Tuesday Morning Narrows Q1 Loss

TuesdayMorning_2014DALLAS-With the retailer's Turnaround Phase finished, Tuesday Morning reported a first-quarter net loss that was significantly reduced from the loss in last year's first quarter.

The loss for the quarter, which ended on Sept. 30, totaled $6.2 million, compared to the $12 million loss last year. Net sales jumped 10.1 percent to $202.2 million, including a same-store sales increase of 11.3 percent. In addition, Tuesday Morning enjoyed a 50 percent increase in sales at stores that had been relocated over the past 12 months.

Gross margin improved by 104 basis points to 35.6 percent. Selling, general and administrative expenses edged up 2.4 percent in dollars but dropped 290 basis points as a percentage of sales, to 38.4 percent.

Declaring the Turnaround Phase over, CEO Michael Rouleau said, "This encompassed the exit of non-core categories, the introduction of new and expanded categories, comprehensive improvements in store conditions and operations, redirection of our real-estate program and the streamlining of our supply chain." The effort also included the reduction of the level of clearance merchandise, enhancing company policies and eliminating obsolete assets.

Rouleau said Tuesday Morning is "seeing strong sales momentum and improving profitability as consumers have responded well to these changes. Looking ahead, we currently expect to build on this momentum and deliver a successful fall and holiday season."

David GillDavid Gill | Contributing Editor

David Gill is a contributing editor to HFN.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.