After a second quarter that saw comparable store sales decline, Tuesday Morning said it is continuing to focus on its reorganized merchant team as it looks to reshape its off-price buying operations.
Tuesday Morning has appointed Paul Metcalf as acting chief merchant, effective immediately.
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.
Tuesday Morning posted a bigger net loss for its fourth quarter, but the company said it is well positioned to improve sales and earnings performance.
Tuesday Morning reported a sales decline and a net loss in its third quarter, and indicated it is boosting its off-price growth strategies as the retailer looks to identify and reinforce its most successful merchandising assortments.
Tuesday Morning has appointed Reuben Slone, a supply chain industry veteran with over 15 years of retail experience, as a director of the board, effective June 1, 2019.
Second quarter sales at Tuesday Morning were up slightly as the retailer also reported strong gains in net income for the three month period ended December 31.
Off-price retailer Tuesday Morning got off to a strong start this fall season, the company asserted, with comparable store sales rising 3.8%.
Fiscal year fourth quarter sales at Tuesday Morning were up year-over-year as the company reported a gain in comparable store sales and a smaller net loss than the same quarter of the previous year.
Tuesday Morning reported an overall improvement in its third quarter performance, with a robust comparable store sales gain and a narrower net loss.
Tuesday Morning maintained it was making progress in the second quarter and during the holiday season, with a slight increase in comps, net sales and net income.
Tuesday Morning posted a positive holiday season, as the off-price retailer reported that its net sales and comps rose.
Off-price retailer Tuesday Morning produced mixed results in its first quarter, showing an improvement in comparable store sales but a wider net loss.
After facing a potential proxy fight with an investor group of stockholders pushing for leadership changes at the off-price retailer, Tuesday Morning said that it has entered into a cooperation agreement with Jeereddi Partners, Purple Mountain Capital Partners and their affiliates.
Tuesday Morning Corp. is facing a proxy fight with one of its stockholders, which is pushing for a change in CEO and directors of the company.
Tuesday Morning saw its comparable store sales rise in the fourth quarter, but supply chain costs resulted in a wider net loss.
The July 17 issue of HOMEWORLD BUSINESS® features the 18th annual Impact Merchants special report. Housewares suppliers, representing the categories that HomeWorld covers, once again were asked to nominate buyers and merchandisers believed to have made a significant impact during the past year.
Tuesday Morning saw its net loss widen in the third quarter, as well as a decline in comps and net sales, and pointed to the negative impact of lower than planned store inventories.
Comps and net sales gained during Tuesday Morning’s second quarter.
Tuesday Morning has made several changes to its executive management team, which includes the resignation of Melissa Phillips, who served as the company’s president/chief operating officer.