Tuesday Morning Struggles in Q2

Dallas Tuesday Morning reported Tuesday that net sales for the second quarter of fiscal 2009, ended Dec. 31, 2008, dropped 11.7% to $272.7 million, compared to $308.7 million a year ago. Net income for the quarter was $12.7 million, compared to $20.5 million for the same quarter in 2008.

Same-store sales also decreased almost 15% for the quarter compared to the same time frame last year. This decline was comprised of a 9.6% decrease in traffic and a 5.3% decrease in average ticket size, the company reported.