance costs	(374,000)
Security deposits			(4,000)
Net cash provided by (used in) financing activities	14,931,000	(10,620,000)	(23,866,000)
Effect of exchange rate changes on cash	(52,000)	6,000	(35,000)
Net change in cash	(1,094,000)	(5,472,000)	2,399,000
Cash, cash equivalents and restricted cash beginning of period	7,476,000	12,948,000	10,549,000
Cash, cash equivalents and restricted cash end of period	6,382,000	7,476,000	12,948,000
Cash, cash equivalents and restricted cash end of period	7,476,000	12,948,000	10,549,000
Supplemental disclosure of cash flow information
Purchases of property, plant and equipment included in accounts payable and accrued expenses	3,974,000	636,000	2,271,000
Cash paid for interest	2,625,000	1,822,000	1,811,000
Cash paid for income taxes, net of refunds	$ 1,507,000	$ 7,603,000	$ 15,162,000

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1: Summary of Significant Accounting Policies

Nature of Business

Tile Shop Holdings, Inc. (“Holdings”, and together with its wholly owned subsidiaries, the “Company”) was incorporated in Delaware in June 2012. On August 21, 2012, Holdings consummated the transactions contemplated pursuant to that certain Contribution and Merger Agreement dated as of June 27, 2012, among Holdings, JWC Acquisition Corp., a publicly-held Delaware corporation (“JWCAC”), The Tile Shop, LLC, a privately-held Delaware limited liability company (“The Tile Shop”), and certain other parties. Through a series of transactions, The Tile Shop was contributed to and became a subsidiary of Holdings and Holdings effected a business combination with and became a successor issuer to JWCAC.

The Company is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. Natural stone products include marble, travertine, granite, quartz, sandstone, slate, and onyx tiles. Man-made products include ceramic, porcelain, glass, cement, wood look, and metal tiles. The majority of the tile products are sold under the Company's proprietary Rush River and Fired Earth brand names. The Company purchases tile products, accessories and tools directly from its network of suppliers. The Company manufactures its own setting and maintenance materials, such as thinset, grout and sealer under the Superior brand name. As of December 31, 2018, the Company operated 140 stores in 31 states and the District of Columbia, with an average size of approximately 20,200 square feet. The Company also has a sourcing office located in China.

Basis of Presentation

The consolidated financial statements of Holdings include the accounts of its wholly owned subsidiaries and variable interest entities, for which the Company is the primary beneficiary. See Note 12, “New Market Tax Credit,” for the discussion of financing arrangements involving certain entities that are variable interest entities that are included in these consolidated financial statements. All significant intercompany transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. The Company’s estimates and judgments are based on historical experience and various other assumptions that it believes are reasonable under the circumstances. The amount of assets and liabilities reported on the Company's balance sheets and the amounts of income and expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue recognition and related reserves for sales returns, useful lives of property, plant and equipment, determining impairment of property, plant and equipment, valuation of inventory, and income taxes. Actual results may differ from these estimates.

Cash and Cash Equivalents

The Company had cash and cash equivalents of $5.6 million and $6.6 million at December 31, 2018 and 2017, respectively. The Company considers all highly liquid investments with a maturity date of three months or less when purchased to be cash equivalents. The Company accepts a range of debit and credit cards, and these transactions are generally transmitted to a bank for reimbursement within 24 hours. The payments due from the banks for these debit and credit card transactions are generally received, or settled, within 24 to 48 hours of the transmission date. The Company considers all debit and credit card transactions that settle in less than seven days to be cash and cash equivalents. Amounts due from the banks for these transactions classified as cash and cash equivalents totaled $0.8 million and $3.1 million at December 31, 2018 and 2017, respectively.

Restricted Cash

Cash and cash equivalents that are restricted as to withdrawal or are under the terms of use for current operations are included in the restricted balance on the balance sheet.

Trade Receivables

Trade receivables are carried at original invoice amount less an estimate made for doubtful accounts. Management determines the allowance for doubtful accounts on a specific identification basis as well as by using historical experience applied to an aging of accounts. Trade receivables are written off when deemed uncollectible. Recoveries of trade receivables previously written off are recorded when received. The allowance for doubtful accounts was $0.1 million as of December 31, 2018 and 2017. The Company does not accrue interest on accounts receivable.

Inventories

The Company’s inventory consists of manufactured items and purchased merchandise held for resale. Inventories are stated at the lower of cost (determined using the weighted-average cost method) or net realizable value. The Company capitalizes the cost of inbound freight, duties, and receiving and handling costs to bring purchased materials into its distribution network. The labor and overhead costs incurred in connection with the production process are included in the value of manufactured finished goods. The Company provides provisions for losses related to shrinkage and other amounts that are otherwise not expected to be fully recoverable. These provisions are calculated based on historical shrinkage, selling price, margin and current business trends. These estimates have calculations that require management to make assumptions based on the current rate of sales, age, salability and profitability of inventory, historical percentages that can be affected by changes in our merchandising mix, customer preferences, rates of sale through and changes in actual shrinkage trends. The provision for losses related to shrinkage and other amounts was $0.3 million and $0.2 million as of December 31, 2018 and 2017, respectively.

Income Taxes

The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Deferred tax liabilities and assets are determined based on the difference between the financial statement basis and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company estimates the degree to which tax assets and credit carry forwards will result in a benefit based on expected profitability by tax jurisdiction. A valuation allowance for such tax assets and loss carry forwards is provided when it is determined to be more likely than not that the benefit of such deferred tax asset will not be realized in future periods. If it becomes more likely than not that a tax asset will be used, the related valuation allowance on such assets would be reduced.

The Company records interest and penalties relating to uncertain tax positions in income tax expense. As of December 31, 2018 and 2017, the Company has not recognized any liabilities for uncertain tax positions nor has the Company accrued interest and penalties related to uncertain tax positions.

Revenue Recognition

Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration received in exchange for those goods or services. The Company recognizes service revenue, which consists primarily of freight charges for home delivery, when the service has been rendered. The Company is required to charge and collect sales and other taxes on sales to the Company's customers and remit these taxes back to government authorities. Total revenues do not include sales tax because the Company is a pass-through conduit for collecting and remitting sales tax. Sales are reduced by an allowance for anticipated sales returns that the Company estimates based on historical returns.

The Company generally requires customers to pay a deposit when purchasing inventory that is not regularly carried at the store location, or not currently in stock. These deposits are included in other accrued liabilities until the customer takes possession of the merchandise.

Sales Return Reserve

Customers may return purchased items for an exchange or refund. The process to establish a sales return reserve contains uncertainties because it requires management to make assumptions and to apply judgment to estimate future returns and exchanges. The customer may receive a refund or exchange the original product for a replacement of equal or similar quality for a period of six months from the time of original purchase. Products received back under this policy are reconditioned pursuant to state laws and resold. The Company records a reserve for estimated product returns, based on historical return trends together with current product sales performance.

Cost of Sales and Selling, General and Administrative Expenses

The primary costs classified in each major expense category are:

Cost of Sales

Materials cost;

Shipping and transportation expenses to bring products into the Company's distribution centers;

Custom and duty expenses;

Customer shipping and handling expenses;

Physical inventory losses;

Costs incurred at distribution centers in connection with the receiving process; and

Labor and overhead costs incurred to manufacture inventory

Selling, General & Administrative Expenses

All compensation costs for store, corporate and distribution employees;

Occupancy, utilities and maintenance costs of store and corporate facilities;

Shipping and transportation expenses to move inventory from the Company's distribution centers to the Company's stores;

Depreciation and amortization; and

Advertising costs

Stock Based Compensation

The Company recognizes expense for its stock based compensation based on the fair value of the awards on the grant date. The Company may issue incentive awards in the form of stock options, restricted stock awards and other equity awards to employees and non-employee directors. Compensation expense is recognized on a straight-line basis over the requisite service period, net of actual forfeitures. Certain awards are also subject to forfeiture if the Company fails to attain its Adjusted EBITDA targets. The Company adjusts the cumulative expense recognized on awards with performance conditions based on a probability of achieving the performance condition.

Concentration of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and bank deposits. By their nature, all such instruments involve risks including credit risks of non-performance by counterparties. A substantial portion of the Company's cash and cash equivalents and bank deposits are invested with banks with high investment grade credit ratings.

Segments

The Company’s operations consist primarily of retail sales of natural stone and man-made tiles, setting and maintenance materials, and related accessories in stores located in the United States. The Company’s chief operating decision maker only reviews the consolidated results of the Company and accordingly, the Company has concluded it has one reportable segment.

Advertising Costs

Advertising costs were $8.3 million, $9.5 million and $6.9 million for the years ended December 31, 2018, 2017 and 2016, respectively, and are included in selling, general and administrative expenses in the consolidated statements of operations. The Company’s advertising consists primarily of digital media, direct marketing, events and traditional print media that is expensed at the time the media is distributed.

Pre-opening Costs

The Company’s pre-opening costs are those typically associated with the opening of a new store and generally include rent expense, compensation costs and promotional costs. The Company expenses pre-opening costs as incurred which are recorded in selling, general and administrative expenses. During the years ended December 31, 2018, 2017 and 2016, the Company reported pre-opening costs of $0.1 million, $1.7 million and $0.5 million, respectively.

Property, Plant and Equipment

Property, plant and equipment and leasehold improvements are recorded at cost. Improvements are capitalized while repairs and maintenance costs are charged to selling, general and administrative expenses when incurred. Property, plant and equipment are depreciated or amortized using the straight-line method over each asset’s estimated useful life. Leasehold improvements and fixtures at leased locations are amortized using the straight-line method over the shorter of the lease term (including fixed rate renewal terms) or the estimated useful life of the asset. The cost and accumulated depreciation of assets sold or otherwise disposed of are removed from the accounts and any gain or loss thereon is included in other income and expense.



	Asset life (in years)
Buildings and building improvements		40
Leasehold improvements	8	–	26
Furniture and fixtures	2	–	7
Machinery and equipment	5	–	10
Computer equipment and software	3	–	7
Vehicles		5

The Company evaluates potential impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets may be impaired, and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. If impairment exists and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amount of those assets, an impairment loss is recorded based on the difference between the carrying value and fair value of the assets. During the fiscal years ended December 31, 2018 and 2017, the Company recorded asset impairment charges of $0.7 million and $1.1 million, which were classified in selling, general and administrative expenses. No impairment charges were recorded during the year ended December 31, 2016.

