US: Stage Stores lowers FY guidance, sales fall
US apparel, footwear and accessories retailer Stage Stores has lowered its earnings guidance for the full year and revealed slowing traffic hit sales in the run up to Christmas.
In the nine weeks ended 4 January, sales dropped to US$427m from $428m in the prior year quarter. Comparable store sales dropped 1.5%.
CEO Michael Glazer said the company was "pleased" with its strong sales in early November and during Thanksgiving and Black Friday. However, he said traffic slowed in the weeks leading up to Christmas and so the firm was unable to maintain its early positive sales trend.
Based on the sales results and the impact of a "highly promotional environment on merchandise margin", Stage Stores reduced its 2013 adjusted EPS guidance to a range of $1.10 to $1.15 from $1.20 to $1.30 previously.
The company will report its fourth-quarter and full-year sales and earnings results on 6 March.
US department store retailer Stage Stores has raised its full-year earnings guidance on the back of holiday sales growth....
Stage Stores, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offer...
US retailer Stage Stores has narrowed its third quarter net loss and reaffirmed EPS guidance for its next quarter....
Synopsis Canadean's "Stage Stores, Inc. : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a comp...
- M&S to launch supply chain human rights policy
- VF pushes ahead on chemicals management
- M&S project benefits garment worker health
- Can the Gap brand reclaim its iconic status?
- Key pieces of US trade agenda signed into law
- C&A to add "accurate fit" label to garments
- China cotton stockpile auction may shake up market
- US retail landscape "mediocre" over next 5 years
- Over 8,000 children in Delhi garment industry
- WEBINAR: Compliance: Why has it failed?