This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday Morning Corporation Announces Fourth Quarter And Fiscal Year 2012 Results And Guidance For Fiscal Year 2013

DALLAS, Aug. 20, 2012 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported that, as previously announced, net sales for the fourth quarter of fiscal 2012 were $196.4 million compared to $194.8 million for the quarter ended June 30, 2011, an increase of 0.8%. Comparable store sales increased 0.2% for the fourth quarter of fiscal 2012 compared to the same period last year. The increase in comparable store sales was comprised of a 2.9% increase in average ticket offset by a 2.7% decrease in traffic. Net loss for the fourth fiscal quarter ended June 30, 2012 was $2.0 million, or $0.05 per share, compared to a net loss of $1.4 million, or $0.03 per share, for the same period last year. Excluding costs associated with the departure of the our former CEO, net loss for the fourth fiscal quarter ended June 30, 2012 was $0.7 million, or a $0.02 per share.

For the fiscal year ended June 30, 2012, net sales were $812.8 million compared to $821.2 million for fiscal 2011, a decrease of 1.0%. Comparable store sales decreased 3.1% for the fiscal year ended June 30, 2012 compared to fiscal 2011. The decrease in comparable store sales was comprised of a 3.3% decrease in traffic, partially offset by a 0.2% increase in average ticket. For the fiscal year ended June 30, 2012, the Company had earnings per diluted share of $0.09 versus $0.22 for fiscal 2011. Excluding costs associated with the departure of our former CEO, earnings per diluted share was $0.12.

Michael Marchetti, President and Interim Chief Executive Officer, stated, "As we move into the new fiscal year, we are focused on improving our sales performance. Innovative sourcing of new merchandise, implementing merchandise initiatives with respect to better allocation and in-stock positions, improved e-commerce performance, a new customer loyalty program, and continued improvement in our store portfolio are all being deployed to drive sales growth and improve profitability. With our strong balance sheet, characteristic cost discipline and the initiatives to drive sales, we are well positioned to deliver improved financial performance in fiscal 2013."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs