DALLAS, Oct. 9, 2012 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the first quarter ended September 30, 2012 were $172.8 million compared to $170.7 million for the quarter ended September 30, 2011, an increase of 1.3%. Comparable store sales for the quarter ended September 30, 2012 increased by 1.7% comprised of a 4.7% increase in average ticket offset by a 3.0% decrease in traffic.
Absent one-time items, net loss for the first quarter of fiscal 2013 is expected to increase modestly versus the same period last year.
Brady Churches, President and Chief Executive Officer stated, "It has been five weeks since I joined Tuesday Morning and I am excited about the opportunities to improve the business. There is significant room for improvement on multiple fronts and there remains much work to be done. I look forward to discussing our financial results and sharing my preliminary thoughts on our go-forward strategy on our October 22, 2012 earnings call."Tuesday Morning Corporation's management will hold a conference call to review first quarter financial results on October 22, 2012 at 4:00 p.m. Central 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 , 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 (855) 859-2056, conference ID number 39795779, until November 5, 2012. 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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