Tuesday Morning expects Q1 loss following comps drop

DALLAS — Continued softness in the home and housewares category is evident at Tuesday Morning, which said it expects the loss per share for the first quarter to be in the range of 12 cents to 13 cents.

Tuesday Morning reported that sales for its first quarter ended Sept. 30 were down 1.2% to $170.7 million from $172.8 million last year. The company said comparable-stores were down 4.1% comprised of a 5.2% decrease in traffic offset by a 1.1% increase in average ticket.

Kathleen Mason, president and CEO, stated, "We remain focused on our previously announced initiatives and believe that these initiatives will positively impact customer traffic and our overall business in the back half of our fiscal year."

The company expects to release its full first-quarter results on Oct. 24.