Tuesday Morning Fiscal Year Sales Off 9%

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 fiscal year ended June 30, the 857-unit closeouter saw comp store sales tumble 12.5%. Traffic fell 6.4% and ticket declined 6.1%.

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."

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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