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Stage Stores' Petites unit gains in June
09 Jul '08
2 min read
Stage Stores Inc reported that its total sales for the five week June period ended July 5, 2008 increased 6.4% to $142.0 million from $133.4 million in the prior year five week period ended July 7, 2007. Comparable store sales increased 1.2% this year versus an increase of 1.4% last year.
The Company stated that its June comparable store sales increase was broad based, with its children's, cosmetics, dresses, footwear, intimate apparel, men's, misses' sportswear and petites categories all posting gains for the month. With regard to regions of the country, the Company recorded comparable stores sales increases in all but the Southwest, which was down slightly.
Jim Scarborough, Chairman and Chief Executive Officer, commented, “Considering the challenging macroeconomic environment, we are pleased to have achieved comparable store sales increases during the first two months of the second quarter.
Based upon our positive comparable store sales results, we currently expect to meet or exceed the high end of our previously provided Q2 comparable store sales forecast of down 3.0%. Accordingly, we believe that our earnings for the quarter will also be at or above the high end of our previously provided earnings forecast of $0.23 per diluted share.”
Store Activity:
The Company did not open any new stores in June. Looking ahead, the Company continues to expect to open five new stores in July, including its first two stores in Idaho.
The Company stated that its June comparable store sales increase was broad based, with its children's, cosmetics, dresses, footwear, intimate apparel, men's, misses' sportswear and petites categories all posting gains for the month. With regard to regions of the country, the Company recorded comparable stores sales increases in all but the Southwest, which was down slightly.
Jim Scarborough, Chairman and Chief Executive Officer, commented, “Considering the challenging macroeconomic environment, we are pleased to have achieved comparable store sales increases during the first two months of the second quarter.
Based upon our positive comparable store sales results, we currently expect to meet or exceed the high end of our previously provided Q2 comparable store sales forecast of down 3.0%. Accordingly, we believe that our earnings for the quarter will also be at or above the high end of our previously provided earnings forecast of $0.23 per diluted share.”
Store Activity:
The Company did not open any new stores in June. Looking ahead, the Company continues to expect to open five new stores in July, including its first two stores in Idaho.
Stage Stores Inc
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