Stage Stores November Comps Beat Guidance

Total sales were $124.4 million from $130.7 million in the period ended Dec. 1, 2007. Comparable store sales decreased 8.0% versus an increase of 3.6% last year.

 

The company noted that its November sales were adversely affected by the one-week later observance of Thanksgiving this year versus last year. The Thanksgiving calendar shift resulted in there being only two post-Thanksgiving shopping days in November this year compared to nine shopping days last year.

The company reported that cosmetics achieved a comparable store sales increase during November, while accessories, dresses, footwear, men's, misses sportswear and petites all performed better than the company average. The South Central region generated the best performance and the Southeast was its weakest region.

 

 “We are pleased to have outperformed our down mid teens guidance for November’s comparable store sales,” said Andy Hall, president and CEO. “The better than expected results were fairly consistent throughout the month and continued through the Thanksgiving weekend. Looking ahead, we expect December to benefit from two extra pre-Christmas shopping days versus last year and an aggressive marketing campaign, but we still are planning the business around a low-to-mid single digit comparable store sales decline for the month.”