Stage Stores, Inc. reported that its total sales for the five week June period ended July 3, 2010 increased 1.3% to $129 million from $128 million in the prior year five week period ended July 4, 2009. Comparable store sales decreased 1.2%.
Accessories, children's, dresses, footwear, intimate apparel, juniors and swimwear achieved comparable store sales increases during June. With regard to regions of the country, the Mid Atlantic, Midwest, Northeast, Southeast and Southwest all had comparable store sales gains during the month. The South Central was the Company's weakest region with negative comparable store sales in Texas and Louisiana.
SALES SUMMARY
Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
------------------------ ----------
Fiscal Period 2010 2009 2010 2009
-------------------- ----- ------ ---- -----
1st Quarter (0.6) (9.0) 340 333
May (2.9) (7.2) 116 117
June (1.2) (12.6) 129 128
2nd Qtr-To-Date (2.0) (10.1) 245 245
Year-To-Date (5 Mos) (1.2) (9.5) 585 578
Andy Hall, President and Chief Executive Officer, commented, “We had diverse results geographically during June. Eight of our top ten
volume states had positive comparable store sales during the month. These results, however, were more than offset by negative comps in Texas and Louisiana, our two largest states.”
Store Activity
No stores were opened during June. The Company plans to open two new Goody's stores and reopen its Yazoo City, MS tornado-damaged store in July.
Stage Stores operates 774 stores located in 39 states. The company operates its stores under the five names of Bealls, Goody's, Palais Royal, Peebles and Stage.
