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TUEM Tuesday Morning

Tuesday Morning Corp. engages in the sale of upscale decorative home and lifestyle goods. Its portfolio of products includes bath and body, bed, craft supplies, dinning and kitchen, furniture, gifts and more, gourmet food, holiday and party, home decors, luggage, outdoor, pets, small appliances, and toys. The company was founded by Lloyd Ross in 1974 and is headquartered in Dallas, TX.

Company profile

Ticker
TUEM, TUESQ
Exchange
CEO
Steven Becker
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
752398532

TUEM stock data

(
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Calendar

5 Feb 21
13 Apr 21
30 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 126.73M 126.73M 126.73M 126.73M 126.73M 126.73M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 8.99M 8.62M (positive/no burn)
Cash used (since last report) n/a n/a n/a 30.96M 29.68M n/a
Cash remaining n/a n/a n/a 95.78M 97.05M n/a
Runway (months of cash) n/a n/a n/a 10.7 11.3 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Osmium Partners Common Stock Other Dispose J Yes No 0 435,000 0 366,845
1 Apr 21 Osmium Partners Common Stock Other Dispose J Yes No 0 251,000 0 419,094
1 Apr 21 Osmium Partners Common Stock Other Dispose J Yes No 0 142,000 0 1,390,901
9 Feb 21 Phillip D. Hixon Common Stock Aquire X No No 1.1 25,000 27.5K 387,185
9 Feb 21 Phillip D. Hixon Subscription Rights Common Stock Dispose X No No 1.1 25,000 27.5K 0
9 Feb 21 Hamlin Frank M. Common Stock Aquire X No No 1.1 39,392 43.33K 192,067
9 Feb 21 Hamlin Frank M. Subscription Rights Common Stock Dispose X No No 1.1 39,392 43.33K 0
9 Feb 21 Crudele Anthony F Common Stock Aquire X No No 1.1 6,055 6.66K 71,055
9 Feb 21 Crudele Anthony F Subscription Rights(right to buy) Common Stock Dispose X No No 1.1 6,055 6.66K 0
9 Feb 21 Reuben E Slone Common Stock Aquire X No No 1.1 30,275 33.3K 193,271

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Risks
  • Our common stock has been delisted from trading on Nasdaq, and is traded only in the over-the-counter market, which could negatively affect our stock price and liquidity. Additionally, trading in our securities during the pendency of the Chapter 11 Cases is highly speculative and poses substantial risks. Trading prices for the Company’s common stock may bear little or no relationship to the actual recovery, if any, by holders of the Company’s common stock in the Chapter 11 Cases.
  • The pursuit of the Chapter 11 Cases has consumed and will continue to consume a substantial portion of the time and attention of our management, which may have an adverse effect on our business and results of operations, and we may face increased levels of employee attrition.
  • If we are not able to confirm a Chapter 11 plan of reorganization or liquidation or are not able to consummate a sale of the Company or certain of its material assets pursuant to Section 363 of the Bankruptcy Code, we could be required to liquidate under Chapter 7 of the Bankruptcy Code.
  • If we pursue a Chapter 11 plan of reorganization, our post-bankruptcy capital structure is yet to be determined, and any changes to our capital structure may have a material adverse effect on existing debt and security holders.
  • We may be unable to comply with restrictions imposed by our DIP ABL Facility and DIP Term Facility.
  • We have substantial liquidity needs and may not be able to obtain sufficient liquidity during the pendency of the Chapter 11 proceedings or to confirm a plan of reorganization or liquidation.
  • Our financial results may be volatile and may not reflect historical trends.
  • Operating in bankruptcy for a long period of time may harm our business.
  • Outbreaks of communicable disease, or other public health emergencies, such as the current COVID-19 pandemic, could substantially harm our business.
  • Changes in economic and political conditions may adversely affect consumer spending, which could significantly harm our business, results of operations, cash flows and financial condition.
  • Failure to identify and respond to changes in consumer trends and preferences could significantly harm our business.
  • 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.
  • 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.
  • 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.
  • If we are unable to maintain and protect our information technology systems and technologies, we could suffer disruptions in our business, damage to our reputation, increased costs and liability, and obstacles to our growth.
  • An increase in the cost or a disruption in the flow of our imported products may significantly decrease our sales and profits.
  • 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 risks to our corporate reputation from our customers, employees and other third parties.
  • 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.
Management Discussion
  • See Note 1 in the Notes to Consolidated Financial Statements herein for a discussion of restructuring, impairment, and abandonment charges, as well as reorganization items.
  • We define EBITDA as net income or net loss before interest, income taxes, depreciation, and amortization. Adjusted EBITDA reflects further adjustments to EBITDA to eliminate the impact of certain items, including certain non-cash items and other items that we believe are not representative of our core operating performance. These measures are not presentations made in accordance with GAAP. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income or loss as a measure of operating performance. In addition, EBITDA and Adjusted EBITDA are not presented as, and should not be considered as, alternatives to cash flows as a measure of liquidity. EBITDA and Adjusted EBITDA should not be considered in isolation, or as substitutes for analysis of our results as reported under GAAP and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by such adjustments. We believe it is useful for investors to see these EBITDA and Adjusted EBITDA measures that management uses to evaluate our operating performance. These non-GAAP financial measures are included to supplement our financial information presented in accordance with GAAP and because we use these measures to monitor and evaluate the performance of our business as a supplement to GAAP measures and we believe the presentation of these non-GAAP measures enhances investors’ ability to analyze trends in our business and evaluate our performance. EBITDA and Adjusted EBITDA are also frequently used by analysts, investors and other interested parties to evaluate companies in our industry. The non-GAAP measures presented may not be comparable to similarly titled measures used by other companies.
  • Our net sales for the third quarter of fiscal 2020 were significantly negatively impacted by the COVID-19 pandemic. Net sales were $874.9 million in fiscal 2020 compared to $1,007 million in fiscal 2019. On March 25, 2020, we temporarily closed all of our stores nationwide, severely reducing revenues and resulting in significant operating losses and the elimination of substantially all operating cash flow. Comparable store sales decreased 11.8%.  New stores are included in the same store sales calculation starting with the sixteenth month following the date of the store opening.  A store that relocates within the same geographic market or modifies its available retail space is generally considered the same store for purposes of this computation.  All stores that were temporarily closed due to the pandemic continued to be included in the computation of comparable store sales for fiscal 2020, thereby negatively impacting comparable store sales.  The decrease in comparable store sales was comprised of a decrease in customer transactions of 11.5% along with a decrease in average ticket of 0.4%.  Non-comparable store sales decreased by a total of $16.9 million and resulted in a 130 basis point negative impact on net sales.  Non-comparable store sales include the net effect of sales from
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