Tuesday Morning Corporation is one of the original off-price retailers specializing in name-brand,high-quality products for the home, including upscale home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor, at prices generally below those found in boutique, specialty and department stores, catalogs and on-line retailers. Based in Dallas, Texas, the Company opened its first store in 1974 and currently operates 490 stores in 40 states.

Company profile
Ticker
TUEM
Exchange
Website
CEO
Steven Becker
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Walmart • Target • Costco Wholesale • Dollar General • BJ`s Wholesale Club • Dollar Tree • Big Lots • Ollies Bargain Outlet • Freds • Pricesmart ...
SEC CIK
Corporate docs
Subsidiaries
TMI Holdings, Inc. • Tuesday Morning, Inc. • Friday Morning, LLC • Days of the Week, Inc. • Nights of the Week, Inc. • Tuesday Morning Partners, Ltd. ...
IRS number
752398532
TUEM stock data
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Analyst ratings and price targets
Calendar
12 May 22
18 Aug 22
30 Jun 23
Financial summary
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Annual (USD) | Jun 21 | Jun 20 | Jun 19 | Jun 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 8.46M | 8.46M | 8.46M | 8.46M | 8.46M | 8.46M |
Cash burn (monthly) | (no burn) | 4.45M | 6.03M | 4.05M | 10.12M | 8.43M |
Cash used (since last report) | n/a | 20.26M | 27.43M | 18.42M | 46.08M | 38.37M |
Cash remaining | n/a | -11.81M | -18.98M | -9.97M | -37.62M | -29.91M |
Runway (months of cash) | n/a | -2.7 | -3.1 | -2.5 | -3.7 | -3.5 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
19 May 22 | Hand Fred | Common Stock | Payment of exercise | Dispose F | No | No | 0.5951 | 148,205 | 88.2K | 3,905,074 |
30 Mar 22 | Paul Metcalf | Common Stock | Payment of exercise | Dispose F | No | No | 1.15 | 14,455 | 16.62K | 1,502,143 |
21 Jan 22 | Bridgett C. Zeterberg | Common Stock | Payment of exercise | Dispose F | No | No | 1.8 | 14,454 | 26.02K | 503,978 |
20 Jan 22 | Marcelo Podesta | Common Stock | Grant | Acquire A | No | No | 0 | 29,091 | 0 | 29,091 |
Institutional ownership, Q2 2022
86.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 54 |
Opened positions | 9 |
Closed positions | 9 |
Increased positions | 10 |
Reduced positions | 11 |
13F shares | Current |
---|---|
Total value | 26.75M |
Total shares | 74.31M |
Total puts | 0 |
Total calls | 35.4K |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Osmium Partners | 22.24M | $8.01M |
Tensile Capital Management | 20.16M | $7.26M |
Greenhouse Funds LLLP | 6.23M | $2.24M |
Adage Capital Partners GP, L.L.C. | 4.14M | $1.49M |
Archon Capital Management | 3.77M | $1.36M |
Grace & White | 3.15M | $1.13M |
Long Focus Capital Management | 2.98M | $1.07M |
Vanguard | 2.44M | $876K |
Empirical Capital Management | 1.45M | $521K |
First Manhattan | 1.25M | $450K |
Financial report summary
?Risks
- Increases in fuel prices and changes in transportation industry regulations or conditions may increase our freight costs and thus our cost of sales, which could have a material adverse effect on our business and operations.
- An increase in the cost or a disruption in the flow of our imported products may significantly decrease our sales and profits.
- Our results of operations will be negatively affected if we are unsuccessful in effectively managing our supply chain operations.
- The loss of, disruption in operations of, or increased costs in the operation of our distribution center facilities would have a material adverse effect on our business and operations.
- Failure to identify and respond to changes in consumer trends and preferences could significantly harm our business.
- Our sales depend on a volume of traffic to our stores, and a reduction in traffic to, or the closing of, anchor tenants and other destination retailers in the shopping centers in which our stores are located could significantly reduce our sales and leave us with excess inventory.
- We must continuously attract buying opportunities for off‑price merchandise and anticipate consumer demand as off‑price merchandise becomes available, and our failure to do so could adversely affect our performance.
- Our results of operations will be negatively affected if we are not successful in managing our inventory profitably.
- The unplanned loss or departure of one or more members of our senior management or other key management could have a material adverse effect on our business.
- Our business is intensely competitive, and a number of different competitive factors could have a material adverse effect on our business, results of operations, cash flows and financial condition.
- Changes to federal tax policy may adversely impact our operations and financial performance.
- If we do not attract, train and retain quality employees in appropriate numbers, including key employees and management, our performance could be adversely affected.
- Our results of operations are subject to seasonal and quarterly fluctuations, which could have a material adverse effect on our operating results or the market price of our common stock.
- If we fail to protect the security of information about our business and our customers, suppliers, business partners and employees, we could damage our reputation and our business, incur substantial additional costs and become subject to litigation and government investigations and enforcement actions.
- We are subject to various government regulations, changes in the existing laws and regulations and new laws and regulations which may adversely affect our operations and financial performance.
- We face litigation risks from customers, employees, and other third parties in the ordinary course of business.
- We face risks with respect to product liability claims and product recalls, which could adversely affect our reputation, our business, and our consolidated results of operations.
- Our stores may be adversely affected by local conditions, natural disasters, and other events.
- Our results of operations may be negatively affected by inventory shrinkage.
