In June, Kathleen Mason
lost her job as the CEO of Tuesday Morning, a home-furnishings chain. Now, she's claiming it's because her bosses found out she has breast cancer. Mason was ousted on June 5, shortly after the investment firm Becker Drapkin Management — which owns 5 percent of Tuesday Morning's common stock — wrote to Tuesday Morning's board of directors criticizing Mason's performance as chief executive....
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Tuesday Morning Ousts Kathleen Mason as CEO
June 8, 2012
Tuesday Morning Corp. has ushered out its current CEO and is on the hunt for a new one, the discount retailer said Wednesday. It also announced several other management changes and lowered its guidance, which sent its shares plunging in after-hours trading.The company said that it relieved Kathleen Mason of her duties as president and CEO on Tuesday. She was appointed to the post in 2000.Michael Marchetti, 55, who is its executive vice president and chief operating officer, was promoted to president and chief operating officer. He will also serve as interim CEO.
Tuesday Morning expects to narrow loss in Q4
July 10, 2012
From Retailing Today
DALLAS — Tuesday Morning reported net sales for the fourth quarter ended June 30 of $196.4 million compared with $194.8 million for the quarter ended June 30, 2011, an increase of 0.8%. Comparable-store sales for the quarter ended June 30 increased by 0.2% compared with the same period last year, which was comprised of a 2.7% decrease in traffic and a 2.9% increase in ticket. For the fiscal year ended June 30, 2012, net sales were $812.8 million compared with $821.1 million for fiscal 2011. Comparable-store sales for the fiscal year ended June 30 decreased 3.1% compared with fiscal