Tuesday Morning Sales Slip in Third Quarter
DALLAS-Tuesday Morning said its third-quarter net sales dropped 0.9 percent, to $172.7 million, in a preliminary report on the quarter issued this morning.
Same-store sales for the quarter, which ended on March 31, declined 3.2 percent. The comparable-store number consisted of a 1.8 percent decrease in store traffic and a 1.4 percent falloff in average ticket. Based on the sales results, Tuesday Morning projected that its net loss for the quarter would be between 9 cents and 11 cents per share.
President and CEO Kathleen Mason said Tuesday Morning is focused on its key marketing, e-commerce and real-estate initiatives. "We believe these initiatives, particularly our new online platform which is on track to go live this quarter, will begin to impact our business during our fourth fiscal quarter and increasingly in fiscal 2013," Mason said.