Home / Knowledge / News / Apparel/Garments / Stage Stores Q4'FY13 comparable store sales dip 3.4%
Stage Stores Q4'FY13 comparable store sales dip 3.4%
07
Mar '14
Stage Stores, Inc. reported financial results for the fourth quarter and fiscal year ended February 1, 2014. The Company reported adjusted earnings for fiscal 2013, excluding one-time items and the loss associated with the Steele’s division, of $1.22 per diluted share compared to $1.44 per diluted share for fiscal 2012. The Company has entered into a definitive agreement for the sale of the Steele’s division, which it expects to consummate during the first quarter of 2014.
 
2013 Results
The Company follows the retail reporting calendar, which included an extra week of sales in the fourth quarter of 2012. For the 13-week fourth quarter of 2013, the Company reported total sales, excluding Steele’s, of $493 million compared to $519 million for the 14-week fourth quarter of 2012.
 
Comparable store sales for the quarter decreased 3.4%; however, many retailers report comparable store sales on a shifted calendar, which excludes the first week of the 2012 fiscal quarter. On this shifted basis, comparable store sales decreased 1.1% for the quarter.
 
Cosmetics, footwear, children’s, related sportswear, plus sizes and men’s businesses all performed better than the Company average for the quarter. Geographically, the South Central and Northwest regions outperformed.
 
For the 2013 fiscal year, the Company reported total sales, excluding Steele’s, of $1,610 million versus $1,628 million for the 2012 fiscal year. Comparable store sales for the year decreased 1.5%, while on a shifted calendar basis, which excludes the first week of 2012, comparable store sales decreased 1.1%.
 
The Company reported earnings for the fourth quarter of $24.9 million, or $0.78 per diluted share, this year compared to earnings of $35.8 million, or $1.09 per diluted share, for the same period last year. One-time items recorded in this year’s fourth quarter, totaling approximately $10.5 million, or $0.21 per share, include items associated with the consolidation of the Company’s South Hill, Virginia operations into its Houston headquarters and an impairment charge related to Steele’s.
 
One-time items recorded in last year’s fourth quarter, totaling approximately $2.6 million, or $0.05 per share, are associated with the South Hill consolidation. For the 2013 fiscal year, the Company reported earnings of $16.6 million, or $0.51 per diluted share, compared to earnings of $38.2 million, or $1.19 per diluted share, for fiscal 2012. One-time items, including the Steele’s impairment charge, total approximately $31.1 million, or $0.59 per share, this year versus approximately $6.9 million, or $0.14 per share, last year. Steele’s had a net loss of $0.12 per share this year and last year.
 

Stage Stores

Must ReadView All

Textiles | On 27th Aug 2016

French textile machinery makers to show at ITMA CITME

Seven French textile machinery manufacturers will showcase their...

courtesy: JLL

Apparel/Garments | On 27th Aug 2016

Indian cities clocking fastest retail growth: Report

Indian cities such as Bangalore, Hyderabad, Delhi and Pune are...

courtesy: Delta Galil

Fashion | On 27th Aug 2016

VF Corp completes sale of 3 brands to Delta Galil

VF Corporation, a global leader in the design, manufacture, marketing ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search