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
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.