Internal Use Software

The Company capitalizes software development costs incurred during the application development stage related to new software or major enhancements to the functionality of existing software that is developed solely to meet the Company’s internal operational needs and when there are no plans to market the software externally. Costs capitalized include external direct costs of materials and services and internal compensation costs. Any costs during the preliminary project stage or related to training or maintenance are expensed as incurred. Capitalization ceases when the software project is substantially complete and ready for its intended use. The capitalization and ongoing assessment of recoverability of development costs requires considerable judgment by management with respect to certain external factors, including, but not limited to, technological and economic feasibility, and estimated economic life. As of December 31, 2018 and 2017, $3.2 million and $0.2 million was included in computer equipment and software, respectively. As of December 31, 2018, $6.6 million was also included in construction in progress primarily relating to the Company’s new enterprise resource planning system. The internal use software costs are amortized over estimated useful lives of three to seven years. There was $0.3 million, $0.2 million and $0.5 million of amortization expense related to capitalized software during the years ended December 31, 2018, 2017 and 2016, respectively.

Leases

The Company leases its store locations and corporate headquarters. We also lease our distribution center in Dayton, New Jersey. Assets held under capital leases are included in property, plant and equipment and amortization is included in depreciation expense. Operating lease rentals are expensed on a straight-line basis over the life of the lease beginning on the date the Company takes possession of the property. Tenant improvement allowances are amounts received from a lessor for improvements to leased properties and are amortized against rent expense over the life of the respective leases. At lease inception, the Company determines the lease term by assuming the exercise of those renewal options that are reasonably assured. The exercise of lease renewal options is at the Company’s sole discretion. The lease term is used to determine whether a lease is capital or operating and is used to calculate straight-line rent expense. Additionally, the depreciable life of leased assets and leasehold improvements is limited by the expected lease term. Rent expense is included in selling, general and administrative expenses. Certain leases require the Company to pay real estate taxes, insurance, maintenance and other operating expenses associated with the leased premises. These expenses are also classified in selling, general and administrative expenses.

Self-Insurance

The Company is self-insured for certain employee health and workers’ compensation claims. The Company estimates a liability for aggregate losses below stop-loss coverage limits based on estimates of the ultimate costs to be incurred to settle known claims and claims not reported as of the balance sheet date. The estimated liability is not discounted and is based on a number of assumptions and factors including historical trends, and economic conditions. As of December 31, 2018 and 2017, an accrual of $0.6 million and $0.3 million related to estimated employee health claims was included in other current liabilities, respectively. As of December 31, 2018 and 2017, an accrual of $1.6 million and $1.3 million related to estimated workers’ compensation claims was included in other current liabilities, respectively.

The Company has standby letters of credit outstanding related to the Company's workers’ compensation and employee health insurance policies. As of December 31, 2018 and 2017, the standby letters of credit totaled $1.1 million.

New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued a final standard on revenue from contracts with customers. This new standard introduces a comprehensive revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. In 2016, the FASB issued several amendments to the standard. The Company adopted this standard as of January 1, 2018 using the modified retrospective transition method. See Note 2, “Revenues,” for further details.

In November 2016, the FASB issued new guidance on restricted cash on the statement of cash flows. The new guidance requires the classification and presentation of changes in restricted cash and cash equivalents in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending balances shown in the statement of cash flows. The Company adopted the new standard as of March 31, 2018 using the retrospective transition method. The Company’s restricted cash balance was $0.8 million as of December 31, 2018. Upon adopting the new standard, the Company no longer presents the release of restricted cash as a financing cash inflow. Instead, restricted cash and long-term restricted cash balances are included in the beginning and ending cash, cash equivalents and restricted cash balances in the Consolidated Statement of Cash Flows. In connection with the adoption of this standard, $6.0 million received from restricted cash accounts during the fiscal year ended December 31, 2017 that was previously presented as a financing cash inflow was reclassified to cash, cash equivalents and restricted cash balances in the Consolidated Statement of Cash Flows. Additionally, the Company’s $6.7 million contribution to the NMTC fund, the $1.9 million received from restricted cash accounts, and the $1.3 million of closing costs incurred in connection with this transaction during the fiscal year ended December 31, 2016 that were previously presented financing cash flows were reclassified to cash, cash equivalents and restricted cash balances. Contributions made by U.S. Bank Community, LLC to new market tax credit fund totaling $3.2 million during the fiscal year ended December 31, 2016 that were previously not considered financing cash inflows as they related to restricted cash are now classified as financing cash inflows. See Note 12 for further discussion surrounding New Market Tax Credits.

Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued a standard that primarily requires organizations that lease assets to recognize the rights and obligations created by those leases on the Consolidated Balance Sheet. The accounting standards update also requires expanded disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. The Company will adopt the new standard effective January 1, 2019 using a modified retrospective approach through a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption.

The standard provides a number of optional practical expedients in transition. The Company will elect the package of three practical expedients permitted under the transition guidance within the new standard, which among other things, allows the Company to carryforward the historical lease classification. The Company will also elect to apply the hindsight practical expedient. The Company will not separate nonlease components from lease components by class of underlying assets where appropriate and the Company will not apply the recognition requirements of the standard to short-term leases, as allowed by the standard.

Upon adopting the new standard, the Company expects the most significant impact to the financial statements will be the recognition of right of use assets of approximately $142 million to $147 million and lease liabilities of $165 million to $170 million as of January 1, 2019. The Company will also adjust the useful life of certain leasehold improvements in the event the application of the hindsight practical expedient results in a change in the expected lease term. The Company expects that the change in the useful life assigned to certain leasehold improvements will result in a $14 million to $17 million reduction in fixed assets. The adoption of the new standard is not expected to have a material impact on net income or cash flows. The Company is in the process of finalizing its discount rate analysis.

In June 2016, the FASB issued a final standard on accounting for credit losses. The new standard is effective for the Company in fiscal 2020 and requires a change in credit loss calculations using the expected loss method. The Company is evaluating the effect of the new standard on its consolidated financial statements and related disclosures.

Revenues

12 Months Ended

Dec. 31, 2018

Revenues [Abstract]

Revenues

Note 2: Revenues

On January 1, 2018, the Company adopted Accounting Standards Update No. 2014-09 (Topic 606), “Revenue from Contracts with Customers,” using the modified retrospective method applied to those contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605. The adoption of Topic 606 had a cumulative impact adjustment to opening retained earnings of $0.1 million as of January 1, 2018 and did not have an impact on revenues recognized for the year ended December 31, 2018.

Revenue Recognition

The following table presents revenues disaggregated by product category:



	Years Ended December 31,
	2018		2017
Man-made tiles	46	%	43	%
Natural stone tiles	28		33
Setting and maintenance materials	14		11
Accessories	10		11
Delivery service	2		2
	100	%	100	%

The Company generates revenues by selling tile products, setting and maintenance materials, accessories, and delivery services to its customers through its store locations. The timing of revenue recognition coincides with the transfer of control of goods and services ordered by the customer, which falls into one of three categories described below:

Revenue recognized when an order is placed – If a customer places an order in a store and the contents of their order are available, the Company recognizes revenue concurrent with the exchange of goods for consideration from the customer.

Revenue recognized when an order is picked up – If a customer places an order for items held in a centralized distribution center, the Company requests a deposit from the customer at the time they place the order. Subsequently when the contents of the customer’s order are delivered to the store, the customer returns to the store and picks up the items that were ordered. The Company recognizes revenue on this transaction when the customer picks up their order.

Revenue recognized when an order is delivered – If a customer places an order in a store and requests delivery of their order, the Company prepares the contents of their order, initiates the delivery service, and recognizes revenue once the contents of the customer’s order are delivered.

The Company determines the transaction price of its contracts based on the pricing established at the time a customer places an order. The transaction price does not include sales tax as the Company is a pass-through conduit for collecting and remitting sales tax. Any discounts applied to an order are allocated proportionately to the base price of the goods and services ordered. Deposits made by customers are recorded in other accrued liabilities. Deferred revenues associated with customer deposits are recognized at the time the Company transfers control of the items ordered or renders the delivery service. In the event an order is partially fulfilled as of the end of a reporting period, revenue will be recognized based on the transaction price allocated to the goods delivered and services rendered. The customer deposit balance was $7.4 million and $8.1 million as of December 31, 2018 and 2017, respectively. Revenues recognized during the year ended December 31, 2018 included in the customer deposit balance as of the beginning of the period were $7.9 million.

The Company extends financing to qualified professional customers who apply for credit. The accounts receivable balance was $3.1 million and $2.4 million as of December 31, 2018 and 2017, respectively. Customers who qualify for an account receive 30-day payment terms. The Company expects that the customer will pay for the goods and services ordered within one year from the date the order is placed. Accordingly, the Company qualifies for the practical expedient outlined in ASC 606-10-32-18 and does not adjust the promised amount of consideration for the effects of the financing component.

Customers may return purchased items for an exchange or refund. The Company records a reserve for estimated product returns based on the historical returns trends and the current product sales performance. Historically, the sales returns reserve was presented net of cost of sales in other current liabilities. Upon adoption of Topic 606, the Company presents the sales returns reserve as an other current liability and the estimated value of the inventory that will be returned as an other current asset in the Consolidated Balance Sheet. The components of the sales returns reserve reflected in the Consolidated Balance Sheet as of December 31, 2018 and 2017 are as follows:



	(in thousands)
	December 31,		December 31,
	2018		2017(1)
Other current liabilities	$	5,154	$	3,139
Other current assets		1,498		-
Sales returns reserve, net	$	3,656	$	3,139

(1) As of December 31, 2017, the sales returns reserve of $3.1 million was presented net of the expected value of inventory to be returned of $0.9 million.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 3: Property Plant and Equipment:

Property, plant and equipment consisted of the following at December 31:



	2018		2017
	(in thousands)
Land	$	904	$	904
Building and building improvements		25,608		25,417
Leasehold improvements		88,454		84,677
Furniture and fixtures		140,612		129,876
Machinery and equipment		29,424		28,561
Computer equipment and software		33,947		29,851
Vehicles		4,125		3,463
Construction in progress		11,089		6,124
Total property, plant and equipment		334,163		308,873
Less accumulated depreciation		(175,807)		(157,468)
Total property, plant and equipment, net	$	158,356	$	151,405

Depreciation expense on property and equipment, including capital leases, was $28.4 million, $26.2 million and $23.0 million for the years ended December 31, 2018, 2017 and 2016, respectively. Property, plant and equipment is measured at fair value when an impairment is recognized and the related assets are written down to fair value. During the years ended December 31, 2018 and 2017, the Company recorded asset impairment charges of $0.7 million and $1.1 million, respectively. No impairment charges were recorded during the year ended December 31, 2016.

Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Accrued Liabilities [Abstract]

Accrued Liabilities

Note 4: Accrued Liabilities

Accrued liabilities consisted of the following at December 31:



	2018		2017
	(in thousands)
Customer deposits	$	7,383	$	8,064
Sales return reserve		5,154		3,139
Accrued wages and salaries		3,689		2,853
Payroll and sales taxes		2,929		2,491
Other current liabilities		5,329		5,866
Total accrued liabilities	$	24,484	$	22,413

Long-term Debt

12 Months Ended

Dec. 31, 2018

Long-term Debt [Abstract]

Long-term Debt

Note 5: Long-term Debt

Long-term debt, net of debt issuance costs, consisted of the following at December 31:



	2018				2017
			Unamortized				Unamortized
			Debt Issuance				Debt Issuance
	Principal		Costs		Principal		Costs
	(in thousands)
Term note payable (interest at 3.06% at December 31, 2017)	$	-	$	-	$	11,346	$	(36)
Commercial bank credit facility		53,000		-		15,000		-
Variable interest rate bonds (1.69% at December 31, 2017)		-		-		705		-
Total debt obligations		53,000		-		27,051		(36)
Less: current portion		-		-		8,855		(22)
Debt obligations, net of current portion	$	53,000	$	-	$	18,196	$	(14)

Approximate annual aggregate maturities of debts are as follows: (in thousands):



Fiscal year
2019	$	-
2020		-
2021		-
2022		-
2023		53,000
Thereafter		-
Total future maturities payments	$	53,000
Less: debt issuance costs		-
Total future maturities payments, net of debt issuance costs	$	53,000

On September 18, 2018, Holdings and its operating subsidiary, The Tile Shop, LLC, entered into a credit agreement with Bank of America, N.A., Fifth Third Bank and Citizens Bank (the “Credit Agreement”). The Credit Agreement provides the Company with a senior credit facility consisting of a $100.0 million revolving line of credit through September 18, 2023. Borrowings pursuant to the Credit Agreement initially bear interest at a rate of adjusted LIBOR plus 1.75% and may bear interest in a range between adjusted LIBOR plus 1.50% to adjusted LIBOR plus 2.25%, depending on The Tile Shop’s consolidated total rent adjusted leverage ratio. At December 31, 2018 the base interest rate was 6.25% and the LIBOR-based interest rate was 4.52%.

The Credit Agreement is secured by virtually all of the assets of the Company, including but not limited to, inventory, receivables, equipment and real property. The Credit Agreement contains customary events of default, conditions to borrowings, and restrictive covenants, including restrictions on the Company’s ability to dispose of assets, make acquisitions, incur additional debt, incur liens, or make investments. The Credit Agreement also includes financial and other covenants, including covenants to maintain certain fixed charge coverage ratios and consolidated total rent adjusted leverage ratios. The Company was in compliance with the covenants as of December 31, 2018.

The Credit Agreement supersedes and replaces in its entirety the Company’s prior senior secured credit facility with Fifth Third Bank dated June 2, 2015, as amended on April 5, 2018, July 17, 2017, February 10, 2017 and December 9, 2016. The Company drew on the revolving line of credit pursuant to the Credit Agreement to refinance the existing term loan, revolving line of credit and interest outstanding under the Company’s prior credit facility, as well as pay $0.4 million in debt issuance costs in connection with the Credit Agreement. Debt issuance costs are classified as other current assets and other assets on the consolidated balance sheet and amortized on a straight line basis over the life of the Credit Agreement. The Company recorded a $0.1 million charge in interest expense to write-off certain unamortized deferred financing fees associated with its prior credit facility as of the date of the payoff.

Borrowings outstanding consisted of $53.0 million on the revolving line of credit as of December 31, 2018. In addition, the Company has standby letters of credit outstanding related to its workers compensation and medical insurance policies. As of December 31, 2018 and 2017, the standby letters of credit totaled $1.1 million. There was $45.9 million available for borrowing on the revolving line of credit as of December 31, 2018, which may be used to support the Company’s growth and for working capital purposes.

Capital Leases:

The Company has one store lease that is accounted for as a capital lease. This lease expires in 2022. Assets acquired under capital leases are included in property, plant and equipment.

As of December 31, 2018, minimum lease payments under the Company's capital lease obligation were as follows (in thousands):



Fiscal year
2019	$	215
2020		216
2021		215
2022		90
2023		-
Thereafter		-
Less: amounts representing interest		(160)
Present value of future minimum lease payments		576
Less: current portion		140
Capital lease obligations, net of current portion	$	436

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 6: Commitments and Contingencies

Operating leases:

The Company leases buildings and office space under various operating lease agreements. In addition to rent, most leases require payments of real estate taxes, insurance, and common area maintenance. The leases generally have an initial lease term of ten to fifteen years and contain renewal options and escalation clauses. For leases that contain fixed escalation of the minimum rent or rent holidays, rent expense is recognized on a straight-line basis through the end of the lease term including assumed renewals. The difference between the straight-line rent amounts and amounts payable under the leases is recorded as deferred rent. For the years ended December 31, 2018, 2017 and 2016, rent expense was $35.4 million, $33.8 million, and $29.7 million, respectively.

Annual minimum rentals under non-cancelable operating leases are as follows, for the years ended December 31 (in thousands):



Fiscal year
2019	$	35,247
2020		35,647
2021		35,868
2022		36,182
2023		35,843
Thereafter		384,180
Total future maturities payments	$	562,967

Legal proceedings:

The Company was a nominal defendant in several actions brought derivatively on behalf of the Company by three shareholders. The plaintiffs alleged that the defendant-directors and/or officers breached their fiduciary duties by failing to adopt adequate internal controls for the Company, by approving false and misleading statements issued by the Company, by causing the Company to violate generally accepted accounting principles and SEC regulations, and by permitting the Company’s primary product to contain illegal amounts of lead. The complaints also alleged claims for insider trading and/or unjust enrichment. The Company moved to dismiss the actions, or in the alternative, to stay the actions. Before the motions were decided, the parties entered into settlement discussions. The parties entered into a Stipulation of Settlement dated April 11, 2018 to resolve all claims in the derivative actions. The settlement also resolved a demand letter dated May 19, 2016 that the Company’s Board of Directors had received from a shareholder about the same matters that were the subjects of the derivative actions. By Order and Final Judgment entered on August 23, 2018, the Delaware Court of Chancery approved the settlement of the derivative actions and dismissed them with prejudice. Under the terms of settlement, the Board of Directors adopted, and the Company implemented, certain changes to its policies and practices that address related person transactions, insider trading, compliance, and ethics. The Company also paid plaintiffs and their counsel $1.3 million for attorneys’ fees, expenses, and incentive awards that the Court awarded to them.

The Company is also, from time to time, subject to claims and disputes arising in the normal course of business. In the opinion of management, while the outcome of such claims and disputes cannot be predicted with certainty, the Company’s ultimate liability in connection with these matters is not expected to have a material adverse effect on the results of operations, financial position, or cash flows.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2018

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

Note 7: Fair Value of Financial Instruments:

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. To measure fair value, the Company uses a three-tier valuation hierarchy based upon observable and non-observable inputs:

Level 1 – Unadjusted quoted prices that are available in active markets for the identical assets or liabilities at the measurement date.

Level 2 – Significant other observable inputs available at the measurement date, other than quoted prices included in Level 1, either directly or indirectly, including:

Quoted prices for similar assets or liabilities in active markets;

Quoted prices for identical or similar assets or liabilities in non-active markets;

Inputs other than quoted prices that are observable for the asset or liability; and

Inputs that are derived principally from or corroborated by other observable market data.

Level 3 – Significant unobservable inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment.

The following table sets forth by level within the fair value hierarchy the Company’s financial assets that were accounted for at fair value on a recurring basis at December 31, 2018 and 2017 according to the valuation techniques the Company uses to determine their fair values. There have been no transfers of assets among the fair value hierarchies presented.



	Pricing	Fair Value at
	Category	December 31, 2018		December 31, 2017
Assets		(in thousands)
Cash and cash equivalents	Level 1	$	5,557	$	6,621
Restricted cash	Level 1		825		855

The following methods and assumptions were used to estimate the fair value of each class of financial instrument. There have been no changes in the valuation techniques used by the Company to value the Company’s financial instruments.

Cash and cash equivalents: Consists of cash on hand and bank deposits. The value was measured using quoted market prices in active markets. The carrying amount approximates fair value.

Restricted cash: Consists of cash and cash equivalents held in bank deposit accounts restricted as to withdrawal or are under the terms of use for current operations. The value was measured using quoted market prices in active markets. The carrying amount approximates fair value.

Fair value measurements also apply to certain non-financial assets and liabilities measured at fair value on a nonrecurring basis. Property, plant and equipment is measured at fair value when an impairment is recognized and the related assets are written down to fair value. During the years ended December 31, 2018 and 2017, the Company identified property, plant and equipment that would be disposed of prior to the end of their useful lives, which resulted in the recognition of a $0.7 million and $1.1 million charge to write-down these assets to their estimated fair value, respectively. The Company measured the fair value of these assets based on projected cash flows and an estimated risk-adjusted rate of return. Projected cash flows are considered level 3 inputs. No impairment charges were recorded during the year ended December 31, 2016.

The carrying value of the Company’s borrowings under its credit agreement approximate fair value based upon level 2 inputs of the market interest rates available to the Company for debt obligations with similar risks and maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 8: Related Party Transactions On July 9, 2018, Fumitake Nishi, a former Company employee and the brother-in-law of Robert A. Rucker, our former Interim Chief Executive Officer and President, and a member of the Company’s Board, informed the Company he had reacquired a majority of the equity of one of its key vendors, Nanyang Helin Stone Co. Ltd (“Nanyang”). Nanyang supplies the Company with natural stone products including hand-crafted mosaics, listellos and other accessories. During the years ended December 31, 2018, 2017 and 2016, the Company purchased $12.0 million, $12.8 million, and $8.4 million of products from Nanyang, respectively. As of December 31, 2018 and 2017, the accounts payable due to Nanyang was $1.2 million and $0.9 million, respectively. Mr. Nishi’s employment with the Company was terminated on January 1, 2014 as a result of several violations of the Company’s code of business conduct and ethics policy. Certain of those violations involved his undisclosed ownership of Nanyang at that time. Management and the Audit Committee have evaluated the relationship and determined that it would be in the Company’s best interests to continue purchasing products from Nanyang. The Company believes Nanyang provides an important combination of quality, product availability and pricing, and relying solely on other vendors to supply similar product to the Company would not be in the Company’s best interests. The Company and the Audit Committee has and will continue to review future purchases from Nanyang and compare the pricing for products purchased from Nanyang to the pricing of same or similar products purchased from unrelated vendors. The Company employed Adam Rucker, son of Robert A. Rucker, our former Interim Chief Executive Officer and President, and a member of our Board of Directors, as a Director of Information Technology through December 12, 2018. In fiscal years 2018, 2017 and 2016, the Company paid Adam Rucker a total of $112,000, $120,000 and $140,000, respectively. Adam Rucker also received the standard benefits provided to other Company employees during fiscal years 2018, 2017 and 2016.

Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Note 9: Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding, after taking into consideration all dilutive potential common shares outstanding during the period.

Basic and diluted net income per share was calculated as follows:



	2018		2017		2016
	(in thousands, except share and per share data)
Net income	$	10,442	$	10,819	$	18,463
Weighted-average shares outstanding - basic		51,907,619		51,700,045		51,418,600
Dilutive common stock equivalents		181,541		227,832		461,513
Weighted-average shares outstanding - diluted		52,089,160		51,927,877		51,880,113
Basic net income per share	$	0.20	$	0.21	$	0.36
Diluted net income per share	$	0.20	$	0.21	$	0.36
Antidilutive Shares		1,508,616		445,490		373,255

Equity Incentive Plans

12 Months Ended

Dec. 31, 2018

Equity Incentive Plans [Abstract]

Equity Incentive Plans

Note 10: Equity Incentive Plans

2012 Plan:

Under the 2012 Omnibus Award Plan, 5,000,000 shares of the Company’s common stock are reserved for issuance pursuant to a variety of stock based compensation awards, including stock options, and restricted stock awards.

Stock Options:

During the years ended December 31, 2018, 2017 and 2016, the Company granted stock options to its employees that included service condition requirements. The options provide for certain acceleration of vesting and cancellation of options under different circumstances, such as a change in control, death, disability and termination of service. The Company recognizes compensation expense on a straight-line basis over the requisite service period, net of actual forfeitures.

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model. The assumptions used in the option valuation models are outlined in the following table:



	2018			2017			2016
Risk-free interest rate	2.75%	–	3.08%	1.89%	–	2.12%	1.15%	–	1.52%
Expected life (in years)	5	–	6	5	–	6	5	–	7
Expected volatility	55%	–	57%	51%	–	55%	52%	–	53%
Dividend yield	2%	–	4%	1%	–	2%	0%	–	0%

The computation of the expected volatility assumptions used in the option valuation models was based on historical volatilities of the Company. The Company used the “simplified” method to calculate the expected term of options granted due to the lack of adequate historical data. The risk-free interest rate was based on the U.S. Treasury yield at the time of grant. The expected dividend yield for 2018 and 2017 was determined using the historical dividend payout and a trailing twelve month closing stock price on the grant date. The expected dividend yield was zero prior to December 31, 2016 based on the fact that, at that time, the Company had not previously paid dividends. To the extent that actual outcomes differ from the Company's assumptions, the Company is not required to true up grant-date fair value-based expense to final intrinsic values. The weighted average fair value of stock options granted was $3.10, $5.88, and $7.37 during the years ended December 31, 2018, 2017 and 2016, respectively.

Stock based compensation related to options for the years ended December 31, 2018, 2017 and 2016 was $1.0 million, $1.9 million, and $3.2 million, respectively, and was included in selling, general and administrative expenses in the consolidated statements of operations. As of December 31, 2018, the total future compensation cost related to non-vested options not yet recognized in the consolidated statement of operations was $2.0 million and is expected to be recognized over a weighted-average period of 2.4 years.

The following table summarizes stock option activity:



	Shares	Weighted Average Exercise Price		Weighted Avg Grant Date Fair Value		Weighted Avg Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Balance, January 1, 2016	2,624,945	$	13.07	$	6.30	6.5	$	12,757
Granted	443,500	$	15.43	$	7.37
Exercised	(95,786)	$	10.47	$	5.40
Cancelled/Forfeited	(612,118)	$	12.33	$	5.68
Balance, December 31, 2016	2,360,541	$	13.84	$	6.71	5.7	$	15,971
Granted	305,150	$	13.49	$	5.88
Exercised	(313,372)	$	10.07	$	5.44
Cancelled/Forfeited	(619,755)	$	13.04	$	6.29
Balance, December 31, 2017	1,732,564	$	14.74	$	6.95	4.5	$	365
Granted	176,380	$	7.19	$	3.10
Exercised	-	$	-	$	-
Cancelled/Forfeited	(520,865)	$	18.59	$	8.69
Balance, December 31, 2018	1,388,079	$	12.34	$	5.80	4.9	$	-
Exercisable at December 31, 2018	862,663	$	13.26	$	6.39	3.7
Vested and expected to vest, December 31, 2018	1,388,079	$	12.34	$	5.80	4.9	$	-

The aggregate intrinsic value is the difference between the exercise price and the closing price of the Company’s stock on December 31. No stock options were exercised during fiscal year 2018. The intrinsic value of the stock options exercised during fiscal year 2017 was $4.4 million.

Options outstanding as of December 31, 2018 are as follows:



Range of Exercise Price				Weighted Average
			Options	Exercise Price		Remaining Contractual Life-Years
$5.00	to	$10.00	687,400	$	8.79	6.12
$10.01	to	$15.00	380,304	$	12.20	2.81
$15.01	to	$20.00	212,875	$	17.86	4.76
$20.01	to	$25.00	74,500	$	22.44	5.62
$25.01	to	$30.00	33,000	$	29.44	4.56

Restricted Stock:

The Company awards restricted common shares to selected employees and non-employee directors. Recipients are not required to provide any consideration upon vesting of the award. Restricted share awards are subject to certain restrictions on transfer, and all or part of the shares awarded may be subject to forfeiture upon the occurrence of certain events, including employment termination. Certain awards are also subject to forfeiture if the Company fails to attain its Adjusted EBITDA targets. The restricted common shares are valued at the grant date fair value and expensed over the requisite service period or the vesting term of the awards. The Company adjusts the cumulative expense recognized on awards with performance conditions based on the probability of achieving the performance condition.

The following table summarizes restricted stock activity:



	Shares	Weighted Avg Grant Date Fair Value
Nonvested, January 1, 2016	79,036	$	17.67
Granted	73,384	$	17.60
Vested	(66,536)	$	15.55
Forfeited	-	$	-
Nonvested, December 31, 2016	85,884	$	19.25
Granted	324,184	$	13.55
Vested	(47,051)	$	19.93
Forfeited	(87,849)	$	17.71
Nonvested, December 31, 2017	275,168	$	13.03
Granted	682,646	$	6.61
Vested	(63,680)	$	15.88
Forfeited	(131,617)	$	8.70
Nonvested, December 31, 2018	762,517	$	7.80

The total expense associated with restricted stock for the years ended December 31, 2018, 2017, and 2016 was $1.7 million, $1.2 million, and $1.1 million, respectively. As of December 31, 2018, there was $4.8 million of total unrecognized expense related to unvested restricted stock awards, which are expected to vest, and will be expensed over a weighted-average period of 3.0 years. The fair value of restricted stock granted in fiscal years 2018 and 2017 was $4.5 million and $4.4 million, respectively. The total fair value of restricted stock that vested in fiscal years 2018 and 2017 was $1.2 million and $1.1 million, respectively. Using the closing stock price of $5.48 on December 31, 2018, the number of restricted shares outstanding and expected to vest was 758,317, with an intrinsic value of $4.2 million.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Income Taxes

Note 11: Income Taxes

The components of the provision for income taxes consist of the following:



	Years Ended December 31,
	2018		2017		2016
	(in thousands)
Current
Federal	$	734	$	2,721	$	10,831
State		638		872		2,560
International		23		30		30
Total Current		1,395		3,623		13,421
Deferred
Federal		2,839		9,354		(363)
State		844		363		(182)
International		80		-		-
Total Deferred		3,763		9,717		(545)
Total Provision for Income Taxes	$	5,158	$	13,340	$	12,876

A majority of the Company's income is from domestic operations.

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was enacted into law and the new legislation contains several key tax provisions that affected the Company, including, but not limited to, a reduction of the corporate income tax rate to 21% effective January 1, 2018 and a one-time mandatory transition tax on accumulated foreign earnings. The Company was required to recognize the effect of the tax law changes in the period of enactment, including determining the transition tax, re-measuring the Company’s U.S. deferred tax assets and liabilities and reassessing the net realizability of the Company’s deferred tax assets and liabilities. Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) allowed the Company to record provisional amounts during a measurement period not to extend beyond one year after the enactment date.

During 2018, the Company completed its evaluation of the income tax effects of the Tax Act. The Company recorded adjustments to its provisional estimates resulting in a $0.2 million reduction income tax expense concurrent with the filing of its 2017 federal and state income tax returns. The accounting for the income tax effects of the Tax Act is complete as of December 31, 2018.

The following table reflects the effective income tax rate reconciliation for the years ended December 31, 2018, 2017 and 2016:



	2018		2017		2016
Federal statutory rate	21.0	%	35.0	%	35.0	%
Tax reform	(1.1)		18.9		-
State income taxes, net of the federal tax benefit	5.7		4.1		4.4
Stock based compensation	7.6		(2.0)		1.6
Other	(0.1)		(0.8)		0.1
Effective tax rate	33.1	%	55.2	%	41.1	%

The Company’s effective tax rate for 2018 was 33.1%, compared to 55.2% in 2017, a decrease of 22.1%. The decrease in the effective tax rate is primarily attributable to the Tax Act, which reduced the U.S. federal statutory tax rate from 35% in 2017 to 21% in 2018. Income tax expense in the fourth quarter of 2017 also included a charge to reduce the value of the Company’s deferred tax assets in accordance with the Tax Act, which resulted in an 18.9% increase in the Company’s effective tax rate. Income tax expense in 2018 includes stock based compensation tax shortfall charges, which increased the Company’s effective tax rate by 7.6%.

The Company’s effective tax rate for 2017 was 55.2% in 2017, compared to 41.1% in 2016, an increase of 14.1%. The increase in the effective tax rate was primarily attributable to charges recorded to reduce the value of the Company’s deferred tax assets in accordance with the Tax Act, which resulted in an 18.9% increase in the Company’s effective tax rate.

