Stage Stores' total sales for September increased 5.6% to $127.8 million from $121.0 million for the prior year. Prior year sales results include inventory liquidation sales of $2.9 million generated by the acquired B.C. Moore stores prior to their conversion to Peebles stores. Comparable store sales for the month increased 2.3% versus an increase of 11.0% last year.
Jim Scarborough, Chairman and Chief Executive Officer, commented, “We are pleased to have achieved our 2.3% comparable store sales increase in September, particularly in light of the unseasonably warm weather that persisted in many of our market areas throughout most of the month. Our comp store sales increase is particularly encouraging versus the 11.0% increase we achieved last year. This year's sales performance was broad based, driven by comparable store sales increases in a large majority of our key merchandise categories. Our cosmetics, dresses and plus size businesses led the way during the month, all achieving double-digit gains.”
SALES SUMMARY
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Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
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Fiscal Period 2007 2006 2007 2006
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1st Quarter 0.1% 3.2% $ 358.2 $ 343.5
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
3rd Qtr-To-Date (0.2) 7.2 251.3 249.8
Year-To-Date (8 Mos) 0.2 4.7 968.7 955.4
Store Activity
During September, the Company opened nine new stores and entered Wisconsin, its thirty-fourth state. A new Bealls store was opened in Alamo, TX, and new Peebles stores were opened in Forest, MS, Geneseo and Malone, NY, Pulaski, VA, Mukwonago, WI, Madison, GA, Three Rivers, MI and Live Oak, FL. Through the first eight months of the 2007 fiscal year, the Company has opened twenty-four new stores, and plans to open an additional eleven new stores in October, and twelve new stores in November.
