The company reported a loss of 13 cents a share, which was better than the consensus estimate of a loss of 15 cents a share. Revenue totaled $182.8 million, which was slightly less than the consensus estimate of $184.86 million. Comparable-store sales increased 6.4%.
Tuesday Morning also reports a 13.1% decline in end inventories to $205.8 million. The company ended the third quarter with $41.6 million in cash and cash equivalents with no borrowings under its line of credit. End inventories totaled $205.8 million, a 13.1% decline from $236.9 million in the same quarter one year earlier.
"Our inventory turnover for the trailing five quarters is 2.5 turns, and compares favorably to our prior year trailing five quarter turnover of 2.2 turns," the company said in a statement.
The stock closed up 15.63%, or $2.04, to $15.09.