Apparels and accessories retailer Stage Stores Inc. (SSI) Thursday reported a decline in comparable store sales for the month of August.
The Houston, Texas-based company's comparable store sales for the month decreased 9.5%, compared with an 8.3% decrease last year. Total sales for the month declined 7.4% to $111 million from $120 million in the prior-year month.
The company noted that cosmetics, which achieved a positive comparable store sales during the month, continued as its best performing merchandise category. Intimates, juniors, men's, misses sportswear, petites and plus sizes performed better than the company average. The company said that Southeast was the company's best performing region, while the Northeast was its weakest.
Comparable store sales for the seven-month period declined 9.8%, compared with a 4.1% decline last year. Year-to-date, total sales were $786 million, lower than $846 million in the previous year. Stage Stores opened nine stores and closed one store in August. The company said it expects to open an additional eight new stores during the next three months, six of which would be opened under the Goody's name. The company operates through 751 stores located in 39 states, under the five names of Bealls, Goody's, Palais Royal, Peebles and Stage.
SSI closed Wednesday's regular trading at 12.81 per share on the NYSE.
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