Tuesday Morning revises Q4 guidance

DALLAS – Upscale closeout retailer Tuesday Morning Corp., which operates 732 stores in 46 states, revised its guidance for the fourth quarter and year ending Dec. 31, 2005.

Total sales for the quarter are now expected to be in the range of $330 to $335 million, resulting in total sales for the year ending of $927 to $932 million, up 3.3 to 3.8 percent, respectively, from total annual sales of $897.8 million in fiscal 2004. Comp store sales for the full year are now expected to be down approximately 4.0 to 4.5 percent.

Diluted earnings per share, based on the results, would be $0.81 to $0.84 for the fourth quarter, and $1.42 to $1.45 per diluted share for fiscal 2005. Excluding the $0.06 per diluted share lease accounting charge taken in the first quarter, diluted earnings for fiscal 2005 would be $1.48 to $1.51 versus $1.50 diluted earnings for the 2004 fiscal year. 

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