Tuesday Morning lowers EPS guidance on poor 4Q sales performance

DALLAS — Tuesday Morning reported fourth-quarter net sales of $194.8 million, a decrease of 3% from last year's fourth-quarter net sales of $200.8 million. Comparable-store sales for the quarter decreased by 4.5%, which was comprised of a 5.4% decrease in traffic and a 0.9% increase in ticket.

Tuesday Morning reported that it now expectsa loss per share for the fourth quarter of fiscal 2011 to be in the range of 3 cents to 5 cents. For the fiscal year ended June 30, the company expects diluted earnings per share to be in the range of 21 cents to 23 cents.

Kathleen Mason, president and CEO, stated, "We had a strong increase in ticket early in the quarter; however, June was a particularly challenging month with a decline in both ticket and traffic. As a result, we experienced a difficult fourth quarter."