Stage Stores, Inc. today reported that its total sales for the four week July period ended July 31, 2010 increased 2.4% to $100 million from $97 million in the prior year four week period ended August 1, 2009. Comparable store sales decreased 0.6%.
With regard to product categories, accessories, children’s, cosmetics, footwear, intimate apparel and swimwear achieved comparable store sales increases during July. By region, the Midwest, Northeast, Southeast and Southwest all had comparable store sales gains during the month.
For the second quarter, the Company reported that total sales increased 1.0% to $345 million from $342 million last year. Comparable store sales for the quarter decreased 1.6%.
Andy Hall, President and Chief Executive Officer, commented, “Although showing improving trends, comparable store sales declines in Texas and Louisiana once again offset the positive results achieved in a majority of our other states. We continue to be pleased with the performance of our new stores and are encouraged by the comparable store sales results in our small markets, which comprise 64% of our store base and are up 2.3% through the first half of the year.”
Mr. Hall continued, “Our inventory and expenses remain well controlled and we expect to achieve the low end of our second quarter EPS guidance range of 26 cents to 30 cents.”
