Stage Stores, Inc. reported total sales for this years four-week January period were $82.1 million vs. $99.5 million for last years five-week January period. Excluding last Januarys fifth week sales of $21.4 million, the company achieved an overall sales increase of 5.1%. Comparable store sales for the month (four weeks vs. first four weeks) increased 1.0% this year vs. an increase of 7.5% last year.
Jim Scarborough, chairman and CEO, commented, “Considering the strong 7.5% comparable store sales increase we achieved in January of last year, and our expectations for weak comparable store sales this January, we are pleased to have posted positive comparable sales results for the month. We achieved comparable store sales increases in a number of our major product categories, and we also ended the year with our per store inventory levels down 2.0% vs. last year.”
The company reported that its childrens, cosmetics, dresses, mens, misses sportswear and plus sizes departments all achieved comparable store sales increases in January. Cosmetics had the largest sales increase at 26.6%, followed by gains of 14.3% in dresses and 11.2% in plus sizes.
For this years thirteen-week fourth quarter, the company reported total sales of $473.1 million vs. $491.2 million for the fourteen-week fourth quarter last year. Comparable store sales for the quarter (thirteen weeks vs. first thirteen weeks) decreased 3.1% vs. an increase of 2.5% last year. For the 52-week 2007 fiscal year, total sales were $1,545.6 million vs. $1,550.2 million for the 53-week 2006 fiscal year. Comparable store sales for the fiscal year (52 weeks vs. first 52 weeks) decreased 1.1% vs. an increase of 3.5% last year.
Mr. Scarborough added, “Although we have just begun closing the books on 2007, we continue to expect to report diluted earnings per share for the fourth quarter of $0.76 to $0.81, and $1.23 to $1.27 for the full year. We plan to release our fourth quarter and full year results before the market opens on Tuesday, March 11, 2008.”
The following table details the sales history for the company on a monthly and quarterly basis for the 2007 and 2006 fiscal years.
SALES SUMMARY | ||||||||||||||
Comparable Store Sales Trend | Total Sales | |||||||||||||
| % Increase (Decrease) | ($ in Millions) | ||||||||||||
Fiscal Period | 2007 | 2006 | 2007(1) | 2006(2) | ||||||||||
| February | 1.4 | % | (0.9 | )% | $ | 104.6 | $ | 93.1 | ||||||
| March | 12.4 | (3.9 | ) | 151.0 | 131.4 | |||||||||
| April | (14.8 | ) | 16.9 | 102.6 | 119.0 | |||||||||
1st Quarter | 0.1 | 3.2 | 358.2 | 343.5 | ||||||||||
| May | 1.7 | 4.0 | 116.6 | 116.1 | ||||||||||
| June | 1.4 | 3.5 | 133.4 | 133.4 | ||||||||||
| July | (1.7 | ) | 6.2 | 109.2 | 112.6 | |||||||||
| 2nd Quarter | 0.5 | 4.5 | 359.2 | 362.1 | ||||||||||
| August | (2.6 | ) | 3.8 | 123.5 | 128.8 | |||||||||
| September | 2.3 | 11.0 | 127.8 | 121.0 | ||||||||||
| October | (2.9 | ) | (2.5 | ) | 103.8 | 103.6 | ||||||||
| 3rd Quarter | (1.0 | ) | 4.1 | 355.1 | 353.4 | |||||||||
| November | 3.6 | 0.2 | 130.7 | 121.2 | ||||||||||
| December | (7.1 | ) | 2.2 | 260.3 | 270.5 | |||||||||
| January | 1.0 | 7.5 | (3) | 82.1 | 99.5 | (4) | ||||||||
| 4th Quarter | (3.1 | ) | 2.5 | (3) | 473.1 | 491.2 | (4) | |||||||
| Full Year | (1.1 | )% | 3.5 | % (3) | $ | 1,545.6 | $ | 1,550.2 | (4) | |||||
- Fiscal 2007 consisted of 52 weeks and ran from February 4, 2007 to February 2, 2008.
- Fiscal 2006 consisted of 53 weeks and ran from January 29, 2006 to February 3, 2007.
- Comparable store sales are calculated over the first 4 weeks of the 5-week January period, the first 13 weeks of the 14-week fourth quarter, and the first 52 weeks of the 53-week 2006 fiscal year.
- Includes sales of $21.4 million generated in week five of the 5-week January period.
