Tuesday Morning posts comps drop, loss for Q1

DALLAS Tuesday Morning reported that, as previously announced, net sales for the first quarter of fiscal 2010 were $165.9 million compared with $173.4 million for the quarter ended Sept. 30, 2008, a decrease of 4.3%. Comparable-store sales for the quarter ended Sept. 30 decreased by 5.8% comprised of a 1.7% decrease in traffic and a 4.1% decrease in average ticket.

Net loss for the first quarter ended Sept. 30 was $4.7 million, or 11 cents loss per diluted share, compared with a net loss of $4.3 million, or 10 cents loss per diluted share, for the same period last year.

For the full year, Tuesday Morning is expecting net sales between $795 million to $805 million, comparable-store sales in the negative low-single digits and diluted earning per share of (2 cents) to 2 cents.