Thus far this year, the company has opened 15 net new stores, opening 27 units while closing 12. Plans for next year call for expanding 25 existing stores and relocating 50 units, in addition to the new stores.
"For 2008, we will pursue store expansion and relocations opportunities in our existing base, as well as opening new stores," said Kathleen Mason, president and CEO. About 75% of the new units will be in the company's core markets in the Southwest, Southeast and West Coast.
Net sales for the quarter were $219.4 million, up 5.6% over the same period last year. Comparable store sales rose 0.1%. Net income for the quarter was $2 million, compared to $2.9 million last year.
Tuesday Morning operates 810 stores in 47 states during periodic "sale events."
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