After having gone through a pretty tough time over the course of the past week, the stock of off-price home goods and decor retailer Tuesday Morning Corporation (NASDAQ:TUEM) has made a comeback in premarket trading period today.
The stock is up by as much as 12% and that was after having gone through a week during which the stock tanked by 50%. There has been no news about the company in recent days but back on September 9 the company announced its financial results for the fourth quarter and the full fiscal year, both of which ended on June 30, 2021.
In the full fiscal year 2021, the company managed to generate net sales of $690.8 million, which was considerable lower than the $874.9 million that it had generated back in 2020 fiscal year. In the 2021 fiscal year, Tuesday Morning Corporation as many as 197 stores were closed while only two were opened and as of June 30, 2021, the total number of stores stood at 490. In the prior year period, the company had a total of 714 stores. However, the operating losses for the fiscal year were reduced to $49 million from $159.2 million in the 2020 fiscal year.
