Tuesday Morning 4Q sales drop 10.4%

DALLAS Tuesday Morning reported net sales for the fourth quarter ended June 30 were $196.5 million compared to $219.4 million for the quarter ended June 30, 2007, a decrease of 10.4%.

Comparable-store sales for the quarter ended June 30 decreased by 12.7% comprised of an 11% decrease in traffic and a 1.8% decrease in average ticket.

Based on the fourth quarter sales results, the company currently expects diluted earnings per share for the fourth quarter to be in the range of (5 cents) to (8 cents) compared to 5 cents for the same period last year.