DALLAS–Tuesday Morning, the closeout retailer of upscale home furnishings, reported this morning that profits for the second quarter ended December 31 fell to $20.5 million, a drop of 13.8 percent compared with the same period the year before. Investors saw their diluted shares drop 12.3 percent to 50 cents, from 57 cents.
These results were based on a decline in sales of 3.9 percent, to nearly $308.7 million.
For the fiscal year ending June 30, the retailer said it projects sales to range from $920 million to $940 million, with sales in stores open at least a year dropping in the low single digits. It also expects earnings per share to range from 55 cents to 62 cents.