Tuesday Morning profits fall, home furnishings sag

Dallas – Tuesday Morning bumped up overall revenues in the third quarter, but continued to lose ground on comp sales and profitability – and the home department remains part of the problem.

"The home furnishings sector continues to be challenging and we are remaining flexible in our decisions and intently focused on the things we can control," said Kathleen Mason, president and ceo.

The 722-store closeout chain reported sales for the third quarter increased 1.1% to $194.4 million. For the 9 months year-to-date, revenues slid 1.1% to $589.8 million. Comparable store sales fell 4.6% for the quarter and dropped 6.9% year-to-date.

Net income for the quarter was $3.2 million, down 61% from $8.2 a year ago. Year-to-date income was $12.6 million, down 50%.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!