Stage Stores, Inc. (NYSE: SSI) today reported that total sales for the four week November period ended November 24, 2012 increased 16.4% to $141 million from $121 million in the prior year four week November period ended November 26, 2011. Comparable store sales for the November period increased 13.2%.
Merchandise categories that posted comparable store sales gains in excess of the Company average were cosmetics, footwear, home & gifts, junior sportswear and petites. Geographically, all regions of the country achieved a comparable store sales increase, with the Midwest, South Central and Southwest regions outperforming.
|Comparable Store Sales||Total Sales|
|% Increase (Decrease)||($ in Millions)|
|1 st Quarter||2.5||0.2||366||347|
|2 nd Quarter||5.4||0.9||381||353|
|3 rd Quarter||8.1||(0.6||)||371||333|
|Year-To-Date (10 Mos)||6.1||0.4||1,259||1,154|
Michael Glazer, President and Chief Executive Officer, commented, “November’s sensational 13.2% comparable store sales increase gets us off to a fantastic start to the holiday season. Despite the disruptions caused by Superstorm Sandy early in the month, we achieved a comparable store sales increase each week of November, culminating in a gain of over 20% in the week of Thanksgiving. We participated like never before during the Thanksgiving weekend as we offered some of our most exciting and compelling holiday offers and deals ever. Our strategy worked well as we achieved higher sales while maintaining our merchandise margin rate. We are extremely encouraged by our outstanding November results and fully expect that our positive momentum will continue in December. December’s business will be driven by exciting merchandise selections, a strong marketing campaign, a favorable calendar and ongoing benefits from the combination of our private label credit card reissue and new loyalty program launch.”
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