Thursday, Stage Stores Inc. (SSI) said its comparable store sales for the month of November decreased 12.5% versus a decrease of 8.0% last year. Total sales for the four week ended November 28, 2009 declined 11.3% to $110 million from $124 million in the prior year period.
Andy Hall, President and Chief Executive Officer, said, "We believe our November results are representative of a challenging economy and a consumer that remains measured in her spending. She did show us on Black Friday that when incentivized she will shop, as we had an increase in comparable store sales on that day. Our inventory is well controlled and we are well positioned to provide our customers the value they seek throughout the remainder of the holiday shopping period."
The company said it has opened a total of 27 new stores during the year and plans to open a similar number of stores in 2010.
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