Tuesday Morning shrinks net loss in Q1

Dallas –- Tuesday Morning Corp. cut its net loss almost in half to $6.23 million in the first quarter of fiscal 2015 from $12 million in the same period the prior fiscal year. Net sales increased 10% to $202.2 million, compared to $183.7 million.



Same-store sales increased 11%. The retailer credited the turnaround phase of its ongoing transformation program for creating the generally encouraging results.



"During the first quarter, we successfully completed the turnaround phase of our program to transform Tuesday Morning,” said Michael Rouleau, CEO Tuesday Morning. “This encompassed the exit of non-core categories, the introduction of new and expanded categories, comprehensive improvements in store conditions and operations, redirection of our real estate program, and the streamlining of our supply chain."