Stage Stores January Comps Fall 13.1%

Stage Stores, Inc. said total sales for the four-week period ended Jan. 31, 2009 decreased 9.4% to $74.4 million from $82.1 million in the prior year four week period ended Feb. 2, 2008. Comparable store sales for the month decreased 13.1% versus an increase of 1.0% last year.

For the fourth quarter, the company reported that its total sales decreased 3.7% to $455.8 million from $473.1 million in the fourth quarter last year. Comparable store sales for the quarter decreased 7.2% versus a decrease of 3.1% for the prior year period. For the 2008 fiscal year, total sales were $1,515.8 million compared to $1,545.6 million for the 2007 fiscal year. Comparable store sales for the fiscal year decreased 6.1% versus a decrease of 1.1% last year.

Andy Hall, president and CEO, commented, “Sales for the fourth quarter were within our guidance range and we are comfortable with the current analysts’ consensus earnings estimate of 66 cents per diluted share.”

“We have successfully managed our business through the tough economic environment,” he continued. “Our comparable store inventories are down 17%. Additionally, we ended the year with no borrowings on our $250 million revolving credit facility. In fact, our overall debt level is approximately half of what it was a year ago. Looking forward, we believe 2009 will be another challenging year and we will continue to plan and manage our business accordingly.”