Components of net deferred income taxes are as follows at December 31:



	2018		2017
	(in thousands)
Deferred income tax assets:
Section 743 carryforward	$	14,730	$	16,508
Leasehold improvement reimbursements		3,719		3,642
Inventory		1,635		1,229
Deferred rent		5,960		5,456
Stock based compensation		1,239		2,016
Other		1,724		1,404
Total deferred income tax assets	$	29,007	$	30,255

Deferred income tax liabilities
Depreciation		19,821		17,403
Other		1,961		1,198
Total deferred income tax liabilities		21,782		18,601
Net deferred income tax assets	$	7,225	$	11,654

The Company completed its analysis of the impacts of U.S. tax reform in the fourth quarter of fiscal year 2018. Accordingly, the Company has recognized the tax consequences of all foreign unremitted earnings and management has no specific plans to indefinitely reinvest the unremitted earnings of its foreign subsidiary as of December 31, 2018. As of December 31, 2018, the total undistributed earnings of the Company's non-U.S. subsidiary is approximately $0.8 million. The Company has provided deferred taxes of $0.1 million on withholding taxes, state taxes, and foreign currency gains and losses due on the repatriation of those earnings.

The Company records interest and penalties through income tax relating to uncertain tax positions. As of December 31, 2018, 2017 and 2016, the Company has not recognized any liabilities for uncertain tax positions nor has the Company accrued interest and penalties related to uncertain tax positions.

The Company's federal income tax returns for fiscal years 2015 through 2017 tax years are still subject to examination in the U.S. Various state and foreign jurisdiction tax years remain open to examination. The Company believes that any potential assessment would be immaterial to its financial statements.

New Market Tax Credit	12 Months Ended
New Market Tax Credit	Dec. 31, 2018
New Market Tax Credit [Abstract]
New Market Tax Credit	Note 12: New Market Tax Credit 2016 New Market Tax Credit In December 2016, the Company entered into a financing transaction with U.S. Bank Community, LLC (“U.S. Bank”) related to a $9.2 million expansion of the Company’s facility in Durant, Oklahoma. U.S. Bank made a capital contribution to, and Tile Shop Lending, Inc. (“Tile Shop Lending”) made a loan to, Twain Investment Fund 192 LLC (the “Investment Fund”) under a qualified New Markets Tax Credit (“NMTC”) program. The NMTC program was provided for in the Community Renewal Tax Relief Act of 2000 (the “Act”) and is intended to induce capital investment in qualified lower income communities. The Act permits taxpayers to claim credits against their federal income taxes for up to 39% of qualified investments in the equity of community development entities (“CDEs”). CDEs are privately managed investment institutions that are certified to make qualified low-income community investments. In this transaction, Tile Shop Lending loaned $6.7 million to the Investment Fund at an interest rate of 1.37% per year and with a maturity date of December 31, 2046. The Investment Fund then contributed the loan to a CDE, which, in turn, loaned the funds on similar terms to Tile Shop of Oklahoma, LLC, an indirect, wholly-owned subsidiary of Holdings. The proceeds of the loans from the CDEs (including loans representing the capital contribution made by U.S. Bank, net of syndication fees) were used to partially fund the distribution center project. In December 2016, U.S. Bank also contributed $3.2 million to the Investment Fund and, by virtue of such contribution, is entitled to substantially all of the tax benefits derived from the NMTC, while the Company effectively received net loan proceeds equal to U.S. Bank’s contributions to the Investment Fund. This transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase U.S. Bank’s interest. The Company believes that U.S. Bank will exercise the put option in December 2023 at the end of the recapture period. The value attributed to the put/call is de minimis. The NMTC is subject to 100% recapture for a period of seven years as provided in the Internal Revenue Code. The Company is required to be in compliance with various regulations and contractual provisions that apply to the NMTC arrangement. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, could require the Company to indemnify U.S. Bank for any loss or recapture of NMTCs related to the financing until such time as the obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with this arrangement. The Company has determined that the financing arrangement with the Investment Fund and CDEs contains a variable interest entity (“VIE”). The ongoing activities of the Investment Fund – collecting and remitting interest and fees and NMTC compliance – were all considered in the initial design and are not expected to significantly affect economic performance throughout the life of the Investment Fund. Management considered the contractual arrangements that obligate the Company to deliver tax benefits and provide various other guarantees to the structure; U.S. Bank’s lack of a material interest in the underling economics of the project; and the fact that the Company is obligated to absorb losses of the Investment Fund. The Company concluded that it is the primary beneficiary of the VIE and consolidated the Investment Fund, as a VIE, in accordance with the accounting standards for consolidation. In 2016, U.S. Bank’s contributions of $3.2 million, net of syndications fees, were included in cash, restricted cash, other accrued liabilities and other long-term liabilities in the consolidated balance sheet. The Company incurred $1.3 million of syndication fees in connection with this transaction, which were classified as other current assets and other non-current assets in the consolidated balance sheet. The Company is recognizing the benefit of this net $1.9 million contribution over the seven-year compliance period as it is being earned through the on-going compliance with the conditions of the NMTC program. As of December 31, 2018, the balance of the contribution liability was $2.3 million, of which $0.5 million was classified as other accrued liabilities on the consolidated balance sheet and $1.8 million was classified as other long-term liabilities on the consolidated balance sheet. The Company is able to request reimbursement for certain expenditures made in connection with the expansion of the distribution center in Durant, Oklahoma from the Investment Fund. Expenditures that qualify for reimbursement include building costs, equipment purchases, and other expenditures tied to the expansion of the facility. During the fiscal year ended December 31, 2017, the Company received reimbursements totaling $6.0 million from the investment fund. As of December 31, 2018, the balance in the Investment Fund available for reimbursement to the Company was $0.8 million. 2013 New Market Tax Credit In July 2013, the Company entered into a financing transaction with U.S. Bank and Chase Community Equity (“Chase”, and collectively with US. Bank, the “investors”) related to the $19.1 million acquisition, rehabilitation, and construction of the Company’s distribution center and manufacturing facilities in Durant, Oklahoma. In this transaction, Tile Shop Lending loaned $13.5 million to the Tile Shop Investment Fund LLC. The investors contributed $5.6 million to the Tile Shop Investment Fund LLC. The investors are entitled to the tax benefits derived from the NMTC by virtue of their contribution while the Company received the proceeds, net of syndication fees, to apply toward the construction project. This transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase the investors’ interest. The Company believes that the investors will exercise the put option in September 2020 at the end of the recapture period. The value attributed to the put/call is de minimis. The NMTC is subject to 100% recapture for a period of seven years as provided in the Internal Revenue Code. The Company is required to be in compliance with various regulations and contractual provisions that apply to the NMTC arrangement. Non-compliance with applicable requirements could result in projected tax benefits not being realized and, therefore, could require the Company to indemnify the investors for any loss or recapture of NMTCs related to the financing until such time as the obligation to deliver tax benefits is relieved. The Company does not anticipate any credit recaptures will be required in connection with this arrangement. The Company determined that this financing arrangement contains a VIE. The ongoing activities of the Tile Shop Investment Fund LLC – collecting and remitting interest and fees and NMTC compliance – were all considered in the initial design and are not expected to significantly affect economic performance throughout the life of the Tile Shop Investment Fund LLC. Management considered the contractual arrangements that obligate the Company to deliver tax benefits and provide various other guarantees to the structure; the investors lack of a material interest in the underling economics of the project; and the fact that the Company is obligated to absorb losses of The Tile Shop Investment Fund LLC. The Company concluded that it is the primary beneficiary of the VIE and consolidated the Tile Shop Investment Fund LLC, as a VIE, in accordance with the accounting standards for consolidation. In 2013, the investors’ contributions of $5.6 million, net of syndication fees, were included in cash, restricted cash, other accrued liabilities and other long-term liabilities in the consolidated balance sheet. The Company incurred $1.2 million of syndication fees in connection with this transaction which were classified as other current assets and other non-current assets in the consolidated balance sheet. The Company is recognizing the benefit of this net $4.4 million contribution over the seven-year compliance period as it is being earned through the on-going compliance with the conditions of the NMTC program. As of December 31, 2018, the balance of the contribution liability was $2.3 million, of which $0.5 million was classified as other accrued liabilities on the consolidated balance sheet and $1.8 million was classified as other long-term liabilities on the consolidated balance sheet.

Quarterly Financial Data

12 Months Ended

Dec. 31, 2018

Quarterly Financial Data [Abstract]

Quarterly Financial Data

Note 14: Quarterly Financial Data (Unaudited)

Quarterly results of operations for the years ended December 31, 2018 and 2017 are summarized below (in thousands, except per share amounts):



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in thousands)
2018
Net sales	$	91,134	$	92,914	$	89,259	$	83,947
Gross profit		64,038		65,312		63,011		58,978
Income from operations		6,111		7,442		3,880		705
Net income (loss)		4,011		4,958		2,553		(1,080)
Basic earnings (loss) per share		0.08		0.10		0.05		(0.02)
Diluted earnings (loss) per share		0.08		0.10		0.05		(0.02)

2017
Net sales	$	92,135	$	89,464	$	84,421	$	78,580
Gross profit		64,745		62,348		56,662		52,467
Income (loss) from operations		13,533		11,600		4,377		(3,664)
Net income (loss)		8,009		7,723		2,438		(7,351)
Basic earnings (loss) per share		0.16		0.15		0.05		(0.14)
Diluted earnings (loss) per share		0.15		0.15		0.05		(0.14)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Nature of Business

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash

Cash and cash equivalents that are restricted as to withdrawal or are under the terms of use for current operations are included in the restricted balance on the balance sheet.

Cost of Sales and Selling, General and Administrative Expenses

The primary costs classified in each major expense category are:

Cost of Sales

Materials cost;

Shipping and transportation expenses to bring products into the Company's distribution centers;

Custom and duty expenses;

Customer shipping and handling expenses;

Physical inventory losses;

Costs incurred at distribution centers in connection with the receiving process; and

Labor and overhead costs incurred to manufacture inventory

Selling, General & Administrative Expenses

All compensation costs for store, corporate and distribution employees;

Occupancy, utilities and maintenance costs of store and corporate facilities;

Shipping and transportation expenses to move inventory from the Company's distribution centers to the Company's stores;

Depreciation and amortization; and

Advertising costs

Stock Based Compensation

Concentration of Risk

Segments

Advertising Costs

Pre-opening Costs

Property, Plant and Equipment



	Asset life (in years)
Buildings and building improvements		40
Leasehold improvements	8	–	26
Furniture and fixtures	2	–	7
Machinery and equipment	5	–	10
Computer equipment and software	3	–	7
Vehicles		5

Internal Use Software

Leases

Self-Insurance

New Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Summary of Estimated Useful Lives of Property, Plant and Equipment



	Asset life (in years)
Buildings and building improvements		40
Leasehold improvements	8	–	26
Furniture and fixtures	2	–	7
Machinery and equipment	5	–	10
Computer equipment and software	3	–	7
Vehicles		5

Revenues (Tables)

12 Months Ended

Dec. 31, 2018

Revenues [Abstract]

Schedule of Revenues Disaggregated by Product Category



	Years Ended December 31,
	2018		2017
Man-made tiles	46	%	43	%
Natural stone tiles	28		33
Setting and maintenance materials	14		11
Accessories	10		11
Delivery service	2		2
	100	%	100	%

Schedule of Components of Returns Reserve



	(in thousands)
	December 31,		December 31,
	2018		2017(1)
Other current liabilities	$	5,154	$	3,139
Other current assets		1,498		-
Sales returns reserve, net	$	3,656	$	3,139

(1) As of December 31, 2017, the sales returns reserve of $3.1 million was presented net of the expected value of inventory to be returned of $0.9 million.

