Stage Stores (NASDAQ:STGS)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Stage Stores Charts. Click Here for more Stage Stores Charts.](/p.php?pid=staticchart&s=N%5ESTGS&p=8&t=15)
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.