Stage Stores boosts Q4 profit, will close 10-20 stores

Houston – A dropping cost of sales helped Stage Stores Inc. boost net income 76% to $43.72 million in the fourth quarter of fiscal 2014, up from $18.26 million the same quarter a year earlier. Net sales climbed 6% to $524.89 million from $492.54 million, and same-store sales rose 6.4%.



Stage Stores plans to close 10-20 stores and open two new stores during fiscal 2015.



For the full fiscal year, net income rose 85% to $30.85 million from $16.64 million in fiscal 2013Sales grew 2% to $1.64 billion from $1.61 billion as same-store sales increased 1.4%.



“We plan to build upon our success with several key priorities for 2015, including driving improved store productivity, expanding our omnichannel capabilities and direct-to-consumer sales, upgrading our store base through remodels, and building a service culture focused on our customers,” said Michael Glazer, president and CEO.



During fiscal 2015, sales are expected to be in a range of $1.64 to $1.75 billion, assuming a flat to 2% increase in same-store sales.