Tuesday Morning sales up for Q2

DALLAS Tuesday Morning reported net sales for the second quarter ended Dec. 31 were $289.6 million compared with $272.7 million for the quarter ended Dec. 31, 2008, an increase of 6.2%.

Comparable-store sales for the quarter increased by 5.1% comprised of a 5.3% increase in traffic and a 0.2% decrease in ticket.

Based upon the results of the quarter, the company currently expects diluted earnings per share for the second quarter to be in the range of 40 cents to 43 cents. Diluted earnings per share were 31 cents for the quarter ended Dec. 31, 2008. 

Kathleen Mason, president and CEO, stated, "We were pleased with the increase in traffic during the holiday selling season in the midst of a highly competitive retail environment. We increased our cash position from the prior year, achieved higher sales on reduced inventory, and eliminated debt. All of these factors contributed to improving an already strong balance sheet."