Home accessories retailer Tuesday Morning Corp posted a 4 percent fall in its first quarter sales, but forecast a narrower-than-expected quarterly loss.
Credit and housing woes continued to impact the discretionary spending behavior of our customers, Chief Executive Kathleen Mason said.
The company posted a sales of $165.9 million for the quarter. It now sees a loss of 11 cents to 13 cents a share.
Analysts on average were expecting a loss of 14 cents a share, before items, on revenue of $166 million, according to Thomson Reuters I/B/E/S.
Same-store sales fell 6 percent in the quarter.
Shares of the Dallas-based company closed at $4.14 Friday on Nasdaq.
(Reporting by Renju Jose; Editing by Pradeep Kurup)