Stage Stores Reports August Sales; Comparable Store Sales Increase 1.5%
01 Septembre 2005 - 12:00PM
Business Wire
Stage Stores, Inc. (Nasdaq:STGS) today reported that total sales
for the four-week period ended August 27, 2005 increased 5.2% to
$111.2 million from $105.7 million in the prior year four-week
period ended August 28, 2004. Comparable store sales increased 1.5%
versus an increase of 8.1% last year, which was driven by a
calendar shift in the Texas sales tax holiday weekend from July in
2003 to August in 2004. The Company reported that a majority of its
key merchandise categories achieved comparable store sales
increases during the month, with the best performing areas being
women's special sizes (+14.4%), cosmetics (+7.4%) and accessories
(+5.0%). Jim Scarborough, Chairman, President and Chief Executive
Officer, commented, "Geographically, we had mixed sales results in
August, as our comparable store sales were strong in our eastern
markets, and flat in our southern markets. There is no question
that the hot weather in our southern markets dampened enthusiasm
for our fall products, and also contributed to a later start to
back-to-school shopping. On the other hand, our sales in our
eastern markets were very strong, benefiting from increased
inventory investment and generally favorable weather conditions as
compared to last year." -0- *T SALES SUMMARY -------------
Comparable Store Sales Trend Total Sales % Increase (Decrease) ($
in Millions) ----------------------- ------------------------
Fiscal Period 2005 2004 2005 2004 ------------------- -----------
----------- ----------- ------------ 1st Quarter 4.9% 4.5% $310.1
$289.7 2nd Quarter 7.0 (3.2) 309.5 279.9 August 1.5 8.1 111.2 105.7
Year-To-Date 5.2 1.7 730.7(a) 675.3 (a) Total does not foot due to
rounding. *T New Store Activity The Company stated that it opened
three new Peebles stores, and entered its 30th state during August.
The new stores were opened in Winsted, Connecticut, the Company's
first store in that state, Troy, Alabama and Crossville, Tennessee.
The Company further stated that, due to construction delays at one
location, and the impact of Hurricane Katrina on another location,
it was reducing its projected number of new store openings for the
2005 fiscal year from 38 to 36. Hurricane Katrina The Company
reported that it closed ten stores on Sunday, August 28th, and
closed an additional twelve stores on Monday, August 29th, due to
Hurricane Katrina. As of Wednesday, August 31st, thirteen stores
had not yet reopened for business. Commenting on the hurricane, Mr.
Scarborough said, "Our thoughts and prayers are with the families
that have been impacted by this deadly and destructive storm. As we
have always done in the face of other natural disasters, we will do
all that we can to provide assistance to those in need." About
Stage Stores Stage Stores, Inc. brings nationally recognized brand
name apparel, accessories, cosmetics and footwear for the entire
family to small and mid-size towns and communities through 545
stores located in 30 states. The Company operates under the Bealls,
Palais Royal and Stage names throughout the South Central states,
and under the Peebles name throughout the Mid-Atlantic,
Southeastern and Midwestern states. For more information about
Stage Stores, visit the Company's web site at www.stagestores.com.
"Safe Harbor" Statement This news release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including comments regarding the number of new
stores that the Company plans to open during the 2005 fiscal year.
The Company intends forward-looking terminology such as "believes,"
"expects," "may," "will," "should," "could," "anticipates," "plans"
or similar expressions to identify forward-looking statements. Such
statements are subject to certain risks and uncertainties which
could cause the Company's actual results to differ materially from
those anticipated by the forward-looking statements. These risks
and uncertainties include, but are not limited to, those described
in the Company's Annual Report on Form 10-K as filed with the
Securities and Exchange Commission (the "SEC") on April 28, 2005,
in the Company's Quarterly Reports on Form 10-Q as filed with the
SEC and other factors as may periodically be described in other
Company filings with the SEC.
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