RTTNews | Sep 9, 2021 08:29AM EDT

08:29 Thursday, September 9, 2021 (RTTNews.com) - Off-price retailer Tuesday Morning Corp. (TUES), which emerged from Bankruptcy in April, provided Thursday condensed operation results for the fourth quarter of fiscal 2021 for the lack of comparability to the fourth quarter of fiscal 2020, due to actions related to bankruptcy filing as well as the impact from temporary store and distribution center closures related to Covid-19.

The company added that fourth quarter fiscal 2019 financial results are also difficult to compare with fiscal 2021 due to the significant reduction in store count.

For the fourth quarter, the company reported a net loss of $18.86 million or $0.22 per share, sharply narrower than $136.60 million or $3.01 per share in the prior-year quarter. Net sales for the quarter grew to $177.27 million from $160.34 million in the same quarter last year.

As of the end of the fourth quarter, the Company operated 490 stores compared to 714 stores at the end of the fourth quarter fiscal 2019.

Looking ahead to the first quarter of fiscal 2022, comparable store sales are up low single digits quarter-to-date compared to the similar period in fiscal 2020.

Due to the continued uncertainty of the current environment, the Company is not providing financial guidance.

In addition, the Company announced the appointment of Marc Katz as Principal and Chief Operating Officer, Jennifer Robinson as Chief Financial Officer and Bill Baumann as Chief Information Officer.

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