Tuesday Morning Corporation Announces First Quarter Sales
DALLAS, April 2 /PRNewswire-FirstCall/ --
Tuesday Morning Corporation (Nasdaq: TUES) today reported sales for the first
quarter ended March 31, 2002. Net sales increased $23.4 million, or 21.3%, to
$132.9 million in the first quarter of 2002 from $109.5 million in the first
quarter of 2001. Comparable store sales for the first quarter of 2002
increased 11.4% compared to the prior year period.
Kathleen Mason, President and CEO, stated, "As a result of our first
quarter sales performance, we expect net income for the first quarter of 2002
to be approximately $4.5 million, or $0.11 per diluted share, compared with
$1.9 million, or $0.05 per diluted share, for the first quarter last year."
The company's previously issued earnings estimates for the remaining three
quarters of 2002 remain unchanged. Tuesday Morning expects to report its
first quarter results on April 11, 2002.
About Tuesday Morning
Tuesday Morning is a leading closeout retailer of upscale home
furnishings, gifts and related items in the United States. The company opened
its first store in 1974 and currently operates 480 stores in 42 states during
periodic "sales events." Tuesday Morning purchases well-recognized first
quality brand name merchandise at closeout and sells it at prices 50% to 80%
below those generally charged by department stores and specialty and catalog
retailers. |
