Tuesday Morning Corporation Announces Second Quarter Fiscal 2011 Sales
DALLAS, Jan. 11, 2011 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the second quarter ended December 31, 2010 were $279.3 million compared to $289.6 million for the quarter ended December 31, 2009, a decrease of 3.6%. Comparable store sales for the quarter ended December 31, 2010 decreased by 3.2% comprised of a 2.9% decrease in traffic and a 0.3% decrease in ticket. For the six-month period ended December 31, 2010, net sales were $452.6 million compared to $455.5 million during the same period last year. Comparable store sales for the six-month period ended December 31, 2010 decreased 0.5%.
Based on the second quarter sales results, the Company currently expects diluted earnings per share for the second quarter ended December 31, 2010 to be in the range of $0.39 to $0.41. Diluted earnings per share were $0.43 for the quarter ended December 31, 2009.
Kathleen Mason, President and Chief Executive Officer stated, "Although we did not achieve a comparable sales increase for the quarter, against last year's strong 5.1% increase, we are in good inventory position heading into the 3 rd quarter. We will continue to focus on our product offerings, real estate portfolio, and profitability."Tuesday Morning Corporation's management will hold a conference call to review second quarter financial results on January 24, 2011 at 5:00 p.m. Eastern Time. The Company will release second quarter results prior to the call. A real-time webcast of the call will be available in the Investor Relations section of the Company's website at http://www.tuesdaymorning.com , or you may dial into the conference at 1-877-312-5376 (no access code required). A replay of the webcast will also be accessible through the Company's website or by dialing (800) 642-1687, conference ID number 34459930, until February 7, 2011. The Company will present at the Cowen and Company 9 th Annual Consumer Conference in New York City at the Westin New York in Times Square on Tuesday, January 11, 2011 at 9:30 a.m. Eastern Time. The audio portion of the presentation will be webcast live at www.tuesdaymorning.com under the Investor Relations section. A replay will also be available online through the Company's website through January 25, 2011. The Company will present at the 13 th Annual ICR XChange Conference in Dana Point, California, at the St. Regis Monarch Beach Resort & Spa on Wednesday, January 12, 2011 at 4:10 p.m. Pacific Time. The audio portion of the presentation will be webcast live at www.tuesdaymorning.com under the Investor Relations section. A replay will also be available online through the Company's website through January 26, 2011. 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 845 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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