Tuesday Morning 1st-quarter Loss Widens

DALLAS (AP) — Discount housewares chain Tuesday Morning Corp. on Monday reported a wider fiscal third-quarter loss as shoppers spent less at stores.

For the period ended March 31, it lost $6.8 million, or 16 cents per share, compared with $4.7 million, or 11 cents per share, last year.

Revenue fell 6 percent to $167 million from $178.4 million a year ago.

Sales in stores open at least one year, a key retail metric known as same-store sales, fell 9.5 percent. The company said traffic fell 1.7 percent while the average ticket fell 7.8 percent.

"During the March 2009 quarter, we were encouraged by the improvement in traffic," said Kathleen Mason, president and chief executive, in a statement.

The Dallas-based chain, which touts upscale home furnishings at closeout prices, has like many retailers faced declining sales as shoppers cut back amid the recession.

Shares of Tuesday Morning gained 13 cents, or 5.1 percent, to $2.68 in morning trading.