DALLAS, Sept. 28, 2017 /PRNewswire/ -- Tuesday Morning
Corporation (NASDAQ:TUES), one of the original off-price retailers currently with over 720 stores across the United States specializing in name-brand, better/best products for the home selling luxury home
textiles, home furnishings, housewares and seasonal décor, reaffirmed its previously issued outlook for fiscal 2018 in
conjunction with management's investor meetings at the B. Riley Consumer Conference in New York
City today. This includes an expected increase in comparable store sales in the range of 2% to 5% and a significant
improvement in EBITDA. The Company also expects an increase in comparable store sales for its fiscal first quarter, which
ends September 30th, 2017, in the same 2%-5% range including the impact of the recent
hurricanes.
Steven Becker, CEO of Tuesday Morning said, "We are pleased with the current trend of our
business despite the impact of hurricanes within our first fiscal quarter. With the continued operational improvements we
are making across our supply chain, the ongoing successful repositioning of our real estate portfolio, our focus on improving our
product assortment and increasing the effectiveness of our marketing dollars, as well as our disciplined cost and working capital
management, we are on the path to delivering a significant improvement in EBITDA for fiscal 2018."
About Tuesday Morning
Tuesday Morning Corporation (NASDAQ:TUES) is a leading off-price retailer specializing in selling deeply-discounted, upscale
decorative home accessories, housewares, seasonal goods and famous-maker gifts. The Company is nationally known for providing a
fresh selection of brand-name, high-quality merchandise - never seconds or irregulars - at prices well below those of department
and specialty stores, catalogs and online retailers. Based in Dallas, Texas, the Company opened
its first store in 1974 and currently operates over 720 stores in 40 states. More information and a list of store locations may
be found on our website at www.tuesdaymorning.com.
MEDIA CONTACT:
Jonathan Morgan
Natalie Brandt
Perry Street Communications
jmorgan@perryst.com
nbrandt@perryst.com
214-965-9955
INVESTOR RELATIONS CONTACT
Farah Soi / Caitlin Morahan
ICR, Inc.
Farah.Soi@icrinc.com
Caitlin.Morahan@icrinc.com
203-682-8200
Important Additional Information and Where to Find I t
The Company, its directors and certain of its executive officers and employees may be deemed to be participants in the
solicitation of proxies from stockholders in connection with the Company's 2017 Annual Meeting of Stockholders (the "2017 Annual
Meeting"). On September 25, 2017, the Company filed a preliminary proxy statement with the U.S.
Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies for the 2017 Annual Meeting. Prior
to the 2017 Annual Meeting, the Company will furnish a definitive proxy statement to its stockholders (the "2017 Proxy
Statement"), together with a WHITE proxy card. STOCKHOLDERS ARE URGED TO READ THE 2017 PROXY STATEMENT (INCLUDING ANY
AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC CAREFULLY IN THEIR
ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Additional information regarding the
identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, is set forth
in the preliminary proxy statement for the 2017 Annual Meeting and will be set forth in the 2017 Proxy Statement and other
materials to be filed with the SEC in connection with the 2017 Annual Meeting.
Stockholders will be able to obtain, free of charge, copies of the 2017 Proxy Statement, any amendments or supplements thereto
and any other documents (including the WHITE proxy card) when filed by the Company with the SEC in connection with the 2017
Annual Meeting at the SEC's website (http://www.sec.gov), at the
Company's website (http://ir.tuesdaymorning.com/) or
by contacting the Company's Secretary, Bridgett C. Zeterberg by phone at (972) 387-3562, by email
at bzeterberg@tuesdaymorning.com or by mail at
Tuesday Morning Corporation, Attn: Corporate Secretary, 6250 LBJ Freeway, Dallas, Texas 75240.
In addition, copies of the proxy materials, when available, may be requested from the Company's proxy solicitor, Okapi Partners,
LLC at (212) 297-0720 or toll-free at (855) 208-8903.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, which are based on management's current expectations, estimates and
projections. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should,"
"expect," "anticipate," "believe," "estimate," "intend" and similar words, although some forward-looking statements are expressed
differently. You should carefully consider statements that contain these words or words that state other "forward-looking"
information because they describe our current expectations, plans, strategies and goals and our current beliefs concerning future
business conditions, future results of operations, future financial position, and our current business outlook.
Forward-looking statements in this press release include, but are not limited to, statements of management's current plans and
expectations in this press release.
Reference is hereby made to the Company's filings with the Securities and Exchange Commission, including, but not limited to,
"Cautionary Statement Regarding Forward-Looking Statements" and "Item 1A. Risk Factors" of the Company's most recent Annual
Report on Form 10-K, for examples of risks, uncertainties and events that could cause our actual results to differ materially
from the expectations expressed in our forward-looking statements. These risks, uncertainties and events include, but are not
limited to, the following: our ability to successfully implement our long-term business strategy; changes in economic and
political conditions which may adversely affect consumer spending; our failure to identify and respond to changes in consumer
trends and preferences; our ability to continuously attract buying opportunities for off-price merchandise and anticipate
consumer demand; our ability to successfully manage our inventory balances profitably; our ability to effectively manage our
supply chain operations; loss of, disruption in operations, or increased costs in the operation of our distribution center
facilities; unplanned loss or departure of one or more members of our senior management or other key management; increased or new
competition; our ability to successfully execute our strategy of opening new stores and relocating and expanding existing stores;
increases in fuel prices and changes in transportation industry regulations or conditions; our ability to generate strong cash
flows from operations and to continue to access credit markets; increases in the cost or a disruption in the flow of our imported
products; changes in federal tax policy; the success of our marketing, advertising and promotional efforts; our ability to
attract, train and retain quality employees in appropriate numbers, including key employees and management; increased variability
due to seasonal and quarterly fluctuations; our ability to maintain and protect our information technology systems and
technologies and related improvements to support our growth; our ability to protect the security of information about our
business and our customers, suppliers, business partners and employees; our ability to comply with existing, changing, and new
government regulations; our ability to manage litigation risks from our customers, employees and other third parties; our ability
to manage risks associated with product liability claims and product recalls; the impact of adverse local conditions, natural
disasters and other events; our ability to manage the negative effects of inventory shrinkage; our ability to manage exposure to
unexpected costs related to our insurance programs; our ability to mitigate reductions of customer traffic in shopping centers
where our stores are located; and increased costs or exposure to fraud or theft resulting from payment card industry related risk
and regulations. The Company's filings with the SEC are available at the SEC's web site at www.sec.gov.
The forward-looking statements made in this press release relate only to events as of the date on which the statements were
made. Except as may be required by law, the Company disclaims obligations to update its forward-looking statements to reflect
events and circumstances after the date on which the statements were made or to reflect the occurrence of unanticipated
events. Investors are cautioned not to place undue reliance on any forward-looking statements.
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SOURCE Tuesday Morning Corporation