Tuesday Morning Lowers Expectations

Tuesday Morning Corporation has revised downward its guidance for the fourth quarter and year ending Dec. 31.

Diluted earnings per share for the fourth quarter of 2004 are now expected to be flat at approximately 83 cents. Diluted earnings for the fourth quarter of last year were 83 cents, which included a 6 cent charge for the early extinguishment of debt. Analysts had predicted earnings per share to be $1.05 for the quarter.

For the year ending Dec. 31, total sales are projected to be approximately $890 million, up over 8 percent versus $822.6 million in the prior year period. Year-over-year same-store sales are anticipated to be down low single digits. Based on these sales results, diluted earnings per share for the fiscal year 2004 are now expected to be up over 10 percent to approximately $1.44, down from the retailer's July guidance of $1.67 to $1.69 per share.

Diluted earnings for fiscal 2003 were $1.29, which included a 6 cent charge for the early extinguishment of debt taken in the fourth quarter.

“This season has provided a challenging environment for home furnishings focused retailers,” stated Kathleen Mason, president and CEO. “While business in some of our key decorative home categories as well as in seasonal merchandise has not met expectations, we are encouraged by sales of new receipts of non-seasonal merchandise.”

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

  • Live From New York: Fashion Comes Across the Pond

    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.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!