Stage Stores, Inc. saw sales for the five-week fiscal January total $99.5 million, up 50.5% from $66.1 million in the four-week fiscal month last year. The company noted that sales for the fifth week in this year's January period totaled $21.4 million. Comparable store sales during the first four weeks of this year's January period increased by 7.5% versus an increase of 1.5% for the same period last year.
With regard to its major categories of business, the Company reported that its accessories, cosmetics, dresses, footwear, intimate, junior sportswear, men's, misses sportswear and women's special sizes departments all achieved comparable store sales increases during January. Men's was the Company's best performing category during the month with a 25.6% increase, followed by increases in its dresses, accessories junior sportswear and intimate areas of 12.8%, 12.6%, 11.8% and 10.9%, respectively.
Jim Scarborough, Chairman and Chief Executive Officer, commented, “We are very pleased with our January sales performance. We achieved solid comparable store sales increases across a broad range of our product categories as colder and more seasonable weather helped drive sales of winter clearance merchandise. We ended the fiscal year with appropriate levels of inventory, and we look forward to transitioning into the upcoming spring selling season.”
For the fourteen-week fourth quarter, the company reported that total sales increased by 17.3% to $491.2 million versus $418.6 million for the thirteen-week fourth quarter last year. Comparable store sales during the first thirteen weeks of this year's fourth quarter grew 2.5% versus an increase of 5.6% for the same period last year. For the 53-week 2006 fiscal year, total sales increased by 15.3% to $1,550.2 million versus $1,344.1 million for the 52-week 2005 fiscal year. Comparable store sales during the first 52 weeks of the 2006 fiscal year increased by 3.5% versus an increase of 5.4% for the same period last year.
The following table is provided for reference purposes and details the sales history for the Company on a monthly and quarterly basis for the 2005 and 2006 fiscal years.
SALES SUMMARY
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Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
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Fiscal Period 2006 2005 2006(1) 2005(2)
-------------------- -------------- ------------- --------- ----------
February (0.9)% 3.7% $93.1 $92.3
March (3.9) 12.1 131.4 125.2
April 16.9 (2.5) 119.0 92.6
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1st Quarter 3.2 4.9 343.5 310.1
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May 4.0 7.0 116.1 100.0
June 3.5 11.0 133.4 115.0
July 6.2 2.4 112.6 94.4
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2nd Quarter 4.5 7.0 362.1 309.4
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August 3.8 1.5 128.8 111.2
September 11.0 (2.6) 121.0 98.5
October (2.5) 14.9 103.6 96.3
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3rd Quarter 4.1 3.9 353.4 306.0
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November 0.2 4.6 121.2 110.6
December 2.2 7.3 270.5 241.9
January 7.5(3) 1.5 99.5 66.1
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4th Quarter 2.5(3) 5.6 491.2 418.6
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Full Year 3.5%(3) 5.4% $1,550.2 $1,344.1
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(1) Fiscal 2006 consisted of 53 weeks and ran from January 29, 2006 to
February 3, 2007.
(2) Fiscal 2005 consisted of 52 weeks and ran from January 30, 2005 to
January 28, 2006.
(3) 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.
Store Activity
During January, the company closed one store in Austin, Texas. For the 2006 fiscal year, the company had a net increase of 105 stores, growing from 550 stores at the beginning of the year to 655 stores at the end of the year.
Fourth Quarter Earnings Outlook
The company stated that it continues to expect that its fourth quarter earnings will be towards the lower end of its previously provided earnings guidance range of 87 cents to 90 cents per diluted share.
