Tuesday Morning Sales Miss Expectations

Dallas Tuesday Morning Corp. said Friday that sales in the fiscal second quarter fell 11.7% and it forecast earnings below Wall Street expectations.

The company also said sales in the fiscal year ending in June will be $800 million to $810 million. It expects same-store sales declines in the low double digits.

Analysts were expecting the company to break even on $813.3 million in sales for the year.

For the most recent quarter, Tuesday Morning said sales dropped to $272.5 million from $308.7 million a year earlier, missing analysts’ forecast of $284.1 million.

Same-store sales tumbled 14.9%.

The stores were hurt both by less traffic — down 9.6% — and more frugal shoppers. The average ticket per customer fell 5.3%.

For the first six months of the fiscal year, sales fell to $446.1 million from $510.3 million a year earlier, and same-store sales tumbled 15.8%.