Shares of Tile Shop Holdings, Inc. (NASDAQ: TTS) were down more than 27.5% at 11:30 a.m. EST today after the release of the specialty retailer's fourth-quarter and full-year financial and operating results before market open. The short version is that investors were stunned when the company reported a $7.4 million GAAP loss in the fourth quarter.Even when adjusting for the one-time negative impact of the recently passed federal tax legislation and other nonrecurring expenses related to resolved litigation, Tile Shop reported an adjusted loss of $0.05 per share. This was far short of investors' expectations, which were for Tile Shop to report an adjusted profit of $0.05 per share. Image source: Getty Images.Continue reading