NEW YORK (TheStreet) -- Shares of Tuesday Morning (TUES) - Get Report were falling 39.4% to $5.61, hitting a 52-week low of $4.86, Friday after the discount retailer missed analysts' estimates for earnings in the fiscal fourth quarter.
Tuesday Morning reported a loss of 10 cents a share for the quarter, missing analysts' estimates of a loss of 1 cent a share. Revenue grew 0.2% year over year to $213 million for the quarter, below analysts' estimates of $219.58 million.
"Our fourth quarter and Fiscal 2015 performance reflects clear progress in implementing the strategic initiatives that will help ensure sustained profitability and a revitalized company built for long-term success," CEO Michael Rouleau said in a statement. "These initiatives include, among others, successfully transitioning our merchandise strategy, improving our store portfolio, and commencing our Rebuilding Program."
About 2.3 million shares of Tuesday Morning were traded by 10:17 a.m. Friday, above the company's average trading volume of about 596,000 shares a day.
TheStreet Ratings team rates TUESDAY MORNING CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TUESDAY MORNING CORP (TUES) a HOLD. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."
You can view the full analysis from the report here: TUES Ratings Report