Tuesday Morning to close 16 of its discount stores

Discount store company Tuesday Morning plans to close 16 of its Colorado locations this year.

The shutterings are part of a nationwide sweep of Tuesday Morning store closures, with a total of more than 250 planned, according to the corporate website.

The corporation, headquartered in Dallas, underwent a series of structural changes at the end of last year.

Andrew Berger took over the role of CEO in November after his predecessor Fred Hand opted to retire. Two other top executives also made the decisions to retire at the same time.

The first quarter of fiscal year 2023 saw dismal results for the company, as store sales fell about 10% compared to that same period in 2022.

Net sales slumped to about $157 million for 2023’s first quarter when it previously sat at almost $177 million the year prior.

At the end of December, Tuesday Morning leadership voluntarily delisted its stock from the Nasdaq “following careful consideration of its current financial situation,” a Dec. 23 news release stated. Since then, no follow-up news releases have been posted to the company’s investor website.

Tuesday Morning’s first location was established in 1974. As of Nov. 4, it operated almost 500 stores across 40 states.

Everything will go on sale at the closing sites, with products already touted as low-cost.

Its departments range from bathroom and bedding to kitchen and home office.

A spokesperson for Tuesday Morning didn’t immediately respond to a request for further comment on Friday.

Outposts in 38 states will be impacted by the closings.

— The Denver Post