Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Tuesday Morning Corporation (NASDAQ: TUES) reported a net loss of $5.24 million, wider than the net loss of $2.8 million in the same quarter last year. On a per share basis, the loss doubled to $0.12 from $0.06 in the comparable period. This was in line with the Street analysts' expectations.
Tuesday Morning said its net sales were $211.4 million, up 11.4 percent from $211.38 million in the previous year quarter. Its comparable store sales grew 13.4 percent. Street analysts predicted the company to generate revenue of $198.39 million.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
CEO Steve Becker said, "We are very pleased with our third quarter sales performance highlighted by the 13.4% comparable store sales increase. Our third quarter performance was driven by the improvements we have made to our real estate portfolio, product assortment and store experience, which together with an increasingly sharp value proposition, is resonating with our customers and is resulting in increased transactions."
He continued, "During the quarter, we made progress on our core initiatives. As we have previously stated, this work has significant costs which will burden our income statement in the near term, but ultimately will result in a more profitable business model. Along with refining and improving our product assortment, we have been focused on restructuring our supply chain, accelerating our real estate repositioning efforts and completing the build-out of our senior leadership team."
Moving ahead, the Company continues to expect the Phoenix distribution center to be fully operational in the first half of fiscal year 2017. Tues Morning expects a capital spending of approximately $45 million in the current fiscal year 2016.
On Friday, the stock traded 3.89 percent higher.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.