Stage Stores May Comps Inch Up 0.1%

Stage Stores, Inc. saw May comps inch up 0.1% after growth of 1.7% for the year-ago month. Net sales for the period ended May 31, 2008 increased 5.1% to $122.6 million from $116.6 million in the prior year. The company stated that its cosmetics, childrens, intimate apparel, dresses, footwear and petites categories all achieved comparable store sales increases during May, posting gains of 15.1%, 4.6%, 4.2%, 3.4%, 3.0% and 1.0%, respectively.

Jim Scarborough, chairman and CEO, commented, “Our comparable store sales increase during May was driven by positive results in weeks one and four. Week one benefited from our monthly senior discount day sales event, which fell into April last year, as well as a successful Mother’s Day. Week four benefited from a strong finish to our Memorial Day event. Our customers’ shopping patterns continue to suggest that consumers are principally sales event-driven, as they look to save money during these tough economic times.”