Home / Knowledge / News / Apparel/Garments / Stage Stores reports 3.5% sales rise in Q1 FY'13
Stage Stores reports 3.5% sales rise in Q1 FY'13
17
May '13
Stage Stores, Inc. reported financial results for the first fiscal quarter ended May 4, 2013.

Total sales for the quarter increased 3.5% to $379 million from $366 million in the prior year first quarter ended April 28, 2012. Comparable store sales for the quarter increased 0.7%. The Company noted that its best performing categories were accessories and home & gifts. Geographically, the Southwest was the best performing region for the quarter.

The Company reported an adjusted loss for the quarter, excluding one-time items, of $0.8 million, or $0.02 per share. This compares to adjusted earnings, excluding one-time items, of $1.4 million, or $0.05 per diluted share, for the prior year first quarter.

Commenting on the Company’s first quarter results, Michael Glazer, President and Chief Executive Officer, stated, “The unseasonably cool weather in March and April, particularly when compared to last year’s warm spring, strongly impacted our sales performance. We managed our inventory aggressively and ended the quarter in a clean inventory position. We feel good about our merchandise assortments going into the second quarter.

“From an operational standpoint, we made excellent progress on a number of our key initiatives during the quarter. Most importantly, our South Hill consolidation remained on track for a midyear completion.

"We strongly believe that the consolidation will increase our productivity, create synergies, enhance our purchasing power, provide for a consistent message to our customers and accelerate sales growth. In addition, we opened 10 new stores, and started the roll-out of our new prototype fixture packages in our top 40 doors.

“Looking ahead, we remain optimistic about our prospects for the remainder of the year. We believe sales in the second quarter will benefit from pent-up demand for seasonal merchandise as temperatures normalize. In addition, our accelerated first quarter clearance cadence, similar to last year’s third quarter, should have a positive impact on our gross margins for the second quarter.

"Overall, we feel extremely positive about the initiatives that we have underway to drive top-line and bottom-line growth. As such, we are maintaining our comparable store sales and adjusted EPS guidance for the year. As another testament to our confidence in delivering future earnings growth, last month we announced a 25% increase in our quarterly dividend rate. This significant increase demonstrates our commitment to create value for our shareholders through increasing shareholder distributions,” Mr. Glazer concluded.

Stage Stores


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Cotton price increase is not sustainable: ITF

Textiles | On 11th Dec 2017

Cotton price increase is not sustainable: ITF

The increase in cotton price seen last week is only a short-term...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Urmil Arya

Sushila International, a well established textile organisation established ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search