Tuesday Morning (TUES) Reports Better Than Expected Q3 Revenues; Guides In-line

April 13, 2009 8:08 AM EDT

Tuesday Morning Corporation (Nasdaq: TUES) reported net sales for the third quarter ended March 31, 2009 were $167.0 million vs. consensus of $161.11 million.

Based on the third quarter sales results, the Company currently expects diluted earnings per share for the third quarter to be in the range of ($0.15) to ($0.17). (Consensus is a loss of $0.16)

Comparable store sales for the quarter ended March 31, 2009 decreased by 9.5%, comprised of a 1.7% decrease in traffic and a 7.8% decrease in ticket. For the nine month period ended March 31, 2009, net sales were $613.1 million compared to $688.8 million for the same time last year. Comparable store sales for the nine month period ended March 31, 2009 decreased 14.2%, comprised of an 8.3% decrease in traffic and a 5.9% decrease in ticket.

Tuesday Morning is a closeout retailer of upscale, decorative home accessories, housewares and famous-maker gifts in the United States. [SM]

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