-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DGw6n5HEkHje6mM1fdDQonUYCQaWB6Mb/8f/9P5DdXs3uToWgrXLCqG1ZqpyUdV6 crw2hGBulV7CVWZMCzy46Q== 0001171843-10-000023.txt : 20100111 0001171843-10-000023.hdr.sgml : 20100111 20100111080012 ACCESSION NUMBER: 0001171843-10-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100111 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100111 DATE AS OF CHANGE: 20100111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TUESDAY MORNING CORP/DE CENTRAL INDEX KEY: 0000878726 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 752398532 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19658 FILM NUMBER: 10519023 BUSINESS ADDRESS: STREET 1: 6250 LBJ FREEWAY CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2143873562 MAIL ADDRESS: STREET 1: 6250 LBJ FREEWAY CITY: DALLAS STATE: TX ZIP: 75240 8-K 1 document.htm FORM 8-K FILING DOCUMENT Form 8-K Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8-K


CURRENT REPORT

Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 11, 2010  


Tuesday Morning Corporation
(Exact name of registrant as specified in its charter)


Delaware
 
0-19658
 
75-2398532
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer Identification No.)


 
6250 LBJ Freeway, Dallas, Texas
 
75240
 
  (Address of principal executive offices)   (Zip Code)  

Registrant's telephone number, including area code:   (972) 387-3562



Not applicable
(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    [    ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    [    ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    [    ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    [    ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On January 11, 2010, Tuesday Morning Corporation, a Delaware corporation, issued a press release announcing net sales and comparable store sales percentage for the second fiscal quarter and six-month period ended December 31, 2009. In the press release, the Company also updated its guidance for the fiscal year ending June 30, 2010. The press release is attached to this Form 8-K as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

    Exhibit 99.1.       Press release dated January 11, 2010


SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

    Tuesday Morning Corporation
(Registrant)

January 11, 2010
(Date)
  /s/   STEPHANIE BOWMAN
Stephanie Bowman
Executive Vice President and Chief Financial Officer


  Exhibit Index
  99.1 Press release dated January 11, 2010






EX-99.1 2 newsrelease.htm PRESS RELEASE Tuesday Morning Corporation Announces Second Quarter Fiscal 2010 Sales

EXHIBIT 99.1

Tuesday Morning Corporation Announces Second Quarter Fiscal 2010 Sales

DALLAS, Jan. 11, 2010 (GLOBE NEWSWIRE) -- Tuesday Morning Corporation (Nasdaq:TUES) today reported net sales for the second quarter ended December 31, 2009 were $289.6 million compared to $272.7 million for the quarter ended December 31, 2008, an increase of 6.2%. Comparable store sales for the quarter ended December 31, 2009 increased by 5.1% comprised of a 5.3% increase in traffic and a 0.2% decrease in ticket. For the six-month period ended December 31, 2009, net sales were $455.5 million compared to $446.1 million for the same time last year. Comparable store sales for the six-month period ended December 31, 2009 increased 0.8%.

Based upon the results of the quarter, the Company currently expects diluted earnings per share for the second quarter to be in the range of $0.40 to $0.43. Diluted earnings per share were $0.31 for the quarter ended December 31, 2008. Based upon the above results, we have revised our guidance for the full fiscal year ending June 30, 2010 as follows:



 Net Sales:                   $805 million to $815 million
 Comparable store sales:      Negative low single digits to flat
 Diluted earnings per share:  $0.06 to $0.10
 Capital expenditures:        $21 million
 Decrease in store count:     (7)

Kathleen Mason, President and Chief Executive Officer, stated, "We were pleased with the increase in traffic during the holiday selling season in the midst of a highly competitive retail environment. We increased our cash position from the prior year, achieved higher sales on reduced inventory, and eliminated debt. All of these factors contributed to improving an already strong balance sheet."

The Company expects to release second quarter financial results on January 26, 2010.

About Tuesday Morning

Tuesday Morning is a leading closeout retailer of upscale, decorative home accessories, housewares and famous-maker gifts in the United States. The Company opened its first store in 1974 and currently operates 858 stores in 43 states. Tuesday Morning is nationally known for bringing its more than 9.0 million loyal customers a unique treasure hunt of high-end, first quality, brand name merchandise...never seconds or irregulars...at prices well below those of department and specialty stores and catalogues.

This press release contains forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995, which are based on management's current expectations, estimates and projections. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "believe," "estimate," "intend" and similar words, although some forward-looking statements are expressed differently. You should carefully consider statements that contain these words because they describe our expectations, plans, strategies and goals and our beliefs concerning future business conditions, our future results of operations, our future financial positions, and our business outlook or state other "forward-looking" information.

Reference is hereby made to "Item 1A. Risk Factors" of the Company's Annual Report on Form 10-K for the year ended June 30, 2009 for examples of risks, uncertainties and events that could cause our actual results to differ materially from the expectations expressed in our forward-looking statements. These risks, uncertainties and events also include, but are not limited to, the following: uncertainties regarding our ability to open stores in new and existing markets and operate these stores on a profitable basis; conditions affecting consumer spending and the impact, depth and duration of the current economic recession; inclement weather; changes in our merchandise mix; timing and type of sales events, promotional activities and other advertising; increased or new competition; loss or departure of one or more members of our senior management, or experienced buying and management personnel; an increase in the cost or a disruption in the flow of our products; seasonal and quarterly fluctuations; fluctuations i n our comparable store results; our ability to operate in highly competitive markets and to compete effectively; our ability to operate information systems and implement new technologies effectively; our ability to generate strong cash flows from our operations; our ability to maintain internal control over financial reporting; our ability to continue obtaining funding from external sources; our ability to anticipate and respond in a timely manner to changing consumer demands and preferences; and our ability to generate strong holiday season sales. The forward-looking statements made in this press release relate only to events as of the date on which the statements were made. We undertake no obligations to update our forward-looking statements to reflect events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated events.

CONTACT:  Tuesday Morning Corporation
          Stephanie Bowman, Chief Financial Officer
          972-934-7251

          Laurey Peat + Associates
          Laurey Peat
          214-871-8787
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