Stage Stores reports July sales down 1%

HOUSTON Stage Stores reported total sales for the four-week July period ended Aug. 2 of $108.1 million, a 1% decrease from $109.2 million in the prior year. Comparable-store sales decreased 6.2%, versus a decrease of 1.7% last year.

Major categories of business which achieved comparable-store sales increases during July included cosmetics at +11.9% and dresses at +2%.

For the second quarter ended Aug. 2, the company reported that its total sales increased 3.8% to $372.7 million, compared to $359.2 million in the like period last year. Comparable-store sales for the quarter decreased 1.4%, versus an increase of 0.5% in the prior-year period.

“Our July comparable-store sales results reflect the continuing challenging economic environment, as well as a slow start to the back-to-school selling period, despite tax-free sales events in a number of states," said Jim Scarborough, chairman and ceo. "While we are disappointed with our July sales results, we did exceed our total and comparable-store sales guidance ranges for the second quarter, and therefore, we continue to believe that we will meet or exceed the high end of our earnings guidance range for the quarter of 17 cents to 23 cents per diluted share.”