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Tuesday Morning swings to loss in Q4
Dallas -- Tuesday Morning Corp. reported Monday that it swung to a loss of $1.4 million in the quarter ended June 30, compared with a profit of $1.3 million in the year-ago period.
Revenue fell 3% to $194.8 million, from $200.8 million last year. Same-store sales declined 4.5%.
For the year, net income fell 11% to $9.6 million. Revenue dipped nearly 1% to $821.2 million.
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Gap to open stores in Vietnam and Guam
San Francisco -- Gap said Tuesday it plans to open stores in both Vietnam and Guam as part of the retailer’s efforts to ramp up overseas expansion.
A Gap store is slated to open in Vietnam in October, followed by a Banana Republic store in late 2012.
The first two Gap stores will open in Ho Chi Minh City as part of a franchise deal with Imex Pan Pacific, with additional stores set for Hanoi in 2012.