Tuesday Morning Sales Slip in First Quarter
Home & Textiles Today Staff -- Home Textiles Today, November 25, 2011
DALLAS - Closeout home furnishings chain Tuesday Morning Corp. reported declines in sales and comps for its recently ended first quarter.
Sales fell 1.2% to $170.7 million for the quarter ended Sept. 30. Comps dropped 4.1% as a 1.1% increase in average ticket failed to overcome a 5.2% decrease in traffic.
Based on these results, Tuesday Morning said it currently expects the loss per share for the first quarter to be in the range of 12 to 13 cents compared to the year-ago period's loss per share of 6 cents.
Kathleen Mason, president and ceo, said: "We remain focused on our previously announced initiatives and believe that these initiatives will positively impact customer traffic and our overall business in the back half of our fiscal year."
The company will report its full first quarter results Oct. 24