Tuesday Morning key revenue figure falls in 3Q

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Associated Press

Posted on April 10, 2012 at 9:01 AM

DALLAS (AP) — Tuesday Morning Corp.'s revenue at stores open at least a year fell 3.2 percent in the third quarter on declining traffic and a drop in spending.

This figure is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Tuesday Morning, which sells home accessories and gifts at discount prices, said Tuesday that traffic dropped 1.8 percent for the quarter ended March 31 and customer tickets, or what they spent in total on their purchases, declined 1.4 percent.

Total revenue slipped 1 percent to $172.7 million from $174.3 million.

Citing its quarterly sales results, Tuesday Morning said that it anticipates a third-quarter loss of 9 cents to 11 cents per share. In the prior-year period the Dallas company lost 8 cents per share.

Tuesday Morning's revenue at stores open at least a year fell 4.1 percent for the nine months ended March 31, while total revenue declined 2 percent to $616.4 million from $626.4 million.

Tuesday Morning runs 852 stores in 43 states.

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