Tuesday Morning Corp (TUES) Misses Q4 EPS by 1c

Tuesday Morning Corp (NASDAQ: TUES) reported Q4 EPS of ($0.08), $0.01 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $212.6 million versus the consensus estimate of $213.11 million.

Michael Rouleau, Chief Executive Officer, stated, "During the fourth quarter we continued work on the final phase of the Company's turnaround program which includes the sell-off of exited categories, expansion of replacement categories, a further reduction of our clearance merchandise, and enhancements to our store layouts. Our strong comparable store sales trend, increased inventory turnover and improved cash position during the fourth quarter provides us with the confidence that our plan is working as expected and that our customers like what they see."

"As a result of completing this challenging year-and-a-half long turnaround program, we believe that we are confident that we have a solid foundation in place," Mr. Rouleau concluded. "Looking forward, we have high expectations for very successful fall and holiday seasons and, over the longer term, expect to continue to improve our sales productivity and bottom line profitability."

For earnings history and earnings-related data on Tuesday Morning Corp (TUES) click here.

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