Tuesday Morning Corporation Revises Fiscal 2011 Annual Guidance

Tuesday Morning Corporation TUES today announced revised guidance for the fiscal year ending June 30, 2011. Total net sales for the year ending June 30, 2011 are now expected to be in the range of $820 million to $830 million and comparable store sales are expected to be slightly negative for the full year of fiscal 2011. Diluted earnings, based on these sales results, are now expected to be approximately $0.25 to $0.30 per share for fiscal 2011. "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 Chief Executive Officer. "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."