Tuesday Morning comp-store sales rise in Q1
Closeout retailer Tuesday Morning reported a comparable-store increase of 9.1% for the first quarter ended Sept. 30, compared to the year-ago quarter. The comparable-store sales growth was fueled by a 13.4% increase in customer transactions and a 4.3% decrease in average ticket.
The company reported a net sales increase of 6.3% to $183.7 million, compared to $172.8 million in the year-ago quarter.
"While this is a year of significant transition for Tuesday Morning, I believe our first quarter results reflect early positive customer response to the initial changes we are making. Though we've made great progress thus far, there is much work yet to be done in the coming quarters," said CEO Michael Rouleau.
Tuesday Morning operates 820 stores in 42 states.