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment



	2018		2017
	(in thousands)
Land	$	904	$	904
Building and building improvements		25,608		25,417
Leasehold improvements		88,454		84,677
Furniture and fixtures		140,612		129,876
Machinery and equipment		29,424		28,561
Computer equipment and software		33,947		29,851
Vehicles		4,125		3,463
Construction in progress		11,089		6,124
Total property, plant and equipment		334,163		308,873
Less accumulated depreciation		(175,807)		(157,468)
Total property, plant and equipment, net	$	158,356	$	151,405

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities



	2018		2017
	(in thousands)
Customer deposits	$	7,383	$	8,064
Sales return reserve		5,154		3,139
Accrued wages and salaries		3,689		2,853
Payroll and sales taxes		2,929		2,491
Other current liabilities		5,329		5,866
Total accrued liabilities	$	24,484	$	22,413

Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Long-term Debt [Abstract]

Schedule of Long-Term Debt



	2018				2017
			Unamortized				Unamortized
			Debt Issuance				Debt Issuance
	Principal		Costs		Principal		Costs
	(in thousands)
Term note payable (interest at 3.06% at December 31, 2017)	$	-	$	-	$	11,346	$	(36)
Commercial bank credit facility		53,000		-		15,000		-
Variable interest rate bonds (1.69% at December 31, 2017)		-		-		705		-
Total debt obligations		53,000		-		27,051		(36)
Less: current portion		-		-		8,855		(22)
Debt obligations, net of current portion	$	53,000	$	-	$	18,196	$	(14)

Summary of Annual Aggregate Maturities of Debts, Net of Debt Issuance Costs



Fiscal year
2019	$	-
2020		-
2021		-
2022		-
2023		53,000
Thereafter		-
Total future maturities payments	$	53,000
Less: debt issuance costs		-
Total future maturities payments, net of debt issuance costs	$	53,000

Summary of Minimum Lease Payments Under Capital Lease Obligations



Fiscal year
2019	$	215
2020		216
2021		215
2022		90
2023		-
Thereafter		-
Less: amounts representing interest		(160)
Present value of future minimum lease payments		576
Less: current portion		140
Capital lease obligations, net of current portion	$	436

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies [Abstract]

Schedule of Annual Minimum Rentals Under Non-Cancelable Operating Leases



Fiscal year
2019	$	35,247
2020		35,647
2021		35,868
2022		36,182
2023		35,843
Thereafter		384,180
Total future maturities payments	$	562,967

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value of Financial Instruments [Abstract]

Summary of Fair Value of Financial Assets Measured on a Recurring Basis



	Pricing	Fair Value at
	Category	December 31, 2018		December 31, 2017
Assets		(in thousands)
Cash and cash equivalents	Level 1	$	5,557	$	6,621
Restricted cash	Level 1		825		855

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share



	2018		2017		2016
	(in thousands, except share and per share data)
Net income	$	10,442	$	10,819	$	18,463
Weighted-average shares outstanding - basic		51,907,619		51,700,045		51,418,600
Dilutive common stock equivalents		181,541		227,832		461,513
Weighted-average shares outstanding - diluted		52,089,160		51,927,877		51,880,113
Basic net income per share	$	0.20	$	0.21	$	0.36
Diluted net income per share	$	0.20	$	0.21	$	0.36
Antidilutive Shares		1,508,616		445,490		373,255

Equity Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2018

Equity Incentive Plans [Abstract]

Summary of Assumptions Used in Option Valuation



	2018			2017			2016
Risk-free interest rate	2.75%	–	3.08%	1.89%	–	2.12%	1.15%	–	1.52%
Expected life (in years)	5	–	6	5	–	6	5	–	7
Expected volatility	55%	–	57%	51%	–	55%	52%	–	53%
Dividend yield	2%	–	4%	1%	–	2%	0%	–	0%

Summary of Stock Option Activity



	Shares	Weighted Average Exercise Price		Weighted Avg Grant Date Fair Value		Weighted Avg Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Balance, January 1, 2016	2,624,945	$	13.07	$	6.30	6.5	$	12,757
Granted	443,500	$	15.43	$	7.37
Exercised	(95,786)	$	10.47	$	5.40
Cancelled/Forfeited	(612,118)	$	12.33	$	5.68
Balance, December 31, 2016	2,360,541	$	13.84	$	6.71	5.7	$	15,971
Granted	305,150	$	13.49	$	5.88
Exercised	(313,372)	$	10.07	$	5.44
Cancelled/Forfeited	(619,755)	$	13.04	$	6.29
Balance, December 31, 2017	1,732,564	$	14.74	$	6.95	4.5	$	365
Granted	176,380	$	7.19	$	3.10
Exercised	-	$	-	$	-
Cancelled/Forfeited	(520,865)	$	18.59	$	8.69
Balance, December 31, 2018	1,388,079	$	12.34	$	5.80	4.9	$	-
Exercisable at December 31, 2018	862,663	$	13.26	$	6.39	3.7
Vested and expected to vest, December 31, 2018	1,388,079	$	12.34	$	5.80	4.9	$	-

Summary of Stock Options Outstanding



Range of Exercise Price				Weighted Average
			Options	Exercise Price		Remaining Contractual Life-Years
$5.00	to	$10.00	687,400	$	8.79	6.12
$10.01	to	$15.00	380,304	$	12.20	2.81
$15.01	to	$20.00	212,875	$	17.86	4.76
$20.01	to	$25.00	74,500	$	22.44	5.62
$25.01	to	$30.00	33,000	$	29.44	4.56

Summary of Restricted Stock Activity



	Shares	Weighted Avg Grant Date Fair Value
Nonvested, January 1, 2016	79,036	$	17.67
Granted	73,384	$	17.60
Vested	(66,536)	$	15.55
Forfeited	-	$	-
Nonvested, December 31, 2016	85,884	$	19.25
Granted	324,184	$	13.55
Vested	(47,051)	$	19.93
Forfeited	(87,849)	$	17.71
Nonvested, December 31, 2017	275,168	$	13.03
Granted	682,646	$	6.61
Vested	(63,680)	$	15.88
Forfeited	(131,617)	$	8.70
Nonvested, December 31, 2018	762,517	$	7.80

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule of Components of Provision for Income Taxes



	Years Ended December 31,
	2018		2017		2016
	(in thousands)
Current
Federal	$	734	$	2,721	$	10,831
State		638		872		2,560
International		23		30		30
Total Current		1,395		3,623		13,421
Deferred
Federal		2,839		9,354		(363)
State		844		363		(182)
International		80		-		-
Total Deferred		3,763		9,717		(545)
Total Provision for Income Taxes	$	5,158	$	13,340	$	12,876

Schedule of Effective Income Tax Rate Reconciliation



	2018		2017		2016
Federal statutory rate	21.0	%	35.0	%	35.0	%
Tax reform	(1.1)		18.9		-
State income taxes, net of the federal tax benefit	5.7		4.1		4.4
Stock based compensation	7.6		(2.0)		1.6
Other	(0.1)		(0.8)		0.1
Effective tax rate	33.1	%	55.2	%	41.1	%

Schedule of Components of Net Deferred Income Taxes



	2018		2017
	(in thousands)
Deferred income tax assets:
Section 743 carryforward	$	14,730	$	16,508
Leasehold improvement reimbursements		3,719		3,642
Inventory		1,635		1,229
Deferred rent		5,960		5,456
Stock based compensation		1,239		2,016
Other		1,724		1,404
Total deferred income tax assets	$	29,007	$	30,255

Deferred income tax liabilities
Depreciation		19,821		17,403
Other		1,961		1,198
Total deferred income tax liabilities		21,782		18,601
Net deferred income tax assets	$	7,225	$	11,654

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Data [Abstract]

Schedule of Quarterly Results of Operations



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in thousands)
2018
Net sales	$	91,134	$	92,914	$	89,259	$	83,947
Gross profit		64,038		65,312		63,011		58,978
Income from operations		6,111		7,442		3,880		705
Net income (loss)		4,011		4,958		2,553		(1,080)
Basic earnings (loss) per share		0.08		0.10		0.05		(0.02)
Diluted earnings (loss) per share		0.08		0.10		0.05		(0.02)

2017
Net sales	$	92,135	$	89,464	$	84,421	$	78,580
Gross profit		64,745		62,348		56,662		52,467
Income (loss) from operations		13,533		11,600		4,377		(3,664)
Net income (loss)		8,009		7,723		2,438		(7,351)
Basic earnings (loss) per share		0.16		0.15		0.05		(0.14)
Diluted earnings (loss) per share		0.15		0.15		0.05		(0.14)

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018 USD ($) ft² state store	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of stores \| store	140
Number of states in which entity operates \| state	31
Cash and cash equivalents	$ 5,557,000	$ 6,621,000	$ 6,067,000
Due from banks	800,000	3,100,000
Allowance for doubtful accounts	100,000	100,000
Inventory, provision for shrinkage and other	300,000	200,000
Liability for uncertain tax positions	0	0
Income tax interest and penalties related to uncertain tax positions	0	0	0
Advertising costs	8,300,000	9,500,000	6,900,000
Pre-opening costs	100,000	1,700,000	500,000
Asset impairment charges	652,000	1,072,000	0
Capitalized software	3,200,000	200,000
Construction in progress	6,600,000
Capitalized software, depreciation expense	300,000	200,000	500,000
Self-insurance liability, current	600,000	300,000
Workers' compensation liability, current	1,600,000	1,300,000
Restricted cash	825,000	855,000	3,000,000
Cash, cash equivalents and restricted cash	6,382,000	7,476,000	12,948,000	$ 10,549,000
Contributions to NMTC fund			3,174,000
Previously Reported [Member] \| Accounting Standards Update 2016-18 [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash			3,200,000
Proceeds from restricted cash, financing activities		6,000,000
Contributions to NMTC fund			6,700,000
Release of restricted cash			1,900,000
Closing costs incurred			$ 1,300,000
Workers' Compensation Standby Letters Of Credit [Member]
Summary Of Significant Accounting Policies [Line Items]
Line of credit outstanding	$ 1,100,000	$ 1,100,000
Average [Member]
Summary Of Significant Accounting Policies [Line Items]
Area of stores \| ft²	20,200
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Capitalized software, estimated useful life	3 years
Minimum [Member] \| Restatement Adjustment [Member] \| Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use asset	$ 142,000,000
Lease liability	165,000,000
Leasehold improvements	$ 14,000,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Capitalized software, estimated useful life	7 years
Maximum [Member] \| Restatement Adjustment [Member] \| Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use asset	$ 147,000,000
Lease liability	170,000,000
Leasehold improvements	$ 17,000,000

