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Tuesday Morning sales rise in 2nd quarter

Tuesday Morning Corporation today reported net sales for thefiscal second quarter ended Dec. 31, 2012  were $285.3 million compared to $273.1 million for the same quarter a year ago, an increase of 4.5%.

Comparable store sales for the quarter increased by 5.6% comprised of a 5.3% increase in average ticket and a 0.3% increase in traffic.

For the six-month period ended Dec. 31, 2012, net sales were $458.1 million compared to $443.7 million during the same period last year. Comparable store sales for the six-month period increased 3.2%.

Brady Churches, president and CEO said, "We are pleased with the company's second quarter sales results, which reflect healthy demand for textiles and cool weather merchandise, enthusiastic customer response to our November and December events, and stronger company-wide merchandising strategies. Additionally, we expect to incur a one-time charge in our fiscal second quarter for strategic adjustments, predominantly inventory valuation, enabling us to end the quarter with a cleaner inventory balance and better positioning us for the quarters ahead. We will discuss the details of these adjustments on our earnings call in two weeks."

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