Tuesday Morning expects wider 1st-quarter loss

Tuesday Morning expects wider 1st-quarter loss, says sales fell 4 percent

• On 5:07 pm EDT, Friday October 9, 2009

DALLAS (AP) -- Discount housewares chain Tuesday Morning Corp. said Friday it expects a wider loss in its fiscal first quarter, after sales fell 4 percent to $165.9 million, as consumers continued to limit their spending.

The Dallas-based company said it expects its loss per share to range from 11 cents to 13 cents in the three-month period ending Sept. 30, compared with a loss of 10 cents per share in the same period last year.

The company said sales at stores open at least a year fell 5.8 percent in the period, while traffic slipped 1.7 percent. The average amount consumers spent per trip tumbled 4.1 percent.

CEO Kathleen Mason said consumers are still limiting their discretionary spending. She said the quarter started slowly but improved in September.

The company expects to release first-quarter results on Oct. 27.

Shares of Tuesday Morning rose 15 cents, or 3.8 percent, to close at $4.14 on Friday.