Summary of Significant Accounting Policies (Summary of Estimated Useful Lives of Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2018
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	40 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	5 years
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	8 years
Minimum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	2 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	5 years
Minimum [Member] \| Computer Equipment And Software [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	3 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	26 years
Maximum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	7 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	10 years
Maximum [Member] \| Computer Equipment And Software [Member]
Property, Plant and Equipment [Line Items]
Asset life (in years)	7 years

Revenues (Narrative) (Details) - USD ($)	12 Months Ended
Revenues (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer Disclosure [Line Items]
Cumulative impact adjustment to retained earnings	$ (25,857,000)	$ (36,239,000)
Customer deposits	7,383,000	8,064,000
Customer deposit balance, revenues recognized	7,900,000
Accounts receivable	3,084,000	2,381,000
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] \| Accounting Standards Update 2014-09 [Member]
Revenue from Contract with Customer Disclosure [Line Items]
Cumulative impact adjustment to retained earnings	$ 0	$ 100,000

Revenues (Schedule of Revenues Disaggregated by Product Category) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenue	100.00%	100.00%
Man-Made Tiles [Member]
Disaggregation of Revenue [Line Items]
Total revenue	46.00%	43.00%
Natural Stone Tiles [Member]
Disaggregation of Revenue [Line Items]
Total revenue	28.00%	33.00%
Setting And Maitenance Materials [Member]
Disaggregation of Revenue [Line Items]
Total revenue	14.00%	11.00%
Accessories [Member]
Disaggregation of Revenue [Line Items]
Total revenue	10.00%	11.00%
Delivery Service [Member]
Disaggregation of Revenue [Line Items]
Total revenue	2.00%	2.00%

Revenues (Schedule of Components of Returns Reserve) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Revenues [Abstract]
Other current liabilities	$ 5,154	$ 3,139
Other current assets	1,498
Sales returns reserve, net	$ 3,656	3,139
Inventory to be returned		$ 900

Property, Plant and Equipment (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation expense on property and equipment	$ 28,396,000	$ 26,239,000	$ 23,042,000
Asset impairment charges	$ 652,000	$ 1,072,000	$ 0

Property, Plant and Equipment (Summary of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 334,163	$ 308,873
Less accumulated depreciation	(175,807)	(157,468)
Total property, plant and equipment, net	158,356	151,405
Land [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	904	904
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	25,608	25,417
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	88,454	84,677
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	140,612	129,876
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	29,424	28,561
Computer Equipment And Software [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	33,947	29,851
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	4,125	3,463
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 11,089	$ 6,124

Accrued Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accrued Liabilities [Abstract]
Customer deposits	$ 7,383	$ 8,064
Sales return reserve	5,154	3,139
Accrued wages and salaries	3,689	2,853
Payroll and sales taxes	2,929	2,491
Other current liabilities	5,329	5,866
Total accrued liabilities	$ 24,484	$ 22,413

Long-term Debt (Narrative) (Details)	12 Months Ended
Long-term Debt (Narrative) (Details)	Dec. 31, 2018 USD ($) store	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Debt issuance cost writeoff	$ 100,000
Number of capital leases \| store	1
Commercial Bank Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit outstanding	$ 53,000,000
Credit facility, available borrowing capacity	45,900,000
Standby Letters of Credit [Member] \| Commercial Bank Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit outstanding	1,100,000	$ 1,100,000
Credit Agreement [Member] \| Commercial Bank Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 100,000,000
Credit facility, expiration date	Sep. 18, 2023
Credit facility effective interest rate	6.25%
Credit Agreement [Member] \| Commercial Bank Credit Facility [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Credit facility, spread on variable interest rate	1.75%
Credit facility effective interest rate	4.52%
Credit Agreement [Member] \| Commercial Bank Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Credit facility, spread on variable interest rate	1.50%
Credit Agreement [Member] \| Commercial Bank Credit Facility [Member] \| Maximum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Credit facility, spread on variable interest rate	2.25%

Long-term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt obligations	$ 53,000	$ 27,051
Unamortized Debt Issuance Costs, Total debt obligations		(36)
Principal, Less: current portion		8,855
Unamortized Debt Issuance Costs, Less: current portion		(22)
Principal, Debt obligations, net of current portion	53,000	18,196
Unamortized Debt Issuance Costs, Debt obligations, net of current portion		(14)
Term Note Pyable [Member]
Debt Instrument [Line Items]
Debt obligations		11,346
Unamortized Debt Issuance Costs, Total debt obligations		$ (36)
Effective interest rate		3.06%
Commercial Bank Credit Facility [Member]
Debt Instrument [Line Items]
Debt obligations	$ 53,000	$ 15,000
Variable Interest Rate Bonds [Member]
Debt Instrument [Line Items]
Debt obligations		$ 705
Effective interest rate		1.69%

Long-term Debt (Summary of Annual Aggregate Maturities of Debts, Net of Debt Issuance Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt [Abstract]
2019
2020
2021
2022
2023	53,000
Thereafter
Debt obligations	53,000	$ 27,051
Less: debt issuance costs		$ 36
Total future maturities payments, net of debt issuance costs	$ 53,000

Long-Term Debt (Summary of Minimum Lease Payments Under Capital Lease Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt [Abstract]
2019	$ 215
2020	216
2021	215
2022	90
Less: amounts representing interest	(160)
Present value of future minimum lease payments	576
Less: current portion	140
Capital lease obligations, net of current portion	$ 436	$ 576

Commitments and Contingencies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) plaintiff	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Rent expense	$ 35.4	$ 33.8	$ 29.7
Tile Shop Holdings, Inc. Stockholder Derivative Litigation [Member]
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff	3
Settlement amount	$ 1.3

Commitments and Contingencies (Schedule of Annual Minimum Rentals Under Non-Cancelable Operating Leases) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies [Abstract]
2019	$ 35,247
2020	35,647
2021	35,868
2022	36,182
2023	35,843
Thereafter	384,180
Total future maturities payments	$ 562,967

Fair Value of Financial Instruments (Summary of Fair Value of Financial Assets Measured on a Recurring Basis) (Details) - Level 1 [Member] - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 5,557	$ 6,621
Restricted cash	$ 825	$ 855

Related Party Transactions (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Nanyang Helin Stone Company [Member]
Related Party Transaction [Line Items]
Payments for purchases from related party	$ 12,000,000	$ 12,800,000	$ 8,400,000
Accounts payable, related party	1,200,000	900,000
Base Salary [Member] \| Director Of Information Technology [Member]
Related Party Transaction [Line Items]
Amount of related party transaction	$ 112,000	$ 120,000	$ 140,000

Earnings Per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income	$ (1,080)	$ 2,553	$ 4,958	$ 4,011	$ (7,351)	$ 2,438	$ 7,723	$ 8,009	$ 10,442	$ 10,819	$ 18,463
Weighted-average shares outstanding - basic									51,907,619	51,700,045	51,418,600
Dilutive common stock equivalents									181,541	227,832	461,513
Weighted-average shares outstanding - diluted									52,089,160	51,927,877	51,880,113
Basic net income per share	$ (0.02)	$ 0.05	$ 0.10	$ 0.08	$ (0.14)	$ 0.05	$ 0.15	$ 0.16	$ 0.20	$ 0.21	$ 0.36
Diluted net income per share	$ (0.02)	$ 0.05	$ 0.10	$ 0.08	$ (0.14)	$ 0.05	$ 0.15	$ 0.15	$ 0.20	$ 0.21	$ 0.36
Antidilutive Shares									1,508,616	445,490	373,255

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Equity Incentive Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	5,000,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted	$ 3.10	$ 5.88	$ 7.37
Stock-based compensation expense	$ 1.0	$ 1.9	$ 3.2
Compensation cost not yet recognized	$ 2.0
Compensation cost not yet recognized, weighted average period for recognition	2 years 4 months 24 days
Stock option exercises (in shares)	0	313,372	95,786
Intrinsic value of options exercised		$ 4.4
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1.7	1.2	$ 1.1
Compensation cost not yet recognized	$ 4.8
Compensation cost not yet recognized, weighted average period for recognition	3 years
Total fair value of shares vested	$ 1.2	1.1
Fair value of restricted stock granted	$ 4.5	$ 4.4
Share price	$ 5.48
Restricted stock outstanding	758,317
Intrinsic value of outstanding shares expected to vest	$ 4.2

Equity Incentive Plans (Summary of Assumptions Used in Option Valuation) (Details) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.75%	1.89%	1.15%
Expected life (in years)	5 years	5 years	5 years
Expected volatility	55.00%	51.00%	52.00%
Dividend yield	2.00%	1.00%	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3.08%	2.12%	1.52%
Expected life (in years)	6 years	6 years	7 years
Expected volatility	57.00%	55.00%	53.00%
Dividend yield	4.00%	2.00%	0.00%

