14223 Thu, 04/10/2008 - 10:51am
DALLAS–Tuesday Morning Corp. reported today that its sales for the third quarter ended March 31 declined 5.9 percent to $178.4 million, compared with the same period last year.
Same-store sales for the quarter were down 8.2 percent.
The discounter, which primarily sells closeout home products, said it expects diluted earnings per share for the quarter to range from minus-10 cents to minus-12 cents.
Kathleen Mason, president and chief executive officer, blamed “general economic conditions” for the poor showing, saying in a statement that the home sector “has been particularly impacted by the drop in home values and the slowdown in housing starts.”
The company said it expects sales for the fiscal year to range from $895 million to $910 million, and diluted earnings per share to be between 38 cents to 45 cents.