Stage Stores key revenue metric rises in July

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Associated Press

Posted on August 2, 2012 at 7:00 AM

Updated Thursday, Aug 2 at 7:01 AM

HOUSTON (AP) — Stage Stores' revenue at stores open at least a year rose 5.3 percent in July, buoyed by better sales of accessories and cosmetics and shoppers who spent more on their visits. The performance easily beat Wall Street's view.

Analysts expected the figure to climb 2.2 percent for the department store chain, according to a poll by Thomson Reuters.

Revenue at stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.

Stage Stores Inc. said Thursday that other categories with strong sales included home and gifts, misses sportswear and young men's.

The Northeast, MidAtlantic, South Central and Southwest regions all had improved results.

"Clearly our merchandise offerings are resonating well with our customers and our performance continues to benefit from an increased average transaction," President and CEO Michael Glazer said in a statement.

Total revenue for the period ended July 28 climbed 7.9 percent to $110 million.

Second-quarter revenue at stores open at least a year gained 5.4 percent, while total revenue increased 8.2 percent to $381 million.

For the year to date, revenue at stores open at least a year climbed 4 percent and total sales rose 7 percent to $747 million.

Stage Stores plans to report its second-quarter financial results on Aug. 16. The Houston company runs 836 stores in 40 states.

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