Tuesday Morning Boosts Profits In Fiscal 2010

Tuesday Morning posted net sales of $200.8 million for the fourth quarter of fiscal 2010, an increase of 6.4%.

Comparable store sales for the quarter gained 6%, reflecting a 5.7% improvement in traffic and a 0.3% increase in average ticket. Net income for the quarter was $1.3 million, or 3 cents per diluted share, compared to a net loss of $1.6 million, or 4 cents per diluted share, for the same period in fiscal 2009.

For the full fiscal year, net sales were $828.3 million, an increase of 3.3%. Comps gained 2.2%, reflecting a 3.4% improvement in traffic offset by a 1.2% decrease in average ticket. Net income was $10.7 million, or 25 cents per diluted share, versus $44,000, or zero cents per diluted share, in fiscal 2009.