Stage Stores (SSI) Reports January SSS Rose 2.5%, Cuts FY11 EPS Guidance Well Below Consensus

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SSI Hot Sheet

EPS Growth %: +600.0%

Financial Fact:
Diluted earnings per share: 0.29

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TARO, BRLI, TLB, More

Stage Stores, Inc. (NYSE: SSI) today reported that its total sales for the four-week January period ended January 28, 2012, increased 2.5% to $74 million from $72 million in the prior-year four-week period ended January 29, 2011. Comparable store sales decreased 0.1%.

Merchandise categories which achieved comparable store sales increases in January included accessories, children’s, cosmetics, footwear, home & gifts and junior’s. Geographically, the Mid Atlantic, Midwest and Southeast regions had comparable store sales gains during the month.

For the fourth quarter ended January 28, 2012, the Company reported that total sales increased 3.2% to $468 million, versus the consensus of $468.84 million. Comparable store sales for the quarter increased 1.3%. For the fiscal year ended January 28, 2012, total sales increased 2.1% to $1,501 million. Comparable store sales increased 0.5% for the year.

Andy Hall, President and Chief Executive Officer, commented, “Sales in January and the fourth quarter were in line with expectations. However, as we discussed in the December sales release, our gross margin was negatively impacted by the promotional business environment. As a result, we now expect earnings for the full year to be in the range of $0.92 to $0.93 per share, versus our previous guidance range of $1.02 to $1.08 per share.” The Street's consensus calls for $1.14 per share in earnings.

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