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Tuesday Morning Corp.'s net sales, comps higher in first quarter

DALLAS - Tuesday Morning Corporation today reported net sales for the first fiscal quarter ended Sept. 30, 2012 wereTuesday Morning reports 1st quarter financials $172.8 million compared to $170.7 million for the quarter ended Sept. 30, 2011, an increase of 1.3%.

Comparable store sales for the quarter increased by 1.7%, comprised of a 4.7% increase in average ticket offset by a 3% decrease in traffic.

Absent one-time items, net loss for the first quarter of fiscal 2013 is expected to increase modestly versus the same period last year.

Brady Churches, president and CEO, said, "It has been five weeks since I joined Tuesday Morning and I am excited about the opportunities to improve the business. There is significant room for improvement on multiple fronts and there remains much work to be done. I look forward to discussing our financial results and sharing my preliminary thoughts on our go-forward strategy on our October 22, 2012 earnings call."

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