Stage Stores (NASDAQ:STGS)
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Stage Stores, Inc. (Nasdaq:STGS) today reported that
total sales for the four-week period ended July 30, 2005 increased
6.1% to $94.5 million from $89.1 million in the prior year four-week
period ended July 31, 2004. Comparable store sales increased 2.4%
versus a decrease of 7.8% last year. The Company noted that its July
2004 comparable store sales results were negatively impacted by a
calendar shift in the Texas sales tax holiday weekend, which moved
this significant event from July in 2003 to August in 2004. The
Company further noted that this year's Texas sales tax holiday weekend
will take place in August just as it did last year.
The Company stated that most of its key merchandise departments
achieved comparable stores sales increases during the month. Of this
group, the top performing categories were women's special sizes
(+15.3%), home decor (+15.2%) and accessories (+14.9%).
For the second quarter ended July 30, 2005, the Company reported
that total sales increased 10.6% to $309.5 million from $279.9 million
last year, while comparable store sales for the quarter increased 7.0%
compared to a decrease of 3.2% in the prior year period.
Jim Scarborough, Chairman, President and Chief Executive Officer,
commented, "We are delighted with the continued strength of our
business. Having just completed a solid second quarter in which our
comparable store sales were up a strong 7.0%, we enter the third
quarter well positioned with exciting new merchandise for the upcoming
back-to-school selling season."
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*T
SALES SUMMARY
Comparable Store Sales Trend Total Sales
Fiscal Period % Increase (Decrease) ($ in Millions)
----------------------------- ----------------------
2005 2004 2005 2004
------------ ------------- ---------- ----------
1st Quarter 4.9% 4.5% $310.1 $289.7
May 7.0 1.0 100.0 90.6
June 11.1 (2.5) 115.0 100.1
July 2.4 (7.8) 94.5 89.1
2nd Quarter 7.0 (3.2) 309.5 279.9 (a)
Year-To-Date 5.9 0.6 619.5 (a) 569.5 (a)
(a) Total does not foot due to rounding.
*T
Mr. Scarborough further commented, "Based on our preliminary
operating results for the second quarter, we currently believe that we
will be at or near the high end of our previously provided earnings
outlook range for the period of $0.26 to $0.30 per diluted share."
The Company plans to report its actual second quarter and
six-months results before the market opens on Thursday, August 18,
2005, and will hold a conference call and webcast the same day
beginning at 8:30 a.m. Eastern Time.
Store Activity
The Company reported that it opened four new Stage stores and one
new Bealls store during July. The new stores were opened in
Clarksville and West Helena, Arkansas, Douglas, Arizona, Floresville,
Texas and Marshall, Missouri.
For the second quarter, a total of seven new stores were opened
and two stores were closed. As a result of the five net new stores
added during the period, the Company ended the quarter with 542
stores.
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 542 stores located in
29 states. The Company operates under the Stage, Bealls and Palais
Royal 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.stagestoresinc.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 outlook and expectations
for the second quarter of 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
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.