Stage Stores, Inc reported that its total sales for the four week November period ended Nov. 28, 2009 decreased 11.3% to $110 million from $124 million in the prior year four week period. Comparable store sales decreased 12.5% this year versus a decrease of 8.0% last year.
Accessories, cosmetics, dresses, footwear, intimates, juniors, misses sportswear, petites and plus sizes had comparable store sales in November that beat the Company average. Geographically, the Midwest and Mid-Atlantic were the Company?s best performing regions, while the South Central region, which is comprised of Texas, Louisiana, Oklahoma and Arkansas, was the weakest.
Comparable Store Sales Trend
% Increase (Decrease)
($ in Millions)
|Year-To-Date (10 Mos)||(8.9||)||(5.9||)||1,110||1,184|
Andy Hall, President and Chief Executive Officer, commented, “We believe our November results are representative of a challenging economy and a consumer that remains measured in her spending. She did show us on Black Friday that when incentivized she will shop, as we had an increase in comparable store sales on that day. Our inventory is well controlled and we are well positioned to provide our customers the value they seek throughout the remainder of the holiday shopping period.”
During November, the company completed its store opening program for 2009 with the opening of a new Goody's store in Bartlesville, OK. The Company opened a total of 27 new stores during the year and plans to open a similar number of stores in 2010.