Tuesday Morning Fiscal Year Sales Off 9%
July 20, 2009,
Tuesday Morning today said earlier this month that sales for its recently concluded fiscal year fell 9.4% to $801.7 million, with both traffic and average transaction down.
For the fourth quarter, sales fell 4.0% to $188.7 million. Comps decreased 6.6%, with a 0.1% increase in traffic and a 6.7% drop in transaction.
Tuesday Morning will report full results Aug. 25. The company said it expects diluted loss per share for the fourth quarter in the range of 3 cents to 5 cents compared to a loss per share of 6 cents in last year's fourth quarter.
For the fiscal year, the company expects earnings per share to be in the range of 1 cent to a loss of 1 cent.
"We continue to see improvement in customer traffic and our sales remain in line with our projections in light of the uncertainty surrounding current economic conditions," said Kathleen Mason, president and ceo. "We will remain persistent in managing inventory levels and controlling operating costs."