Tuesday Morning Corporation Announces First Quarter Fiscal 2011 Sales
DALLAS, Oct. 12, 2010 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the first quarter ended September 30, 2010 were $172.8 million compared to $165.9 million for the quarter ended September 30, 2009, an increase of 4.2%. Comparable store sales for the quarter ended September 30, 2010 increased by 4.3% comprised of a 6.1% increase in traffic offset by a 1.8% decrease in average ticket.
Based on the first quarter sales results, the Company currently expects the loss per share for the first quarter ended September 30, 2010 to be in the range of $0.05 to $0.07. The loss per share was $0.11 for the quarter ended September 30, 2009.
Kathleen Mason, President and Chief Executive Officer, stated, "The positive momentum of our business continued in the first quarter as reflected in the fourth consecutive increase in both comparable store sales and customer traffic. Lower average ticket was an indicator that the customer remains cautious with spending discretionary income. However, the results are evidence that our value proposition continues to resonate with our customer in this uncertain economic environment."Tuesday Morning Corporation's management will hold a conference call to review first quarter financial results on October 25, 2010 at 5:00 p.m. Eastern Time. The Company will release first quarter 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 November 9, 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 840 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.
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