Tuesday Morning suffers 2Q loss

DALLAS Tuesday Morning reported that as previously announced, net sales for the second quarter of fiscal 2009 were $272.7 million compared to $308.7 million for the quarter ended Dec. 31, 2007, a decrease of 11.7%. Comparable-store sales decreased 14.9% for the quarter compared to the same quarter in the prior year.

According to the company, the decrease in comparable-store sales was comprised of a 9.6% decrease in traffic and a 5.3% decrease in average ticket.

Net income for the second quarter was $12.7 million or 31 cents per diluted share, compared to $20.5 million or 50 cents per diluted share during the same quarter last year.

Kathleen Mason, president and CEO, stated, "The December 2008 quarter was reported as the most difficult retail holiday season on record. While consumers remain cautious, we remain focused on preserving our strong balance sheet, managing inventory levels and generating positive cash flow."