Exhibit 11.1 Tuesday Morning Corporation Ratio of Earnings to Fixed Charges Pro Forma Twelve Months Year Ended December 31 Ended -------------------------------------------------------- December 31 1992 1993 1994 1995 1996 1997 1997 ------ ------- ------ ------ ------ ------ ------------- Earnings 10,215 (2,572) 4,016 7,264 18,508 (318) 6,934 ------------------------------------------------------------------------- Interest on debt 771 1,689 2,289 3,063 2,589 3,190 25,331 Interest on capitalized leases 169 267 178 82 82 Interest on operating leases 2,803 3,564 3,927 4,192 4,656 5,798 5,798 ------------------------------------------------------------------------- Total 3,574 5,253 6,385 7,522 7,423 9,070 31,211 ------------------------------------------------------------------------- Total available gross income 13,789 2,681 10,401 14,786 25,931 8,752 38,145 ========================================================================= ------------------------------------------------------------------------- Ratio | 3.9 0.5 1.6 2.0 3.5 1.0 1.2 | -------------------------------------------------------------------------