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Tuesday Morning posts quarterly sales gain

DALLAS Tuesday Morning reported that net sales for the fourth quarter ended June 30 were $200.8 million compared with $188.7 million for the quarter ended June 30, 2009, an increase of 6.4%. Comparable-store sales for the quarter increased by 6% comprised of a 5.7% increase in traffic and a 0.3% increase in ticket. For the fiscal year ended June 30, net sales were $828.3 million compared with $801.7 million for fiscal 2009. Comparable-store sales for the fiscal year increased 2.2%.

Based upon the results of the quarter, the company said it currently expects diluted earnings per share for the fourth quarter to be in the range of 2 cents to 4 cents . Diluted loss per share was 4 cents for the quarter ended June 30, 2009. For the fiscal year ended June 30, the company said it expects diluted earnings per share to be in the range of 24 cents to 26 cents compared with 0 cents for fiscal 2009.

Kathleen Mason, president and CEO, stated, "Our fourth-quarter performance continued to reflect our positive sales trend. For the third consecutive quarter, we posted increases in both comparable-store sales and traffic. We are encouraged by these solid gains in what continues to be a weak housing market and difficult economy."