Stage Stores Nov. same-store sales slip 8 percent

HOUSTON - Stage Stores Inc. said Thursday its November same-store sales slipped 8 percent, hurt by a shift in the timing of Thanksgiving.

Analysts surveyed by Thomson Reuters predicted a bigger same-store sales decline of 14 percent.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Stage Stores said the shift of the holiday to a week later than the one a year ago resulted in only two shopping days in November after Thanksgiving in 2008 compared with nine post-holiday shopping days last year.

The company said its cosmetics category achieved same-store sales growth, with accessories, dresses, footwear, men's, misses sportswear and petites also having solid performances.

Total monthly sales dropped 4.8 percent to $124.4 million from $130.7 million.

President and Chief Executive Andy Hall was somewhat optimistic about the December holiday shopping season due to two extra pre-Christmas shopping days compared with the prior-year period, but cautioned that the company still expects a December same-store sales decline in the low-to-mid single digits.

Stage Stores runs 745 stores in 38 states.

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