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Tuesday Morning Q4 Comps. Up 0.7%; FY20 Comps. To Rise In Low Single Digits

Tuesday Morning Corp. (TUES) said its fourth-quarter comparable store sales performance was slightly better than expected and driven by strong transaction growth of 3.1 percent. Adjusted EBITDA was negative $4.0 million, compared to adjusted EBITDA of negative $2.0 million for the prior year period.

For the fourth-quarter, net loss was $12.0 million, or $0.27 per share, compared to a net loss of $10.3 million, or $0.23 per share, a year ago. Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.30, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales were $230.5 million, flat with prior year. Analysts expected revenue of $225.53 million for the quarter. Comparable store sales increased 0.7 percent, for the quarter.

For fiscal 2020, the company currently expects comparable store sales to increase in the low single digits. Meaningful improvement in EBITDA is projected for the fiscal year.

Shares of Tuesday Morning Corp. were up more than 8 percent in pre-market trade on Thursday.

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