Stage Stores Reports July Sales.Business Editors HOUSTON--(BUSINESS WIRE)--Aug. 7, 2003 Stage Stores Inc. (Nasdaq:STGS STGS Space Telescope Ground System STGS Status of Ground Station ) today reported that comparable store sales for the four-week period ended Aug. 2, 2003 decreased 1.0% as compared to the prior year four-week period ended Aug. 3, 2002, during which comparable store sales increased 2.1%. Total sales increased 2.2% to $70.5 million from $69.0 million in the prior year period. The Company stated that its dresses, home & gifts, misses sportswear and shoe departments had comparable store sales increases during the month, and its cosmetics and men's departments performed better than the Company average. For the second quarter ended Aug. 2, 2003, the Company reported that comparable store sales decreased 3.5%, while total sales increased 0.1% to $207.7 million from $207.5 million last year. Jim Scarborough, chairman, president and chief executive officer, commented, "Although slightly negative, we are pleased with our comparable store sales results for July. Since this is the second consecutive month of improving comparable store sales performance, we are now cautiously optimistic in our outlook for the second half of the year." Mr. Scarborough continued, "While we continue to see the greatest challenge in our larger markets, which are the most competitive, a number of store districts, primarily comprised of smaller market stores, produced comparable store sales gains for the period. Additionally, the Texas sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. holiday weekend, which ran from Aug. 1st through Aug. 3rd, met our sales expectations and was the biggest sales event Noun 1. sales event - an occasion (usually brief) for buying at specially reduced prices; "they held a sale to reduce their inventory"; "I got some great bargains at their annual sale" cut-rate sale, sale for us during the month." Mr. Scarborough concluded, "On July 24th, we opened new stores in Burkburnett, Texas Burkburnett is a city in Wichita County, Texas, United States. It is part of the Wichita Falls, Texas Metropolitan Statistical Area. The population was 10,927 at the 2000 census. Geography Burkburnett is located at (34. , Baton Rouge Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La., Nogales Nogales (nōgä`lās), city (1990 pop. 19,489), Santa Cruz co., S Ariz. on the Mexican border with its adjacent city, Nogales (1990 pop. 105,873), Sonora, NW Mexico. There are copper, silver, and lead mines. , Ariz., and Rolla, Mo.
We are pleased with the early results in these stores. With these 4 July
openings, that brings the total number of stores opened through the
first 6 months of the fiscal year to 12. Looking ahead, we are currently
planning to open an additional 13 new stores in October and 3 new stores
in November, which will be located in the states of Texas, Louisiana and
New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). ."
SALES SUMMARY
Comparable Store Sales Trend Total Sales
% Increase (Decrease) ($ in Millions)
---------------------------- ---------------
Fiscal Period 2003 2002 2003 2002
------------- ---- ---- ---- ----
1st Quarter (7.5)% 7.0% $198.0 $206.7
May (6.6) 8.8 65.0 66.9
June (3.1) 8.9 72.2 71.6
July (1.0) 2.1 70.5 69.0
2nd Quarter (3.5) 6.5 207.7 207.5
Year-To-Date (5.5) 6.8 405.7 414.2
Stage Stores Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small and mid-size towns and communities throughout the south central United States The South Central United States, South Central states, or Midsouth is a region of the United States located in the south central part of the country. It evolved out of the archaic southwest, which originally was literally the western U.S. South. . The Company currently operates a total of 366 stores in 13 states under the Stage, Bealls and Palais Royal names. For more information about Stage Stores, visit the Company's Web site at www.stagestoresinc.com. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including comments regarding the Company's outlook for the second half of the 2003 fiscal year. The Company intends forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans" or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. as filed with the Securities and Exchange Commission (the "SEC") on April 23, 2003, in the Company's Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. as filed with the SEC and other factors as may periodically be described in other Company filings with the SEC. |
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