DALLAS, April 4 /PRNewswire/ -- Tuesday Morning Corporation (Nasdaq: TUES), the Dallas-based deep discount closeout retail chain reported sales for its first quarter, which ended March 31, 2000, of $90.5 million, a 26% increase compared with $71.8 million in the corresponding period of the prior year. Comparable store sales increased 15.1% for the quarter.
"We are very pleased with our sales for the first quarter of this year. Our merchandise, quality and value continue to improve and have driven these very strong results. Our 15.1% comparable store sales represent the sixth consecutive first quarter of double-digit comps which is among the very best performance in all of retail," stated Jerry M. Smith, president and ceo.
Tuesday Morning Corporation operates the largest chain (currently 390 stores) of deep discount closeout home furnishings and gift stores in North America. These stores open eight times a year for four-week to six-week "events" during the retail industry's peak selling seasons. A broad variety of closeout items are available in such product categories as gifts, crystal, luggage, linens, toys and seasonal items.
The Company specializes in famous-maker, first-quality merchandise which is often found in prestigious department and specialty stores, and such merchandise is sold by Tuesday Morning at prices 50%-80% below traditional retail levels. Tuesday Morning Corporation common shares are traded on Nasdaq's National Market System under the symbol "TUES". SOURCE Tuesday Morning Corporation
CONTACT: Mark E. Jarvis, Chief Financial Officer, Senior Vice President, of Tuesday Morning Corporation, 972-387-3562; or Laurey Peat & Associates, 214-871-8787, for Tuesday Morning Corporation/
|"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Tuesday Morning Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.|