Tuesday Morning Gets Bid Higher on Q4 Earnings Results
Shares of Tuesday Morning (NASDAQ: TUES) are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are bid $3.56, at $3.89; they ended the regular session lower by 1.45%, at $3.40.
Tuesday Morning reported Q4 EPS of ($0.03) on revenues of $194.8 million. Revenues decreased 3.0% year over year. Comparable store sales decreased 4.5% for the fourth quarter of fiscal 2011 compared to the same period last year.
The decrease in comparable store sales was comprised of a 5.4% decrease in traffic partially offset by a 0.9% increase in average ticket.
Kathleen Mason, President and Chief Executive Officer, stated, "While we are disappointed with the results of our fiscal fourth quarter, we are focused on several key areas to optimize our marketing efforts, improve our customer's experience on our website and drive traffic to our stores. These efforts, combined with disciplined cost and inventory management, and prudent capital allocation, will be our focus this year as we strive to drive sales, improve profitability and enhance shareholder value. "
Tuesday Morning Corporation is a closeout retailer of decorative home accessories, housewares and famous-maker gifts in the United States.
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