Tuesday Morning Q2 Sales Rise 1.7%; Reiterates FY18 Comps. Outlook

(RTTNews) - Off-price retailer Tuesday Morning Corp. (TUES) reported a 1.7 percent increase in sales for the second quarter ended December 31, 2017 and reiterated its outlook for fiscal 2018 comparable store sales.

The company's net sales for the second quarter were $334 million, up 1.7 percent from the year-ago period.

Comparable store sales for the quarter increased 1.6 percent and comprised of a 1.7 percent increase in customer transactions, slightly offset by a 0.1 percent decrease in average ticket.

Looking ahead to fiscal 2018, Tuesday Morning said it remains comfortable with its previously provided outlook for a comp sales increase of 2 to 5 percent and a significant improvement in adjusted EBITDA, which includes a material increase in gross margins in the spring season reflecting reduced distribution costs.

Tuesday Morning will report its complete financial results for the second quarter on Thursday, February 1, 2018.