After years of declining sales and "messy" stores, a Dallas-based discount retailer is back in a big way. Tuesday Morning nearly went away for good, but with the stock now rising the CEO is spilling the secrets on how the closeout retailer turned things around.
With sagging sales, Tuesday Morning's Chairman of the Board Steven Becker plucked 76-year-old Michael Rouleau from retirement and tapped him to lead the chain of nearly 800 off-price stores.
Rouleau, who helped launch Target and turned around Michael's, said when he took over Tuesday Morning two years ago the business was a mess.
“The merchandise content wasn't good, they had taken different strategy, the stores were not maintained, there was no work ethic in the stores, employees were all standing around looking at the mess and our business was going right down the tubes," Rouleau said.
Rouleau's first move was to lure seven other managers out of retirement and to put them into key positions at Tuesday Morning, all of whom he had worked with rebuilding Michael’s.
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