• Q4 net profit US$32.7m, versus $32m last year
  • Net sales up 5.6% to $479.1m
  • Expects slight comps increase in FY 2012

Retailer Stage Stores blamed the promotional retail environment for its failure to reach its profit goal in the fourth quarter, with net income edging up only slightly on last year.

The US company reported a 5.6% increase in net sales in the three months to 28 January, but said it expected comparable store sales in fiscal 2012 to be flat or up 2% at most.

“Despite a 22% increase in earnings per share, we fell short of our bottom-line goal,” said Andy Hall, Stage Stores president and CEO.

“Our results are a reflection of the highly promotional business environment that was prevalent throughout the quarter.”