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DALLAS, Jan. 8, 2013 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the second quarter ended December 31, 2012 were $285.3 million compared to $273.1 million for the quarter ended December 31, 2011, an increase of 4.5%. Comparable store sales for the quarter ended December 31, 2012 increased by 5.6% comprised of a 5.3% increase in average ticket and a 0.3% increase in traffic. For the six-month period ended December 31, 2012, net sales were $458.1 million compared to $443.7 million during the same period last year. Comparable store sales for the six-month period ended December 31, 2012 increased 3.2%.
Brady Churches, President and Chief Executive Officer stated, "We are pleased with the Company's second quarter sales results, which reflect healthy demand for textiles and cool weather merchandise, enthusiastic customer response to our November and December events, and stronger company-wide merchandising strategies. Additionally, we expect to incur a one-time charge in our fiscal second quarter for strategic adjustments, predominantly inventory valuation, enabling us to end the quarter with a cleaner inventory balance and better positioning us for the quarters ahead. We will discuss the details of these adjustments on our earnings call in two weeks."
Tuesday Morning also reported that, commencing with this second quarter sales report, the Company will no longer provide net income estimates with sales figures, but will instead consolidate all such reporting in its earnings reports.
Tuesday Morning Corporation's management will hold a conference call to review second quarter financial results on January 22, 2013 at 4:00 p.m. Central 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 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).
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 843 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.