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Stage Stores same-stores sales fall 3.9% in March

06 Apr '06

2 min read

Apparel retailer Stage Stores Inc has reported that total sales for the five-week period ended April 1st 2006 increased 5.0 percent to $131.4 million from $125.2 million in the prior year five-week period ended April 2nd 2005.

The company noted that this year's total sales include the sales generated by the recently acquired B.C. Moore stores. Same-store sales, reflecting the impact of the Easter calendar shift, decreased 3.9 percent versus an increase of 12.1 percent last year, and do not include results for the B.C. Moore stores.

Jim Scarborough, Chairman and CEO, said, "As anticipated, our March comparable store sales results reflect the impact of the Easter calendar shift from March last year to April this year. It is encouraging to note, however, that in spite of the Easter calendar shift, our women's special sizes, intimate apparel and young men's merchandise divisions all achieved comparable store sales gains during the month.”

“As we move into April, we are well positioned with spring merchandise to meet our customer's needs for the upcoming Easter holiday. For the first quarter, we continue to project a comparable store sales increase in the low single digits range," he added.

For FY 2006, the company estimates that the B.C. Moore stores, which were acquired on February 27th, are expected to contribute sales of $92.0 - $97.0 million, and have a net operating loss of $2.2 - $3.2 million, or a $0.07 - $0.11 net loss per diluted share.

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