$TUES (Tuesday Morning Corporation)

$TUES {{ '2015-12-14T14:33:13+0000' | timeago}} • Announcement

Dallas-based retailer chain $TUES said that its Board has appointed Steven Becker as CEO, effective immediately. Becker has been executive chairman in the Company since Sept. 28, 2015 and will continue to serve the Board. Lead Independent Director, Terry Burman, will assume responsibilities as Board Chair.

$TUES {{ '2018-01-08T15:20:03+0000' | timeago}} • Announcement

$TUES reported sales results for 2Q18. Net sales were $334MM with a comparable store sales increase of 1.6%, which was comprised of a 1.7% increase in customer transactions, slightly offset by a 0.1% decrease in average ticket.

$TUES {{ '2017-10-02T12:53:01+0000' | timeago}} • Announcement

$TUES entered into a cooperation agreement with Jeereddi Partners, Purple Mountain Capital Partners and their affiliates, whereby $TUES' BoD  agreed to nominate James Corcoran, CEO of Purple Mountain Capital as an independent director candidate on its slate of director nominees for election at the 2017 Annual Meeting.

$TUES {{ '2017-09-28T17:02:29+0000' | timeago}} • Announcement

$TUES reaffirmed its outlook for FY18. This includes an expected increase in comparable store sales of 2-5% and a significant improvement in EBITDA. The company also expects an increase in comparable store sales for 1Q18 in the same 2-5% range including the impact of the recent hurricanes.

$TUES {{ '2017-02-03T14:05:21+0000' | timeago}} • Announcement

For FY17, $TUES expects capital of approx. $40-45MM, with a continuing focus on its real estate strategy for new stores, relocations and expansions of existing stores, and IT infrastructure and enhancements.

$TUES {{ '2017-02-03T14:02:41+0000' | timeago}} • Announcement

Off-price retailer $TUES reported lower 2Q17 earnings. The company's net income fell to $8.4MM, or $0.19 per share, compared to $18.9MM, or $0.43 per share in 2Q16. Net sales rose to $328.1MM compared to $319.9MM. Comparable store sales rose 3.8% YoY and were comprised of a 4.9% increase in customer transactions.

$TUES {{ '2017-01-17T14:55:18+0000' | timeago}} • Announcement

$TUES reported preliminary sales results for its 2Q17.  Net sales were about $328MM with a comparable store sales increase of about 3.8%. As previously announced, the company's 2Q17 profitability will be negatively impacted by certain elevated costs, including supply chain expenses. $TUES will report complete 2Q17 results on Feb. 3, 2017.

$TUES {{ '2017-01-17T14:53:55+0000' | timeago}} • Announcement

$TUES said Melissa Phillips, President and COO, has resigned from the company and the position of COO has been eliminated. With Phillips' departure, Steven Becker, will assume additional responsibilities as President.

$TUES {{ '2017-01-17T14:53:03+0000' | timeago}} • Announcement

$TUES promoted Trent Taylor, currently CIO, to Chief Information and Supply Chain Officer, with additional responsibility for the supply chain function. Belinda Byrd-Rohleder has been promoted to SVP, General Merchandising Manager. These appointments reflect the company's continued commitment to supply chain and core merchandising improvements.

$TUES {{ '2016-11-22T19:29:00+0000' | timeago}} • Announcement

$TUES appointed Barry Gluck as a director of the board, effective Jan. 1, 2017. Gluck served in various Senior Management positions with $ROST from 1989 to 2007, most recently as EVP of Merchandising, Marketing and Store Planning and Allocation. Presently Gluck is the Founder and Managing Director of Gluck Consulting LLC.

$TUES {{ '2016-08-19T14:02:37+0000' | timeago}} • Webcast

Credit Suisse analyst Seth Sigman questions if there is any improvement in the four-wall operating profit. $TUES says that there should be improvement in the four-wall as they go hand-in-hand. In some of the stores, there is a temporary hurdle to get over as it relates to additional rent expense. But the payback period for these stores is 2 years.

