Tuesday Morning Posts Third-Quarter Loss

Tuesday Morning's net loss for the third quarter widened to $6.8 million, or 16 cents per share compared to a net loss of $4.7 million or 11 cents per share in the year-ago period.

For the quarter ended March 31, sales fell 6.4% to $167 million, with comps dropping 9.5%. Tuesday Morning said comps were comprised by a 1.7% decrease in traffic and a 7.8% decline in average ticket.

President and ceo Kathleen Mason said traffic improved over the quarter and sounded a hopeful note. While economic conditions remain uncertain, we have consistently maintained a strong balance sheet, managed inventory levels and generated positive cash flow.

For the nine-month period, net income was $1.6 million, or 4 cents per share, off 91% from net income of $17.0 million, or 41 cents per share in last year's period.

Sales fell 11% to $613.1 million, with comps off 14.2%.

For the fiscal year, Tuesday Morning in projecting sales in the range of $800 million to $810 million, diluted earnings per share it.

Tuesday Morning

QTR. 3/31 (x000) 2009 2008 % CHANGE
(loss)
Sales $167,000 $178,400 -6.4%
Oper. Income (EBIT) (9,388) (7,358)
Net income (6,828) (4,697)
Per share (diluted) (0.16) (0.11)
Average gross margin 37% 36%
SG&A expenses 42% 40%
NINE MONTHS
Sales 613,789 $688,789 -10.9%
Oper. Income (EBIT) 4,436 30,047 -85.2
Net income 1,585 16,994 -90.7
Per share (diluted) 0.04 0.41 -90.2
Average gross margin 37% 37%
SG&A expenses 36% 33%


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.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT August 2017

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.

See details!