Tuesday Morning

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This article is about the store chain. For other uses, see Tuesday Morning (disambiguation).
Tuesday Morning Corporation
TypePublic
OTCQX: TUEM
IndustryRetail
Founded1974; 48 years ago (1974)
FounderLloyd Ross
Headquarters
Dallas, Texas
,
U.S.
Number of locations
490[1]
Area served
United States
Key people
  • Fred Hand (CEO)
ProductsGifts and home accessories
RevenueIncrease US$874.89 million (FY 2015)[1]
Number of employees
7,500 (2020)[1]
Websitewww.tuesdaymorning.com

Tuesday Morning Corporation is one of the original US off-price retailers of home and lifestyle goods. The company specializes in name-brand merchandise for the home priced below department and specialty stores. The company is headquartered in Dallas.[2]

History[]

Tuesday Morning was established in 1974 by Lloyd Ross. Ross worked with big-name manufacturers to buy their excess merchandise and host limited-time warehouse sales to offer these goods at a discount to the public. The company moved to a pop up retail location in 1979 with seasonal events. The company went to full-time retail operations in 1979 and went public in 1984 with 57 stores. At its peak in 2018, the company operated over 700 locations and had sales of over $1 billion.[3] Tuesday Morning focuses on discount home goods.

In May of 2020, after extended store closures due to the COVID-19 pandemic,[4] the company filed for Chapter 11 bankruptcy[5] reorganization and was delisted from the American Stock Exchange. During the reorganization process the company closed close to 200 unprofitable store locations and a distribution center.  

In December of 2020, the company emerged from bankruptcy with a rights offering, enabling the ability to pay all vendor claims in full and protect of shareholder value.[6]  Upon emerging, the company established a new executive leadership team with significant off-price experience.[7] [8] [9][10]On May 25, 2021 the company was re-listed on the NASDAQ stock exchange under TUEM.[11]

References[]

  1. ^ a b c "Tuesday Morning Corporation Company Profile". www.dnb.com. Retrieved August 20, 2021.
  2. ^ "Contact Us". Tuesday Morning. Retrieved 2022-02-01. Our corporate office is located at 6250 LBJ Freeway, Dallas, Texas 75240-6321
  3. ^ Inc, Tuesday Morning. "Tuesday Morning | Our Story". www.tuesdaymorning.com. Retrieved 2021-10-25.
  4. ^ "TUESDAY MORNING CORPORATION PROVIDES COVID-19 RELATED BUSINESS UPDATE | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  5. ^ "Tuesday Morning Corporation Files Chapter 11 to Pursue Financial and Operational Reorganization | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  6. ^ "Tuesday Morning Announces Confirmation of Plan of Reorganization | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  7. ^ "Tuesday Morning Appoints Experienced Off-Price Retailer, Fred Hand, as Chief Executive Officer | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  8. ^ "Tuesday Morning Appoints Experienced Off-Price Retailer, Marc Katz, as Interim Chief Financial Officer | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  9. ^ "Tuesday Morning fills out its C-suite". Retail Dive. Retrieved 2021-10-25.
  10. ^ "Tuesday Morning Corporation Appoints Paul Metcalf as Acting Chief Merchant | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  11. ^ "Tuesday Morning Announces Approval to Relist on Nasdaq | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.

External links[]

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