I predicted a positive EPS this quarter along with higher EPS driven by DC efficeincies and higher inventory turn last quarter. Got a lot of flack from the forum... I'll be releasing my second article about Tues Morning following an outstanding Q once I make it through the editorial process. Sorry to the shorts but I warned ya... Take a read of my article here: http://seekingalpha.com/article/1886701-tuesday-morning-corporation-the-long-view-sees-significant-upside
Part 2 to follow... may include stock price point analysis.
Calling this an "outstanding" quarter destroys any credibility you might have. No objective analysis could possibiy call it that. What are you basing such a claim on? Improved inventory turns? Or still lovin' them new cash registers, i'm guessing?
Why don't you address the fact that adjusted operating income was down nearly 20% in the quarter. Naw. You'd rather have us pay no attention to the man behind that curtain.
The fact of the matter is Rouleau has had 11 months!......and the Xmas quarter should have shown more dramatic increases in sales and margins, to EVIDENCE that they are "on their way" to earning $1+ in EPS again. We see nothing of the sort here. WORSE, Rouleau MISCALCULATED, and jacked up the store level SG&A, to improve the "store experience," and has NOTHING to show for it.
We got more visits...but a LOWER average ticket. Why is that not a problem? People are liking coming around more, because the store are cleaner and more organized.....but they are NOT buying more stuff. If they haven't, by now, when will they.