Tuesday Morning Corporation Announces Fourth Quarter And Fiscal 2010 Sales

DALLAS, July 12, 2010 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the fourth quarter ended June 30, 2010 were $200.8 million compared to $188.7 million for the quarter ended June 30, 2009, an increase of 6.4%. Comparable store sales for the quarter ended June 30, 2010 increased by 6.0% comprised of a 5.7% increase in traffic and a 0.3% increase in ticket. For the fiscal year ended June 30, 2010, net sales were $828.3 million compared to $801.7 million for fiscal 2009. Comparable store sales for the fiscal year ended June 30, 2010 increased 2.2%.

Based upon the results of the quarter, the Company currently expects diluted earnings per share for the fourth quarter to be in the range of $0.02 to $0.04. Diluted loss per share was $0.04 for the quarter ended June 30, 2009.  For the fiscal year ended June 30, 2010, the Company expects diluted earnings per share to be in the range of $0.24 to $0.26 compared to $0.00 for fiscal 2009.

Kathleen Mason, President and Chief Executive Officer, stated, "Our fourth quarter performance continued to reflect our positive sales trend. For the third consecutive quarter, we posted increases in both comparable store sales and traffic.  We are encouraged by these solid gains in what continues to be a weak housing market and difficult economy."    

Tuesday Morning Corporation's management will hold a conference call to review fourth quarter and fiscal 2010 financial results on August 24, 2010 at 5:00 p.m. Eastern Time.  The Company will release fourth quarter and fiscal 2010 results prior to the call. A real-time webcast of the call will be available in the Investor Relations section of Tuesday Morning Corporation's web site at http:// www.tuesdaymorning.com . A replay of the webcast will also be accessible through the Company's web site until September 7, 2010.

About Tuesday Morning

Tuesday Morning is a leading closeout retailer of upscale, decorative home accessories, housewares and famous-maker gifts in the United States. The Company opened its first store in 1974 and currently operates 852 stores in 43 states. Tuesday Morning is nationally known for bringing its more than 9.0 million loyal customers a unique treasure hunt of high-end, first quality, brand name merchandise...never seconds or irregulars...at prices well below those of department and specialty stores and catalogues.