Tuesday Morning key 3Q revenue figure up 2.8 pct

Tuesday Morning posts 2.8 pct increase in 3rd-qtr revenue at stores open at least a year

Associated Press

DALLAS (AP) -- Tuesday Morning Corp. said its fiscal third-quarter revenue at stores open at least a year rose 2.8 percent, as more customers visited its stores and spent more on average during each visit.

The Dallas-based discount retailer said Tuesday the growth stemmed from 1.4 percent increases in both average transaction value and customer traffic. The metric is a key measure of a retailer's health, because it excludes sales at stores that recently opened and closed.

Total sales for the quarter ended March 31 increased 3.1 percent to $178.1 million, from $172.7 million in the year-ago period.

For the nine-month period ended March 31, revenue at stores open at least a year increased 3.7 percent. Total sales rose 3.2 percent to $636.2 million, from $616.4 million.

The company plans to release its full third-quarter results on April 25.

Tuesday morning shares closed Monday trading at $7.36. The stock has traded between $3.66 and $9.65 in the past 52 weeks.

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