FINANCE

Tuesday Morning loss widens in Q1; COO out

BY Katherine Boccaccio

Dallas — Tuesday Morning Corp. on Monday reported a loss of $7 million for the quarter ended Sept. 30, widened from a loss of $5.7 million in the year-ago quarter.

The clearance retailer’s new CEO Brady Churches also announced the departure of executive VP and COO Michael Marchetti, a 12-year veteran of Tuesday Morning.

In the first quarter, the company saw revenue edge up 1.3% to $172.8 million and same-store sales increased 1.7%.

“I am excited to be leading Tuesday Morning through a new era that will involve improvements in areas that include merchandising, store operations and marketing,” said Churches. “We believe our loyal customers will respond positively to these improvements once they are implemented over the course of the next few quarters.”

The company is maintaining its full-year guidance.

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Tuesday Morning revenues up slightly, loss widens

BY CSA STAFF

DALLAS — Tuesday Morning reported that net revenue for its first quarter increased 1.3% to $172.8 million from $170.7 million in the first quarter of fiscal 2012.

Comparable-stores sales increased by 1.7% compared with the first quarter of fiscal 2012 and were comprised of a 4.7% increase in average ticket and a 3% decrease in traffic.

The company reported that net loss was $7 million or a 17 cents loss per share compared to a net loss of $5.7 million or a 13 cents loss per share in the first quarter of fiscal 2012.

Brady Churches, president and CEO, stated, "I am excited to be leading Tuesday Morning through a new era that will involve improvements in areas that include merchandising, store operations and marketing. With its unique position as a leading national closeout retailer for home-related goods and accessories, Tuesday Morning has built a loyal customer base over the years. We believe our loyal customers will respond positively to these improvements once they are implemented over the course of the next few quarters. A renewed organizational focus on our roots of delivering compelling values in our core home-related categories to our customers, in a no-frills store environment that is clean and easy to shop, will drive an improved shopping experience for our customers and increased financial returns for our shareholders."

Tuesday Morning is maintaining its full year guidance for net sales to be in the range of
$820 million to $830 million. Comparable-store sales for fiscal 2013 are expected to be roughly flat and earnings per diluted share are expected to be in the range of 18 cents to 23 cents.

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QuantiSense, Teradata partner to provide better solutions for retailers

BY CSA STAFF

ATLANTA — QuantiSense, a provider of retail analytics and decision orchestration solutions, has partnered with Teradata. As a result of this partnership and certified integration, retailers will benefit from the rapid and focused implementation of the QuantiSense Decision Orchestration PlatformTM which fits seamlessly into Teradata’s scalable, enterprise-wide retail solution.

The QuantiSense Decision Orchestration PlatformTM version 6 has been tested and certified to work with all currently supported versions of the Teradata Database. The QuantiSense solution includes executive dashboards and personalized Retail ScorebooksTM designed to deliver intuitive business graphics — via desktop or mobile access — that empower users to quickly identify trends and highlight problems, accelerating the decision-making process. Then Retail Playbooks ensure consistent use of best practices for team members ranging from merchandising executives, buyers, allocators and planners to store operations.

“Combining the QuantiSense and Teradata solutions gives retailers the best of both worlds – a quick return on investment in key aspects of their business with the power to expand the data warehouse across their entire operation,” said Tim Simmons, vice president retail industry marketing for Teradata. “This unique combination of powerful retail analytics and the most scalable platform family available will appeal to companies that want to expand their analysis and to those who want to stand up an integrated data warehouse very quickly.”

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