Stage Stores, Inc. reported that total sales for the four-week period ended May 28, 2005 increased 10.4% to $100.0 million from $90.6 million in the prior year four-week period ended May 29, 2004. Comparable store sales increased 7.0% versus an increase of 1.0% last year.
Stage reported that its sales increases were broad based in nature, with most key merchandise categories achieving comparable store sales increases. Merchandise categories with the best comparable store sales performance for the month included women's special sizes (+17.9%), accessories (+15.6%) and men's (+12.7%).
Jim Scarborough, Chairman, President and Chief Executive Officer, commented, “We are very pleased with our strong 7.0% comparable store sales gain during May, which was achieved despite unseasonably cool and wet weather in our eastern markets. Our customers continued to react favorably to our Spring and Summer product offerings, which helped drive our comparable store sales increases throughout the month.”
SALES SUMMARY
Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
Fiscal Period 2005 2004 2005 2004
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1st Quarter 4.9 4.5 $310.1 $289.7
May 7.0 1.0 100.0 90.6
Year-To-Date 5.4 3.7 410.1 380.3
The Company reported that it opened two new stores during May. The two new stores, which were both Peebles stores, were opened in Batesville, Indiana and Carbondale, Pennsylvania. While no new store openings are planned for June, the Company currently anticipates opening five new stores in July.
