Stage Stores Inc. (SSI) said its January comparable store sales decreased 11.3% this year versus a decline of 13.1% last year.
Total sales for the four week January period ended January 30, 2010 decreased 10.2% to $67 million from $75 million in the prior year four week period ended January 31, 2009.
For the fourth quarter, the company reported a 6.5% decline in comparable store sales versus a 7.2% decline in the 2008 period. Total sales for the latest quarter also slipped to $432 million from $456 million in the previous year. On average, 5 analysts polled by Thomson Reuters expected revenues of $436.15 million for the quarter. Analysts' estimate typically excludes one-time items.
The company stated that with fourth-quarter sales within its guidance range and strong merchandise margins, it expects to report fourth-quarter earnings that exceed last year's $0.67 per share.
Hence, Stage Stores expects to exceed the high end of its earnings guidance ranges for the fourth quarter and full year of $0.66 and $0.69 per share, respectively. Earlier, the company expected earnings per share to be at or near the high end of its guidance range of $0.56 - $0.66 for the fourth quarter and $0.59 - $0.69 for the year.
Five analysts anticipate fourth-quarter earnings per share of $0.65 and full-year earnings per share of $0.67.
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