Stage Stores (NASDAQ:STGS)
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Stage Stores, Inc. (Nasdaq:STGS) today reported that
total sales for the four-week period ended February 25, 2006,
increased 0.9% to $93.1 million from $92.3 million in the prior year
four-week period ended February 26, 2005. Comparable store sales
decreased 0.9% versus an increase of 3.7% last year.
With regard to its major categories of business, the Company
reported that its accessories, cosmetics, men's, women's special sizes
and young men's departments all had comparable store sales increases
during February.
Jim Scarborough, Chairman and Chief Executive Officer, commented,
"Our February sales results are reflective of the erratic weather
patterns that we experienced in our various geographic market areas
throughout the month. With temperatures ranging from above normal at
times to below normal at other times, and with severe winter
precipitation affecting our traffic patterns, it was difficult for us
to get any consistency from week to week in the sales of either our
winter clearance goods, or our early spring merchandise."
Mr. Scarborough continued, "Looking forward, we expect that our
comparable store sales results for March will be negatively impacted
by the Easter calendar shift from March 27th last year to April 16th
this year. Accordingly, we expect that our sales results for April
will benefit from this calendar shift. For the first quarter, we are
currently projecting our overall comparable store sales increase to be
in the low single digit range."
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SALES SUMMARY
Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
--------------------- ---------------
Fiscal Period 2006 2005 2006 2005
------------- ---- ---- ---- ----
February (0.9)% 3.7% $93.1 $92.3
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Store Activity
On February 27, 2006, the Company purchased B.C. Moore & Sons,
Inc., and acquired 78 retail locations located in small markets
throughout Alabama, Georgia, North Carolina and South Carolina.
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. The Company currently
operates 376 Bealls, Palais Royal and Stage stores throughout the
South Central states, and operates 174 Peebles stores throughout the
Midwestern, Southeastern, Mid-Atlantic and New England states. On
February 27, 2006, the Company purchased B.C. Moore & Sons, Inc., and
acquired 78 retail locations. The Company currently plans to convert
69 of the acquired stores to its Peebles name and format, in phases,
beginning in mid July. 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 Company's comparable store sales
outlook for the first quarter of the 2006 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
Report on Form 10-Q as filed with the SEC and other factors as may
periodically be described in other Company filings with the SEC.