Shares of Tuesday Morning Corp (NASDAQ:TUES) got a bump after the off-price retailer of upscale home furnishings and accessories reported a smaller-than-expected fiscal third-quarter loss on better-than-expected revenue.
The Dallas, Texas-based company reported a quarterly loss of US$0.18 per share on revenue of US$223.3mln. The consensus estimate called for a loss of US$0.19 per share on revenue of US$209mln. Revenue grew 10.0% on a year-over-year basis.
Investors noted the revenue expansion and sent shares of Tuesday Morning up 6.6% to US$3.25.
Same-store sales increased 9.1% compared with the same period a year ago and saw a 5.9% increase in customer transactions.
In a further positive sign, the company said it expects comparable store sales for fiscal 2018 to increase 3% to 4%.
Tuesday Morning opened its first store in 1974 and has since built a network of 715 stores in 40 states. The off-price retailer sells home accessories, textiles, home furnishings, houseware, and seasonal décor.
Contact Uttara Choudhury at [email protected]