- Our results of operations may be negatively impacted by exposure to unexpected costs related to our insurance programs.
- We are subject to customer payment-related risks that could increase operating costs or exposure to fraud or theft, subject us to potential liability and potentially disrupt our business.
- Our common stock is subject to ownership and transfer restrictions intended to preserve our ability to use our net operating loss carryforwards and other tax attributes.
Management Discussion
- Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- We are one of the original off-price retailers and a leading destination for unique home and lifestyle goods, selling high-quality products at prices generally below those found in boutique, specialty and department stores, catalogs and on-line retailers. Our customers come to us for an ever-changing, exceptional assortment of brand names at great prices. Our strong value proposition has established a loyal customer base, who we engage regularly with social media, email, direct mail and digital media.
- The COVID-19 pandemic has had an adverse effect on our business operations, store traffic, employee availability, financial conditions, results of operations, liquidity and cash flow. On March 25, 2020, we temporarily closed all of our 687 stores nationwide, severely reducing revenues and resulting in significant operating losses and the elimination of substantially all operating cash flow. As allowed by state and local jurisdictions, 685 of our stores gradually reopened as of the end of June 2020. Two stores were permanently closed during the fourth quarter 2020. In accordance with our bankruptcy plan of reorganization, described below, we completed the permanent closure of 197 stores in the first quarter of 2021 and the closure of our Phoenix distribution center in second quarter of 2021. In addition, as part of our restructuring, we secured financing to pay creditors in accordance with the plan of reorganization and to fund planned operations and expenditures.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
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Readability |
Coll freshman Avg
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New words:
accordion, added, assigned, automatically, bore, cancelled, Cap, closest, Codification, Consenting, deceleration, delivery, divided, Europe, failure, fell, FILO, floor, foregoing, forgive, greatest, imposed, inflation, inflationary, Intermediate, lapping, National, occupancy, outlined, Overnight, owed, Parent, prime, prospective, prospectively, refinancing, relied, repay, request, Saturday, set, shift, SOFR, sublimit, subsidiary, thereunder, thousand, TMI, topline
Removed:
construction, renegotiated, smaller
Financial reports
Current reports
8-K
Tuesday Morning Announces CFO Transition
29 Jul 22
8-K
Entry into a Material Definitive Agreement
15 Jul 22
8-K
Departure of Directors or Certain Officers
6 Jul 22
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
10 Jun 22
8-K
Announces Third Quarter Fiscal 2022 Results
12 May 22
8-K
Amendments to Articles of Incorporation or Bylaws
1 Mar 22
8-K
Announces Second Quarter Fiscal 2022 Results
3 Feb 22
8-K
Changes in Registrant's Certifying Accountant
3 Jan 22
8-K
Tuesday Morning Appoints Marcelo Podesta as Independent Director
14 Dec 21
8-K
Submission of Matters to a Vote of Security Holders
18 Nov 21
Registration and prospectus
S-8
Registration of securities for employees
15 Sep 21
424B3
Prospectus supplement
15 Jun 21
S-1/A
IPO registration (amended)
7 Jun 21
8-A12B
Registration of securities on exchange
24 May 21
S-1
IPO registration
20 May 21
S-8
Registration of securities for employees
19 May 21
S-8
Registration of securities for employees
19 May 21
25-NSE
Exchange delisting
1 Jul 20
S-8
Registration of securities for employees
1 Dec 16
S-8
Registration of securities for employees
4 Dec 14
Proxies
DEFA14A
Additional proxy soliciting materials
5 Oct 21
DEFA14A
Additional proxy soliciting materials
7 Oct 19
DEFA14A
Additional proxy soliciting materials
19 Oct 18
DEF 14A
Definitive proxy
4 Oct 17
DEFA14A
Additional proxy soliciting materials
4 Oct 17
DEFA14A
Additional proxy soliciting materials
1 Oct 17
DEFA14A
Additional proxy soliciting materials
1 Oct 17
Other
EFFECT
Notice of effectiveness
15 Jun 21
CORRESP
Correspondence with SEC
9 Jun 21
UPLOAD
Letter from SEC
26 May 21
CERT
Certification of approval for exchange listing
24 May 21
UPLOAD
Letter from SEC
26 Jan 10
CORRESP
Correspondence with SEC
21 Jan 10
UPLOAD
Letter from SEC
7 Jan 10
EFFECT
Notice of effectiveness
13 May 08
CORRESP
Correspondence with SEC
11 May 08
UPLOAD
Letter from SEC
24 Apr 08
Ownership
4
TUESDAY MORNING / Fred Hand ownership change
23 May 22
4
TUESDAY MORNING / Paul Metcalf ownership change
31 Mar 22
SC 13G
TUESDAY MORNING / Greenhouse Funds LLLP ownership change
14 Feb 22
SC 13G/A
TUESDAY MORNING / ADAGE CAPITAL PARTNERS GP, L.L.C. ownership change
10 Feb 22
4
TUESDAY MORNING / Bridgett C. Zeterberg ownership change
25 Jan 22
4
TUESDAY MORNING / Marcelo Podesta ownership change
21 Jan 22
3
TUESDAY MORNING / Marcelo Podesta ownership change
20 Jan 22
SC 13G
TUESDAY MORNING / ADAGE CAPITAL PARTNERS GP, L.L.C. ownership change
9 Dec 21
4
TUESDAY MORNING / Douglas J Dossey ownership change
18 Nov 21
4
TUESDAY MORNING / William Paul Jones ownership change
18 Nov 21
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