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Tuesday Morning Sales Slip 1.2 Percent in Q1

Posted on October 12, 2011 by HFN Staff

DALLAS-Net sales for Tuesday Morning in its fiscal first quarter totaled $170.7 million, off 1.2 percent from last year's first quarter, according to a preliminary statement from the closeout retailer.

Same-store sales for the quarter, which ended on Sept. 30, fell 4.1 percent, which included a 5.2 percent decrease in traffic offset by a 1.1 percent rise in average ticket. Based on these sales results, the company said it expects its net loss per share to be in the range of 12 to 13 cents, compared with a net loss of 6 cents a share for last year's first quarter.

Kathleen Mason, Tuesday Morning's president and CEO, said, "We remain focused on our previously announced initiatives and believe that these initiatives will positively impact customer traffic and our overall business in the back half of our fiscal year."