Stage Stores (SSI) Reports Decrease of 2.2% in Comps December 2009; Better Y/Y
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Stage Stores, Inc. (NYSE: SSI) today reported that its total sales for the five week December period ended January 2, 2010 decreased 1.0% to $255 million from $257 million in the prior year five week period ended January 3, 2009. Comparable store sales decreased 2.2% this year versus a decrease of 4.9% last year.
The Company achieved comparable store sales increases in its footwear, intimates, juniors and outerwear categories, while its children's, cosmetics, men's and plus sizes categories had comparable store sales that beat the Company average. Geographically, all regions of the country, with the exception of the South Central and Southwest, had comparable store sales gains during the month.
Andy Hall, President and Chief Executive Officer, commented, “We are pleased with our December sales performance and expect sales for the fourth quarter to be well within our comparable store guidance range of down 4% to 7%. Based on strong gross margin results after the first nine weeks, we expect that earnings per share will be at or near the high end of our guidance range of $0.56 to $0.66 for the fourth quarter and $0.59 to $0.69 for the year.”
The Company stated that no new stores were opened during December. Looking ahead, the Company plans to close one store in January. With this closure, the Company’s store count at fiscal year end will be 758 versus 739 at the end of last year.
The Company achieved comparable store sales increases in its footwear, intimates, juniors and outerwear categories, while its children's, cosmetics, men's and plus sizes categories had comparable store sales that beat the Company average. Geographically, all regions of the country, with the exception of the South Central and Southwest, had comparable store sales gains during the month.
Andy Hall, President and Chief Executive Officer, commented, “We are pleased with our December sales performance and expect sales for the fourth quarter to be well within our comparable store guidance range of down 4% to 7%. Based on strong gross margin results after the first nine weeks, we expect that earnings per share will be at or near the high end of our guidance range of $0.56 to $0.66 for the fourth quarter and $0.59 to $0.69 for the year.”
The Company stated that no new stores were opened during December. Looking ahead, the Company plans to close one store in January. With this closure, the Company’s store count at fiscal year end will be 758 versus 739 at the end of last year.
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