Stage Stores Reports June Sales -- Comparable Store Sales Increase 11.1%; Announces 3-for-2 Stock Split and $30 million Stock Re
2005年7月7日 - 7:00PM
ビジネスワイヤ(英語)
Stage Stores, Inc. (Nasdaq:STGS) today reported that total sales
for the five-week period ended July 2, 2005 increased 14.9% to
$115.0 million from $100.1 million in the prior year five-week
period ended July 3, 2004. Comparable store sales increased 11.1%
versus a decrease of 2.5% last year. The Company noted that its
comparable store sales gain was driven by positive performances in
all of its major product categories, with the best performing areas
being woman's special sizes (+29.0%), accessories (+20.1%) and
misses sportswear (+18.2%). -0- *T SALES SUMMARY
----------------------------------------------------------------------
Comparable Store Sales Trend Total Sales % Increase (Decrease) ($
in Millions) ---------------------- ---------------------- Fiscal
Period 2005 2004 2005 2004 ----------------- -------- --------
-------- -------- 1st Quarter 4.9% 4.5% $310.1 $289.7 May 7.0 1.0
100.0 90.6 June 11.1 (2.5) 115.0 100.1 2nd Qtr-To-Date 9.1 (0.9)
215.0 190.7 Year-To-Date 6.6 2.3 525.1 480.4 *T Jim Scarborough,
Chairman, President and Chief Executive Officer, commented, "We are
very pleased with our 11.1% comparable store sales increase for
June, which clearly benefited from our great merchandise selections
and the onset of warmer weather in our eastern markets." Mr.
Scarborough continued, "As always, we remain intently focused on
growing both our top and bottom line performance by continuing to
achieve comparable store sales increases and maintaining tight
expense controls, and by the expansion of our store base through
organic store growth and opportunistic acquisitions. Our strong
cash flow and healthy balance sheet allows us to continue to invest
in our Company's future growth. Based on our continuing solid
financial results, the recent performance of our common stock, and
our confidence in our long-term prospects, on July 5, 2005, our
Board of Directors approved a 3-for-2 stock split of our
outstanding shares. At that same meeting, the Board also approved a
$30 million Stock Repurchase Program, specifically intended to help
mitigate the dilutive impact on earnings per share that is expected
to occur from the future exercise of our Series A and B warrants
(Nasdaq: STGSW and STGSZ) prior to their expiration on August 23,
2006." Details of 3-for-2 Stock Split The Company's 3-for-2 stock
split will be paid as a stock dividend. Holders of record of the
Company's common stock at the close of business on August 4, 2005,
will receive one additional share of common stock for every two
shares of common stock that they owned as of that date. Fractional
shares resulting from the stock split will be paid in cash in lieu
of issuing fractional shares. The stock dividend will be paid on
August 19, 2005. Prior to the split, there will be approximately
18,100,000 shares of the Company's common stock outstanding. After
the split, there will be approximately 27,150,000 shares of the
Company's common stock outstanding. Details of Stock Repurchase
Program Under the Company's $30 million Stock Repurchase Program,
the Company may repurchase its outstanding common stock up to that
amount from time to time, either on the open market or through
privately negotiated transactions. The Stock Repurchase Program
will be financed by the Company's cash flow and other liquidity
sources. In addition, the Company expects to continue to repurchase
shares using the proceeds that it receives from the exercise of
employee stock options under its Amended and Restated 2001 Equity
Incentive Plan, including the tax benefits that will accrue to the
Company from the exercise of those options. Stage Stores, Inc.
brings nationally recognized brand name apparel, accessories,
cosmetics and footwear for the entire family to small and mid-size
towns and communities through 537 stores located in 29 states. The
Company operates under the Stage, Bealls and Palais Royal names
throughout the South Central states, and under the Peebles name
throughout the Mid-Atlantic, Southeastern and Midwestern states.
For more information about Stage Stores, visit the Company's web
site at www.stagestores.com.
Stage Stores (NASDAQ:STGS)
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