Store Closures, Weather Negatively Impact Tuesday Morning Q1 Comps

First quarter comparable store sales at Tuesday Morning were down as officials with the retailer pinned the decline on a reduced store count and the negative impact of several weather events including Hurricane Dorian.

For the quarter ended September 30, comparable store sales were down 0.7%, which was an improvement over the same quarter the prior year when comparable store sales were down 3.8%.

Overall, net sales for the quarter were $224.4 million, down from sales of $227.3 million in the first quarter of the prior year. Net loss was $9.2 million, or $0.21 per diluted share, compared to a net loss of $8.1 million, or $0.18 per diluted share.

Steve Becker, Tuesday Morning CEO, said the company remains focused on more consistently executing the company’s core off-price model and delivering “compelling values” for shoppers to drive greater store productivity as the year progresses.

The company also plans to open three new stores, relocate five stores and close 25 to 35 stores in fiscal year 2020.