Stage Stores, Inc. reported that total sales for the four-week period ended February 25, 2006, increased 0.9% to $93.1 million from $92.3 million in the prior year four-week period ended February 26, 2005. Comparable store sales decreased 0.9% versus an increase of 3.7% last year.
With regard to its major categories of business, the Company reported that its accessories, cosmetics, men's, women's special sizes and young men's departments all had comparable store sales increases during February.
Jim Scarborough, Chairman and Chief Executive Officer, commented, “Our February sales results are reflective of the erratic weather patterns that we experienced in our various geographic market areas throughout the month. With temperatures ranging from above normal at times to below normal at other times, and with severe winter precipitation affecting our traffic patterns, it was difficult for us to get any consistency from week to week in the sales of either our winter clearance goods, or our early spring merchandise.”
Mr. Scarborough continued, “Looking forward, we expect that our comparable store sales results for March will be negatively impacted by the Easter calendar shift from March 27th last year to April 16th this year. Accordingly, we expect that our sales results for April will benefit from this calendar shift. For the first quarter, we are currently projecting our overall comparable store sales increase to be in the low single digit range.”
SALES SUMMARY
Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
--------------------- ---------------
Fiscal Period 2006 2005 2006 2005
------------- ---- ---- ---- ----
February (0.9)% 3.7% $93.1 $92.3
On February 27, 2006, the Company purchased B.C. Moore & Sons, Inc., and acquired 78 retail locations located in small markets throughout Alabama, Georgia, North Carolina and South Carolina.
