Stage Stores quarterly income improves

HOUSTON Stage Stores reported net income for the fourth quarter ended Jan. 30 of $27.9 million, or 72 cents per diluted share, compared with net income of $25.3 million, or 67 cents per diluted share, for the prior year fourth quarter ended Jan. 31, 2009.

For the 2009 fiscal year, the company reported net income of $28.7 million, or 75 cents per diluted share, compared with a net loss of $65.5 million, or $(1.71) per share, for the 2008 fiscal year.

Andy Hall, president and CEO, commented, "We are pleased with our fourth-quarter results, in which we delivered a 9.9% increase in net income and diluted earnings per share above our guidance range. The improved performance was once again driven by strong inventory control and expense management."

For the first quarter, the company said it is projecting comparable-stores sales to be in a range of down 2% to flat.