DALLAS — Tuesday Morning has revised its fiscal year guidance and now expects total net sales to be in the range of $820 million to $830 million and comparable-store sales to be slightly negative for the full year of fiscal 2011. Diluted earnings, based on these sales results, are now expected to be approximately 25 cents to 30 cents per share for fiscal 2011, the company.
"We project to be debt free with a solid cash position at year end; however, we are revising our guidance due to the disappointing start of June sales through this past weekend," said Kathleen Mason, president and CEO. "Food and fuel inflation, combined with the challenging housing market, has affected our customers' disposable income. The resulting pull back in discretionary spending has impacted the incremental portion of our sales. Despite this, our balance sheet remains strong and we continue to generate earnings and positive cash flow for fiscal 2011."