Accounts payable was higher at June 30, 2012 by $17.0 million versus the same period last year due to the timing of inventory receipts at the end of the fiscal 2012 period compared to fiscal 2011. There were no significant changes to our vendor payment policy during fiscal 2012. At June 30, 2012, we had no borrowings outstanding under our revolving credit facility. Outstanding letters of credit, primarily for insurance programs, were $8.6 million at June 30, 2012 compared to $8.3 million at June 30, 2011. At June 30, 2012, we had a cash balance of $39.7 million and availability of $123.5 million under our revolving credit facility and we were in compliance with the terms of our revolving credit facility.
We operated 852 stores in 43 states as of June 30, 2012. During the fourth quarter of fiscal 2012, we opened 4 stores, relocated 8 stores and closed 4 stores. During the fiscal year ended June 30, 2012, we opened 24 stores, closed 33 stores and relocated 45 stores.
Fiscal 2013 OutlookNet sales for fiscal 2013 are planned to be in the range of $820 million to $830 million. Comparable store sales are planned to be roughly flat and earnings per diluted share to be in the range of $0.18 to $0.23. For fiscal 2013 capital expenditures are planned to be in the range of $12 to $15 million and total square footage to increase slightly primarily due to relocations. 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.