Stage Stores, Inc. reported that its total sales for the four week April period ended May 1, 2010 decreased 5.8% to $101 million from $108 million in the prior year four week period ended May 2, 2009. Comparable store sales decreased 8.3% this year versus a decrease of 1.5% last year.
For the nine week March and April period, which eliminates the impact of the Easter calendar shift, total sales increased 3.7% to $241 million from $233 million in the same period last year. Comparable store sales during the nine week period increased 0.8% this year versus a decrease of 9.2% last year.
With regard to its major categories of business, during the nine week March and April period, the Company achieved comparable store sales increases in accessories, children’s, cosmetics, footwear, intimates, junior’s, petites and young men’s. Geographically, the Southeast was the Company’s best performing region and the South Central was its weakest
Andy Hall, President and Chief Executive Officer, commented, “We are pleased with our 0.8% comparable store sales increase for the nine
week March and April period. Total first quarter sales exceeded the
high end of our guidance range due to the strength of our new store sales performance and the nine week March and April positive comparable store sales. Based on our sales performance and an improved gross margin rate, we expect first quarter EPS to be $0.04 to $0.05, which will exceed the high end of our current guidance of $0.02 per diluted share.”
