• Swings to Q1 loss of $461,000 from a profit of $2.2m
  • Revenue rose 1.9% to $346.5m
  • Same-store sales were flat 

Regional department store retailer Stage Stores Inc has swung to a first quarter loss after poor sales and promotions hurt merchandise margins.

“Adverse February sales, disappointing Easter sales and near-record gasoline prices resulted in flat comparable store sales for the quarter,” explained CEO Andy Hall. “The February sales loss forced us to increase promotional activity in March and April as we attempted to make up the sales shortfall.”
That said, the retailer is “optimistic” about the rest of the year.

“We believe our March and April combined comparable store sales results of 3.3% is a better indicator of our go forward run rate," Hall added. "In addition, we remain very pleased with the performance of our rebranded Goody’s stores and with the progress we have made with our eCommerce business."