Stage Stores 4Q profit drops

HOUSTON Stage Stores today reported net income for the 13-week fourth quarter ended Feb. 2 of $31.7 million, or 78 cents per diluted share, compared to net income of $39.6 million, or 88 cents per diluted share, for the prior year 14-week fourth quarter ended Feb. 3, 2007.

As previously reported by the company, total sales for this year’s 13-week fourth quarter were $473 million versus $491.2 million for the fourteen week fourth quarter last year. Comparable-store sales for the fourth quarter (13 weeks versus first 13 weeks) decreased 3.1% versus an increase of 2.5% in the prior year.

Total sales for the 52-week 2007 fiscal year were $1.5 billion compared to $1.55 for the 53-week 2006 fiscal year. Comparable-store sales for the fiscal year (52 weeks versus first 52 weeks) decreased 1.1% compared to an increase of 3.5% last year. Net income for the 2007 fiscal year was $53.1 million, or $1.24 per diluted share, compared to $55.3 million, or $1.25 per diluted share, for the prior year.

The company said it expects comparable-store sales to be in a range of flat to negative low single digits for the first quarter and full year.