Tuesday Morning earns $1.3 million in 4Q, returns to profit as sales climb

Tuesday Morning returns to 4Q profit

DALLAS — Tuesday Morning Corp., a retailer that sells housewares and gifts at deep discounts, said Monday that it returned to a fourth-quarter profit as sales climbed and more shoppers visited the store, spending slightly more when they did.

For the three-month period that ended in June 30, the retailer earned $1.3 million, or 3 cents per share. That compares to a loss of $1.6 million, or 4 cents per share, a year earlier.

Revenue rose more than 6 percent to $200.8 million, up from $188.7 million.

Revenue at locations open at least a year — a key performance measure that excludes stores that opened or closed during the year — rose 6 percent.

That was helped by a 5.7 percent increase in the number of customers who shopped at the company’s more than 850 stores.

For the full year, Tuesday Morning earned $10.7 million, or 25 cents per share. That compares to last year’s loss of $44,000, or break-even on a per-share basis.

Full-year sales rose 3.3 percent to $828.3 million, up from $801.7 million.

For the full year, the Dallas company said it expects to earn between 39 cents and 43 cents per share with sales between $870 million and $880 million.

Tuesday Morning shares rose 13 cents, or 3.6 percent, to $3.72 in morning trading.