Breaking News

Tweet TWEET

Tuesday Morning Corporation Reports Second Quarter Same Store Sales Gain of 5.6%

Tuesday Morning Corporation Reports Second Quarter Same Store Sales Gain of
5.6%

DALLAS, Jan. 8, 2013 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation
(Nasdaq:TUES) today reported net sales for the second quarter ended December
31, 2012 were $285.3 million compared to $273.1 million for the quarter ended
December 31, 2011, an increase of 4.5%. Comparable store sales for the quarter
ended December 31, 2012 increased by 5.6% comprised of a 5.3% increase in
average ticket and a 0.3% increase in traffic. For the six-month period ended
December 31, 2012, net sales were $458.1 million compared to $443.7 million
during the same period last year.Comparable store sales for the six-month
period ended December 31, 2012 increased 3.2%.

Brady Churches, President and Chief Executive Officer stated, "We are pleased
with the Company's second quarter sales results, which reflect healthy demand
for textiles and cool weather merchandise, enthusiastic customer response to
our November and December events, and stronger company-wide merchandising
strategies.Additionally, we expect to incur a one-time charge in our fiscal
second quarter for strategic adjustments, predominantly inventory valuation,
enabling us to end the quarter with a cleaner inventory balance and better
positioning us for the quarters ahead.We will discuss the details of these
adjustments on our earnings call in two weeks."

Tuesday Morning also reported that, commencing with this second quarter sales
report, the Company will no longer provide net income estimates with sales
figures, but will instead consolidate all such reporting in its earnings
reports.

Tuesday Morning Corporation's management will hold a conference call to review
second quarter financial results on January 22, 2013 at 4:00 p.m. Central
Time. The Company will release second quarter results prior to the call.A
real-time webcast of the call will be available in the Investor Relations
section of Tuesday Morning Corporation's web site at
http://www.tuesdaymorning.com, or you may dial into the conference at
1-877-312-5376 (no access code required).

About Tuesday Morning

Tuesday Morning is a leading closeout retailer of upscale, decorative home
accessories, housewares and famous-maker gifts in the United States. The
Company opened its first store in 1974 and currently operates 843 stores in 43
states. Tuesday Morning is nationally known for bringing its more than 9.0
million loyal customers a unique treasure hunt of high-end, first quality,
brand name merchandise...never seconds or irregulars...at prices well below
those of department and specialty stores and catalogues.

This press release contains forward-looking statements within the meaning of
the federal securities laws and the Private Securities Litigation Reform Act
of 1995, which are based on management's current expectations, estimates and
projections.Forward-looking statements typically are identified by the use of
terms such as "may," "will," "should," "expect," "anticipate," "believe,"
"estimate," "intend" and similar words, although some forward-looking
statements are expressed differently.You should carefully consider statements
that contain these words because they describe our expectations, plans,
strategies and goals and our beliefs concerning future business conditions,
our future results of operations, our future financial position, and our
business outlook or state other "forward-looking" information.

Reference is hereby made to "Item 1A. Risk Factors" of the Company's Annual
Report on Form 10-K for the year ended June 30, 2012 for examples of risks,
uncertainties and events that could cause our actual results to differ
materially from the expectations expressed in our forward-looking statements.
These risks, uncertainties and events also include, but are not limited to,
the following: uncertainties regarding our ability to open stores in new and
existing markets and operate these stores on a profitable basis; conditions
affecting consumer spending and the impact, depth and duration of current
economic conditions; inclement weather; changes in our merchandise mix; timing
and type of sales events, promotional activities and other advertising;
increased or new competition; loss or departure of one or more members of our
senior management or experienced buying and management personnel; an increase
in the cost or a disruption in the flow of our products; seasonal and
quarterly fluctuations; fluctuations in our comparable store results; our
ability to operate in highly competitive markets and to compete effectively;
our ability to operate information systems and implement new technologies
effectively; our ability to generate strong cash flows from our operations;
our ability to anticipate and respond in a timely manner to changing consumer
demands and preferences; and our ability to generate strong holiday season
sales. The forward-looking statements made in this press release relate only
to events as of the date on which the statements were made. Except as may be
required by law, we undertake no obligations to update our forward-looking
statements to reflect events and circumstances after the date on which the
statements were made or to reflect the occurrence of unanticipated events.

CONTACT: INVESTOR CONTACT:
         Stephanie Bowman
         Chief Financial Officer
         TUESDAY MORNING CORPORATION
         972-934-7251
        
         MEDIA CONTACT:
         Jennifer Habicht / Jonathan Morgan
         Perry Street Communications
         214-965-9955
 
Press spacebar to pause and continue. Press esc to stop.