Tuesday Morning Takes Preemptive Strike on Cotton Prices
May 10, 2011,
During its third quarter earnings conference call late last the 840-unit chain's evp cfo, Stephanie Bowman, said Tuesday Morning "took advantage opportunistic buys" that became available in the second quarter, and now "this inventory is selling through as we planned."
Added president and ceo, Kathleen Mason: "We invested excess cash in certain merchandise categories to hold pricing, primarily in cotton and textile categories" - which together account for more than one-third of Tuesday Morning's business, she said.
"Although we don't have a true commodity business, this is as close as we get to a commodity item. And we feel very good about that inventory, and we have definitely addressed any inventory that we believe needs price reduction," she continued.
Some of the product categories Mason cited included mattress pads, pillows, rugs, "and that kind of thing."
Proof that the pricing strategy was the right move is evident Tuesday Morning's recent textile product sales, which Mason described as "fairly good right now across the board. We are certainly pleased with where our textiles business is right now."
Related Content By Author
1200 Suppliers are Ready for You at Intertextile Shanghai
Home & Textiles Today eDaily
Most Viewed Articles
See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.