Tuesday Morning Projects Loss for Fourth Quarter
July 26, 2011-- Home Textiles Today,
DALLAS- Declines in top-line and same-store sales prompted Tuesday Morning to forecast a loss for the fourth quarter.
The 861-store retailer's fourth quarter loss per share for the period ended June 30 is expected to range fro 3 cents to 5 cents compared to earnings per share in the year-ago period of 3 cents.
For the fiscal year, earnings per share are expected to be 21 to 23 cents compared to EPS of 25 cents in the previous fiscal year.
Sales fell 3% to $194.8 million during quarter, with comps off 4.5%. Fiscal year sales slipped 0.8% to $821.2 million. Comps declined 1.2%.
"We had a strong increase in ticket early in the quarter; however, June was a particularly challenging month with a decline in both ticket and traffic," said Kathleen Mason, president and ceo.