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


Interviews View All

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

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

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search