Tuesday Morning CEO says one-time charge expected in Q2

theflyonthewall.com

Brady Churches, President and CEO stated, "We are pleased with the company's second quarter sales results, which reflect healthy demand for textiles and cool weather merchandise, enthusiastic customer response to our November and December events, and stronger company-wide merchandising strategies. Additionally, we expect to incur a one-time charge in our fiscal second quarter for strategic adjustments, predominantly inventory valuation, enabling us to end the quarter with a cleaner inventory balance and better positioning us for the quarters ahead. We will discuss the details of these adjustments on our earnings call in two weeks."

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