Tuesday Morning Corporation (NASDAQ: TUES) posted smaller than estimated loss for the fourth quarter. However, revenue fell shy of the expectations.
The company suffered a net loss of $3.9 million, or a loss of $0.09 a share, smaller than the net loss of $4.2 million, or a loss of $0.10 a share, in the year-ago period. Analysts' expected a loss of $0.13 a share.
Tuesday Morning's net sales advanced to $222.8 million in the fourth quarter representing 4 percent growth, which was below than the analysts' estimates of $228.46 million.
The company's CEO, Steve Becker, said, "As seen by both our fourth quarter and our record-high full-year sales results, our top-line performance continues to benefit from these efforts along with the progress we have made improving our assortment and overall customer experience."
Going forward, Tuesday Morning said it expects to invest capital of about $40 - $45 million in the next fiscal 2017. The company indicated that it would continue its focus on its real estate strategy for new stores, and relocations apart from expansions of existing stores, and IT infrastructure and enhancements.
Following the news, the stock edged up by $0.05, or 0.64 percent, to trade at $7.85 in the pre-market on Friday.
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