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TUESDAY MORNING CORPORATION REPORTS THIRD QUARTER SALES

 DALLAS, Oct. 7 /PRNewswire/ -- Tuesday Morning Corporation (NASDAQ: TUES) announced today that store sales for the quarter increased 14.1 percent to $32.4 million from $28.4 million last year. The catalog operation which was closed during the second quarter contributed an additional $3.0 million in sales last year. Comparable store sales decreased 2.0 percent during the third quarter of 1993 which included ten additional selling days this year. During the third quarter, Tuesday Morning operated 220 units compared with 175 for 1992. An additional 15 units have been opened for the fourth quarter. Total sales for the nine months ended Sept. 30, 1993, increased 17.3 percent to $104.5 million from $89.1 million a year ago. Comparable store sales for the nine-month period increased 4.0 percent from 1992.
 "We are quite dissatisfied with our comparable store sales decrease in the third quarter. This performance is particularly disappointing considering the additional ten selling days and their related expenses to operate the 220 stores for the extended period," stated Steve Higgins, president. "Further, in this most difficult retail environment, Tuesday Morning will continue to focus on strong cost control measures, distribution and operation improvements, and maintaining a liquid inventory position which will enable us to quickly capitalize on buying opportunities created by this sluggish economic growth period."
 Tuesday Morning is a growing chain of deep-discount closeout gift stores. The stores are open four times a year on an event basis during the retail industry's peak selling seasons. Each location offers thousands of closeout items in categories that include gifts, crystal, luggage, linens, toys and seasonal items such as holiday trim.
 All merchandise is sold at 50 to 80 percent off retail prices, and the company specializes in famous-maker, first quality merchandise which is often found in prestigious department and specialty stores.
 -0- 10/7/93
 /CONTACT: Mark E. Jarvis, chief financial officer and senior vice president of Tuesday Morning, 214-387-3562; or Barbara Buzzell of Laurey Peat + Associates, 214-871-8787/
 (TUES)


CO: Tuesday Morning Corporation ST: Texas IN: REA SU: SLS

LD-GK -- NY002 -- 1258 10/07/93 10:00 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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