Michael Marchetti

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

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.