$TUES {{ '2016-08-19T13:57:23+0000' | timeago}} • Webcast

Stephens analyst Ben Bienvenu follows up asking if there are any other new categories on the horizon when it comes to seasonal expansion. $TUES says that it is focused more on optimizing the current categories in the store and making sure that it has got the appropriate dollars and resources to those categories that are really driving the business.

$TUES {{ '2016-08-19T13:54:08+0000' | timeago}} • Webcast

Stephens analyst Ben Bienvenu questions on the composition of CapEx guidance. $TUES says that a big portion of FY16 CapEx was focused on the DC. For FY17, the company is saving approx. $30MM and a majority of it will be on new stores, the relocations, and new stores expansions. There will also be some IT infrastructure spend & enhancements.

$TUES {{ '2016-08-19T13:47:49+0000' | timeago}} • Webcast

$TUES said that June-end inventory was $242.3MM, up 15.4% vs. a year ago. The increase in inventory was due to several factors, including a higher level of pack and hold inventory from opportunistic buys, inventory in preparation for its July ad event, higher levels of store inventory and investment in seasonal merchandise.

$TUES {{ '2016-08-19T13:42:32+0000' | timeago}} • Webcast

$TUES said that 4Q16 SG&A expenses were $85.3MM, up 10.5% vs. 4Q15. As a percent of net sales, SG&A rose 200 BP to 38.3% vs. 36.3% in 4Q15. This increase was driven mainly by higher store rent and depreciation, due in part to the company's strategy to improve store real estate, as well as increase store labor and advertising cost.

$TUES {{ '2016-08-19T13:39:47+0000' | timeago}} • Webcast

During 4Q16, $TUES' net sales were $222.8MM, up 4.6% over 4Q15 despite ending the quarter with 18 fewer stores for an ending store count of 751. Comp store sales growth was 6% on top of the 3.6% increase in 4Q15. This comp growth was driven by 5.1% increase in customer transactions and a 0.9% increase in average ticket.

$TUES {{ '2016-08-19T13:33:43+0000' | timeago}} • Webcast

$TUES said that it expects to touch between 120-140 stores in FY17. The company expects to close in the neighborhood of 30-35 stores, open 20-25 stores, expand 15-20 stores, and relocate 50-55 stores. In total, $TUES expects to touch about 15% of its store base annually.

$TUES {{ '2016-08-19T13:28:00+0000' | timeago}} • Webcast

Upscale deep discount retailer $TUES said that during 4Q16, it saw continued traction on the top line demonstrated by strong 4Q16 comp growth of 6% ending the year with comp growth of 7.8%. During the quarter, the company relocated 14 stores, expanded four stores, opened four new stores and closed one store. FY16-end total store count was 751.

$TUES {{ '2016-08-19T12:37:31+0000' | timeago}} • Announcement

$TUES, which sells home accessories, housewares and gifts through its deep-discounted outlets, said it expects to invest capital of approx. $40-$45MM in fiscal 2017. The company said it will spend on new stores, store relocations and expansions of existing stores.

$TUES {{ '2016-08-19T12:34:06+0000' | timeago}} • Announcement

Off-price retailer $TUES reported a narrower quarterly loss, helped by a special gain. The company reported a 4Q16 net loss of $3.9MM, or $0.09 per share, compared to a net loss of $4.2MM, or $0.10 per share a year ago. The Company recorded a gain on sale related to a sale-leaseback transaction of $2.5MM in the quarter. Revenue rose to $222.8MM.

$DE {{ '2016-01-28T18:49:02+0000' | timeago}} • Announcement

Investment banking firm $PJC said that Sherry M. Smith has been elected to the company's BoD. Prior to this, she was the EVP and CFO of $SVU. Smith is currently an independent director at $DE and $TUES along with a committee member at $RLGY.

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