Well known off-price retailer of home decor and home goods Tuesday Morning (NASDAQ:TUEM) saw its stock make a strong recovery on Friday after having declined recently. The stock went up by as much as 28% and emerged as one that could be watched closely today.
Yesterday, the stock was in focus after the company announced that it appointed a new Principal and Chief Merchant in the form of Paul Metcalf. The appointed had been made effective on September 14, 2021. It seems that the new appointment came as a source of new optimism for investors and that was reflected in the price action in the Tuesday Morning stock yesterday.
In this regard, it should be noted that Metcalf is a well known and well regarded merchant leader in the off price space and boasts of an excellent track record when it comes to the generation of financial growth in retail businesses.
The Chief Executive Officer of the company Fred Hand spoke about the new appointment as well. He stated that he was pleased to now have Metcalf as a permanent member of the company and went on to call him an ‘exceptional’ merchant in this particular space.
