Tuesday Morning lowers FY outlook

DALLAS Tuesday Morning today announced that because quarterly revenues did not meet the company's goals, it has revised its outlook for the fiscal year ending June 30, 2008.

The company said that it now expects total sales for the year to be in the range of $943 to $955 million with low-single digit negative comparable-store sales. Diluted earnings per share, based on these sales results, would be approximately 58 cents to 65 cents per diluted share for the fiscal year 2008.

"Revenues for the quarter have fallen short of our expectations due to the continued pressures on the home furnishings sector," said Kathleen Mason, president and ceo.