Tuesday Morning Corporation Announces Executive Appointments

Melissa Phillips, president and COO, resigns from the company
January 17, 2017Press Release

tuesdaymorningstore3x2DALLAS, Jan. 17, 2017 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq: TUES ), a leading off-price retailer with over 720 stores across the United States, today announced two executive appointments that reflect the Company’s continued commitment to supply chain and core merchandising improvements. Trent Taylor, currently serving as Chief Information Officer, has been promoted to Chief Information and Supply Chain Officer, with additional responsibility for the supply chain function. A highly-experienced Senior Vice President of Supply Chain is joining the organization, and will report directly to Mr. Taylor to ensure dedicated oversight of this important function.

Further, Belinda Byrd-Rohleder has been promoted to Senior Vice President, General Merchandising Manager, reporting to Steven Becker, Tuesday Morning's Chief Executive Officer, and will assume responsibility for all merchandise purchasing. Additionally, the field organization has been consolidated to four regions from five regions previously, to drive operational efficiencies and cost savings.

As part of this overall transition, Melissa Phillips, President and Chief Operating Officer, has resigned from the Company and the position of Chief Operating Officer has been eliminated. With Ms. Phillips’ departure, Steven Becker, will assume additional responsibilities as President.

Tuesday Morning also reported preliminary sales results for its second quarter of fiscal 2017. Net sales were approximately $328 million with a comparable store sales increase of approximately 3.8%. As previously announced, the Company’s second quarter of fiscal 2017 profitability will be negatively impacted by certain elevated costs, including supply chain expenses.

The Company will report complete financial results for the second quarter on Friday, February 3, 2017.

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