DALLAS—Tuesday Morning Corp., a closeout retailer of home furnishings and housewares, said Thursday that same-store sales for the second quarter of fiscal 2008 fell 7.6 percent because of a drop in customer traffic.
Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
Tuesday Morning attributed the same-store sales shortfall to a 7.2 percent drop in traffic and a slight decrease in average ticket of less than 1 percent.
Net sales for the second quarter fell 3.9 percent to $308.7 million, from $321.3 million in the prior-year period.
For the six months ended Dec. 31, the company's same-store sales fell 5.3 percent because of a 4.7 percent decrease in traffic. Average ticket also declined by less than 1 percent.
Net sales for the six-month period dipped about 1 percent to $510.3 million, from $515.7 million.
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