-
Tuesday Morning revenues up slightly, loss widens
DALLAS — Tuesday Morning reported that net revenue for its first quarter increased 1.3% to $172.8 million from $170.7 million in the first quarter of fiscal 2012.
Comparable-stores sales increased by 1.7% compared with the first quarter of fiscal 2012 and were comprised of a 4.7% increase in average ticket and a 3% decrease in traffic.
The company reported that net loss was $7 million or a 17 cents loss per share compared to a net loss of $5.7 million or a 13 cents loss per share in the first quarter of fiscal 2012.
-
American Greetings board considers privatization
CLEVELAND — Greeting card maker American Greetings announced last week that its board has formed a committee of independent directors to consider an offer to privatize the company, reported the Associated Press.
According to AP, CEO Zev Weiss and his brother, president and COO Jeffrey Weiss, along with other investors and executives, submitted a proposal to the board on Sept. 25. The group wants to buy all of the company's common stock that it doesn't already own for $17.18 per share, valuing American Greetings at approximately $581 million.