FINANCE

Tuesday Morning reports profit, sales dip in Q2

BY CSA STAFF

Dallas — Tuesday Morning Corp. said Monday that net income for the quarter ended Dec. 31 was $17.3 million, compared with $18.5 million in the year-ago period.

Net sales decreased 3.6% to $279.3 million from $289.6 million. Same-store sales decreased 3.2%.

According to Kathleen Mason, president and CEO: "We anticipate that we will return to positive comparable sales for the remainder of the fiscal year.” Tuesday Morning reported four consecutive quarters of same-store sales growth prior to the second quarter.

The closeout retailer opened six stores during the quarter, relocated six stores and closed one store. It currently operates 845 stores in 43 states.

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OPERATIONS

Bon-Ton re-ups CEO’s contract, promotes COO

BY CSA STAFF

York, Pa. — The Bon-Ton Stores said Monday that it has extended president and CEO Bud Bergren’s contract through Feb. 5, 2012, and has promoted Barbara Schrantz to COO.

Under the newly announced agreement, Bergren’s contract will automatically renew annually, unless the board chooses otherwise. Schrantz will assume the role of COO on Jan. 30. She is currently executive VP sales promotion and marketing.

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REAL ESTATE

Sunflower Farmers Market to open third Utah location

BY CSA STAFF

Salt Lake City — Sunflower Farmers Market said Tuesday that it will open a new store in Salt Lake City on March 16.

The newest location marks the organic grocery chain’s third in Utah and the 33rd store overall for Sunflower Farmers Market.

Sunflower Farmers Market will open its first California location in April.

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