Equity Incentive Plans (Summary of Stock Option Activity) (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Beginning Balance	1,732,564	2,360,541	2,624,945
Shares, Granted	176,380	305,150	443,500
Shares, Exercised	0	(313,372)	(95,786)
Shares, Cancelled/Forfeited	(520,865)	(619,755)	(612,118)
Shares, Ending Balance	1,388,079	1,732,564	2,360,541	2,624,945
Shares, Exercisable	862,663
Shares, Vested and expected to vest	1,388,079
Weighted Average Exercise Price, Beginning Balance	$ 14.74	$ 13.84	$ 13.07
Weighted Average Exercise Price, Granted	7.19	13.49	15.43
Weighted Average Exercise Price, Exercised		10.07	10.47
Weighted Average Exercise Price, Cancelled/Forfeited	18.59	13.04	12.33
Weighted Average Exercise Price, Ending Balance	12.34	14.74	13.84	$ 13.07
Weighted Average Exercise Price, Exercisable	13.26
Weighted Average Exercise Price, Vested and expected to vest	12.34
Weighted Avg Grant Date Fair Value, Beginning Balance	6.95	6.71	6.30
Weighted Avg Grant Date Fair Value, Granted	3.10	5.88	7.37
Weighted Avg Grant Date Fair Value, Exercised		5.44	5.40
Weighted Avg Grant Date Fair Value, Cancelled/Forfeited	8.69	6.29	5.68
Weighted Avg Grant Date Fair Value, Ending Balance	$ 5.80	$ 6.95	$ 6.71	$ 6.30
Weighted Avg Grant Date Fair Value, Exercisable	6.39
Weighted Avg Grant Date Fair Value, Vested and expected to vest	$ 5.80
Weighted Avg Remaining Contractual Term (Years), Options Outstanding	4 years 10 months 24 days	4 years 6 months	5 years 8 months 12 days	6 years 6 months
Weighted Avg Remaining Contractual Term (Years), Exercisable	3 years 8 months 12 days
Weighted Avg Remaining Contractual Term (Years), Vested and expected to vest	4 years 10 months 24 days
Aggregate Intrinsic Value, Share Outstanding		$ 365	$ 15,971	$ 12,757

Equity Incentive Plans (Summary of Stock Options Outstanding) (Details) - Stock Options [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options	1,388,079	1,732,564	2,360,541	2,624,945
Exercise Price	$ 12.34	$ 14.74	$ 13.84	$ 13.07
Remaining Contractual Life-Years	4 years 10 months 24 days	4 years 6 months	5 years 8 months 12 days	6 years 6 months
$5.00 to $10.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Limit	$ 5.00
Range of Exercise Price, Upper Limit	$ 10.00
Options	687,400
Exercise Price	$ 8.79
Remaining Contractual Life-Years	6 years 1 month 13 days
$10.01 to $15.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Limit	$ 10.01
Range of Exercise Price, Upper Limit	$ 15.00
Options	380,304
Exercise Price	$ 12.20
Remaining Contractual Life-Years	2 years 9 months 22 days
$15.01 to $20.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Limit	$ 15.01
Range of Exercise Price, Upper Limit	$ 20.00
Options	212,875
Exercise Price	$ 17.86
Remaining Contractual Life-Years	4 years 9 months 4 days
$20.01 to $25.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Limit	$ 20.01
Range of Exercise Price, Upper Limit	$ 25.00
Options	74,500
Exercise Price	$ 22.44
Remaining Contractual Life-Years	5 years 7 months 13 days
$25.01 to $30.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, Lower Limit	$ 25.01
Range of Exercise Price, Upper Limit	$ 30.00
Options	33,000
Exercise Price	$ 29.44
Remaining Contractual Life-Years	4 years 6 months 22 days

Equity Incentive Plans (Summary of Restricted Stock Activity) (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested, Beginning Balance	275,168	85,884	79,036
Shares, Granted	682,646	324,184	73,384
Shares, Vested	(63,680)	(47,051)	(66,536)
Shares, Forfeited	(131,617)	(87,849)
Shares, Nonvested, Ending Balance	762,517	275,168	85,884
Weighted Avg Grant Date Fair Value, Nonvested, Beginning Balance	$ 13.03	$ 19.25	$ 17.67
Weighted Avg Grant Date Fair Value, Granted	6.61	13.55	17.60
Weighted Avg Grant Date Fair Value, Vested	15.88	19.93	15.55
Weighted Avg Grant Date Fair Value, Forfeited	8.70	17.71
Weighted Avg Grant Date Fair Value, Nonvested, Ending Balance	$ 7.80	$ 13.03	$ 19.25

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Abstract]
Federal statutory rate	21.00%	35.00%	35.00%
Provisional income tax benefit	$ 200,000
Effective income tax rate	33.10%	55.20%	41.10%
Change in effective tax rate	(22.10%)	14.10%
Effect of Tax Act	(1.10%)	18.90%
Stock based compensation	7.60%	(2.00%)	1.60%
Undistributed earnings of non-US subsidiary	$ 800,000
Deferred taxes on undistributed earnings	100,000
Liability for uncertain tax positions	0	$ 0
Income tax interest and penalties related to uncertain tax positions	$ 0	$ 0	$ 0

Income Taxes (Schedule of Components of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Abstract]
Current, Federal	$ 734	$ 2,721	$ 10,831
Current, State	638	872	2,560
Current, International	23	30	30
Total Current	1,395	3,623	13,421
Deferred, Federal	2,839	9,354	(363)
Deferred, State	844	363	(182)
Deferred, International	80
Total Deferred	3,763	9,717	(545)
Total Provision for Income Taxes	$ 5,158	$ 13,340	$ 12,876

Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Abstract]
Federal statutory rate	21.00%	35.00%	35.00%
Tax reform	(1.10%)	18.90%
State income taxes, net of the federal tax benefit	5.70%	4.10%	4.40%
Stock based compensation	7.60%	(2.00%)	1.60%
Other	(0.10%)	(0.80%)	0.10%
Effective tax rate	33.10%	55.20%	41.10%

Income Taxes (Schedule of Components of Net Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Abstract]
Section 743 carryforward	$ 14,730	$ 16,508
Leasehold improvement reimbursements	3,719	3,642
Inventory	1,635	1,229
Deferred rent	5,960	5,456
Stock based compensation	1,239	2,016
Other	1,724	1,404
Total deferred income tax assets	29,007	30,255
Depreciation	19,821	17,403
Other	1,961	1,198
Total deferred income tax liabilities	21,782	18,601
Net deferred income tax assets	$ 7,225	$ 11,654

New Market Tax Credit (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2016	Jul. 31, 2013	Dec. 31, 2018	Dec. 31, 2017
New Market Tax Credit Disclosure [Line Items]
Reimbursements received				$ 6.0
Restricted cash, reimbursement funds			$ 0.8
Chase and US Bank [Member]
New Market Tax Credit Disclosure [Line Items]
Contribution to affiliate		$ 5.6
Twain Investment Fund 192 [Member]
New Market Tax Credit Disclosure [Line Items]
Net proceeds from contribution	$ 1.9
Contribution liability compliance period			7 years
Contribution liability			$ 2.3
Contribution liability, current			0.5
Contribution liability, noncurrent			$ 1.8
Twain Investment Fund 192 [Member] \| Tile Shop Holdings [Member]
New Market Tax Credit Disclosure [Line Items]
Syndicate costs	1.3
Twain Investment Fund 192 [Member] \| Tile Shop Lending [Member]
New Market Tax Credit Disclosure [Line Items]
Loan amount	$ 6.7
Loan interest rate	1.37%
Loan maturity date			Dec. 31, 2046
Tile Shop Investment Fund [Member]
New Market Tax Credit Disclosure [Line Items]
Contribution to affiliate		4.4
Contribution liability compliance period			7 years
Contribution liability			$ 2.3
Contribution liability, current			0.5
Contribution liability, noncurrent			$ 1.8
Tile Shop Investment Fund [Member] \| Tile Shop Holdings [Member]
New Market Tax Credit Disclosure [Line Items]
Syndicate costs		1.2
Tile Shop Investment Fund [Member] \| Tile Shop Lending [Member]
New Market Tax Credit Disclosure [Line Items]
Loan amount		13.5
U.S. Bank Community [Member] \| Twain Investment Fund 192 [Member]
New Market Tax Credit Disclosure [Line Items]
Contribution to affiliate	$ 3.2
U.S. Bank Community [Member] \| Oklahoma [Member]
New Market Tax Credit Disclosure [Line Items]
Financing agreement project cost	$ 9.2
Chase and US Bank [Member] \| Oklahoma [Member]
New Market Tax Credit Disclosure [Line Items]
Financing agreement project cost		$ 19.1

Retirement Savings Plan (Narrative) (Details) - USD ($)	12 Months Ended
Retirement Savings Plan (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Retirement Savings Plan [Abstract]
Matching contribution amount	$ 1,600,000	$ 1,400,000	$ 500,000
Discretionary contribution amount	$ 0	$ 0	$ 0

Quarterly Financial Data (Schedule of Quarterly Results of Operations) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Net sales	$ 83,947	$ 89,259	$ 92,914	$ 91,134	$ 78,580	$ 84,421	$ 89,464	$ 92,135	$ 357,254	$ 344,600	$ 324,157
Gross profit	58,978	63,011	65,312	64,038	52,467	56,662	62,348	64,745	251,339	236,222	226,896
Income (loss) from operations	705	3,880	7,442	6,111	(3,664)	4,377	11,600	13,533	18,138	25,846	32,913
Net income (loss)	$ (1,080)	$ 2,553	$ 4,958	$ 4,011	$ (7,351)	$ 2,438	$ 7,723	$ 8,009	$ 10,442	$ 10,819	$ 18,463
Basic earnings (loss) per share	$ (0.02)	$ 0.05	$ 0.10	$ 0.08	$ (0.14)	$ 0.05	$ 0.15	$ 0.16	$ 0.20	$ 0.21	$ 0.36
Diluted earnings (loss) per share	$ (0.02)	$ 0.05	$ 0.10	$ 0.08	$ (0.14)	$ 0.05	$ 0.15	$ 0.15	$ 0.20	$ 0.21	$ 0.36

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Event (Narrative) (Details) - Subsequent Event [Member]	Feb. 19, 2019 $ / shares
Subsequent Event [Line Items]
Dividends payable, date declared	Feb. 19, 2019
Dividends payable, amount per share	$ 0.05
Dividends payable, date of record	Mar. 04, 2019
Dividends payable, date to be paid	Mar. 15, 2019

Label	Element	Value
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 3,881,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(60,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (60,000)

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2018
Subsequent Event [Abstract]
Subsequent Event	Note 15: Subsequent Event On February 19, 2019, the Company declared a $0.05 dividend to stockholders of record as of the close of business on March 4, 2019. The dividend will be paid on March 15, 2019.

Retirement Savings Plan	12 Months Ended
Retirement Savings Plan	Dec. 31, 2018
Retirement Savings Plan [Abstract]
Retirement Savings Plan	Note 13: Retirement Savings Plan The Company has a 401(k) profit sharing plan covering substantially all full-time employees. Employee contributions are limited to the maximum amount allowable by the Internal Revenue Code. The Company matched $1.6 million, $1.4 million, and $0.5 million of employee contributions in 2018, 2017, and 2016 and made no discretionary contributions for any of the years presented.