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Tuesday Morning suffers 3Q loss

4/27/2009

DALLAS Tuesday Morning reported that as previously announced, net sales for the third quarter of fiscal 2009 were $167 million compared to $178.4 million for the quarter ended March 31, 2008, a decrease of 6.4%.

Comparable-store sales decreased 9.5% for the quarter ended March 31 compared to the same quarter in the prior year. The decrease in comparable-store sales was comprised of a 1.7% decrease in traffic and a 7.8% decrease in average ticket, the company reported.

Net loss for the third quarter was $6.8 million or 16 cents per diluted share, compared to a net loss of $4.7 million or 11 cents per diluted share during the same quarter last year.

 

Kathleen Mason, president and CEO, stated, "During the March 2009 quarter, we were encouraged by the improvement in traffic. While economic conditions remain uncertain, we have consistently maintained a strong balance sheet, managed inventory levels, and generated positive cash flow."

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