November Comps Climb 6% at Stage Stores

Stage Stores total sales for the four-week period
ended November 27, 2004 increased 8.0% to $103.8 million from $96.1 million in the prior year four-week period ended November 29, 2003. Comparable store sales increased 6.0% versus a decrease of 5.8% last year.

Jim Scarborough, Chairman, President and Chief Executive Officer,
stated, “We are pleased with our 6.0% comparable store sales increase
for November, which benefited from our merchandise selections and
generally cooler temperatures throughout much of our market area
versus last year. We experienced positive comparable store sales
increases throughout the month, and most of our categories of business
achieved comparable store sales gains. Our women’s special sizes had
an outstanding November with a 21.5% sales increase, followed by
children’s at 11.9% and footwear at 10.5%.”

Mr. Scarborough concluded, “Our November sales performance gets us
off to a good start on the upcoming holiday shopping period, and
clearly demonstrates that our customers are coming to Bealls, Palais
Royal, Peebles and Stage stores to fulfill their holiday shopping and
gift-giving needs.”

                             SALES SUMMARY
----------------------------------------------------------------------
                   Comparable Store Sales Trend       Total Sales
                      % Increase (Decrease)         ($ in Millions)
                      ---------------------         ---------------
   Fiscal Period               2004       2003       2004     2003
   -------------               ----       ----       ----     ----
      1st Quarter             4.5 %     (6.8)%(a)   $289.7    $198.0
      2nd Quarter            (3.2)      (2.4) (a)    279.9     207.7
      3rd Quarter             4.3       (6.0) (a)    285.3     197.9
        November              6.0       (5.8)        103.8      96.1
      Year-To-Date            2.2       (5.1) (a)    958.7     699.7

 (a) Actual results are restated to include Peebles comparable store
sales.

During November, the Company opened new Peebles stores in Angola,
IN, Bridgeton, NJ, Exmore, VA, Mt. Pleasant, PA, Moundsville, WV and
St. Albans, VT. The Company also opened new Stage stores in Chalmette,
LA, Marksville, LA and Thatcher, AZ during the month. These nine
November openings completed the Company’s fiscal 2004 store-opening
program, under which twenty-two new stores were opened and two new
states were entered.