Tuesday Morning

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, Texas.

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

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.[2] Tuesday Morning focuses on discount home goods.

In May of 2020, after extended store closures due to the COVID pandemic,[3] the company filed for Chapter 11 bankruptcy[4] 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.[5]  Upon emerging, the company established a new executive leadership team with significant off-price experience.[6] [7] [8][9]On May 25, 2021 the company was re-listed on the NASDAQ stock exchange under TUEM.[10]

References
  1. "Tuesday Morning Corporation Company Profile". www.dnb.com. Retrieved August 20, 2021.
  2. Inc, Tuesday Morning. "Tuesday Morning | Our Story". www.tuesdaymorning.com. Retrieved 2021-10-25.
  3. "TUESDAY MORNING CORPORATION PROVIDES COVID-19 RELATED BUSINESS UPDATE | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  4. "Tuesday Morning Corporation Files Chapter 11 to Pursue Financial and Operational Reorganization | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  5. "Tuesday Morning Announces Confirmation of Plan of Reorganization | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  6. "Tuesday Morning Appoints Experienced Off-Price Retailer, Fred Hand, as Chief Executive Officer | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  7. "Tuesday Morning Appoints Experienced Off-Price Retailer, Marc Katz, as Interim Chief Financial Officer | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  8. "Tuesday Morning fills out its C-suite". Retail Dive. Retrieved 2021-10-25.
  9. "Tuesday Morning Corporation Appoints Paul Metcalf as Acting Chief Merchant | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
  10. "Tuesday Morning Announces Approval to Relist on Nasdaq | Tuesday Morning Corp". ir.tuesdaymorning.com. Retrieved 2021-10-25.
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