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Proc-Type: 2001,MIC-CLEAR
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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 May 7, 2002 (Date of Report, date of earliest event reported) Stage Stores, Inc
(Exact name of registrant as specified in its charter)
000-21011
(Commission File Number)
NEVADA
(State or other jurisdiction
of incorporation)
91-1826900
(I.R.S. Employer Identification No.)
10201 Main Street, Houston, Texas
(Address of principal executive offices)
77025
(Zip Code)
(713) 667-5601
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. Other Events and Regulation FD Disclosure.
On May 7, 2002, the Company issued a news release announcing sales for April 2002. A copy of the news release is attached to this Form 8-K as Exhibit 99.1.
ITEM 7. Financial Statements and Exhibits.
Not applicable.
Pro forma financial information.
Not applicable.
Exhibits.
99.1 News Release dated May 7, 2002 issued by the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
STAGE STORES, INC.
May 7, 2002 /s/ Michael E. McCreery
(Date) Michael E. McCreery
Executive Vice President and Chief
Financial Officer
Exhibit 99.1
NEWS RELEASE
CONTACT:
Bob Aronson
Director of Investor Relations
800-579-2302
(baronson@stagestores.com)
FOR IMMEDIATE RELEASE
STAGE STORES REPORTS APRIL SALES
HOUSTON, TX, May 7, 2002 - Stage Stores, Inc. (NASDAQ: STGS) today reported total sales for the four week April period ended May 4, 2002 of $60.8 million versus $62.0 million for the comparable period last year, a decrease of 1.9%. The Company operated 342 stores during most of April 2002 while it operated 347 stores during April 2001.
As discussed in the March sales release, the fact that the Easter holiday fell into the March period this year while it fell into the April period last year was expected to substantially impact comparable store sales comparisons for April 2002. In spite of this fact, comparable stores sales in the April period declined by only 1.0% from the prior year period. A more meaningful comparison is to look at the results for the combined nine week fiscal March and April period rather than each fiscal month individually. For the nine week period, comparable stores sales increased 7.3% as compared to the same nine week period last year.
For the entire first quarter of fiscal 2002, the Company reported a comparable store sales increase of 7.0% and total sales of $206.7 million, which represents a 5.7% increase over the prior year's total first quarter sales of $195.5 million.
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Stage Stores Reports
April Sales
Page - 2
SALES SUMMARY
Comparable Store Sales Trend
Total Sales
Fiscal Period
% Increase
($ in Millions)
2002
2001(a)
2001(b)
2002
2001
(Calendar
(Fiscal
(Fiscal
(Fiscal
Adj. Basis)
Basis)
Basis)
Basis)
February
6.2%
20.9%
25.1%
$62.5
$59.6
March
14.2
10.9
16.0
83.4
73.9
April
(1.0)
21.3
15.2
60.8
62.0
1st Quarter
7.0
17.1
18.4
206.7
195.5
(a) The 2001 Calendar Adjusted Basis column compares the thirteen week period starting on February 4, 2001 to the thirteen week period starting on February 6, 2000.
(b) The 2001 Fiscal Basis column compares the thirteen week period starting on February 4, 2001 to the thirteen week period starting on January 30, 2000.
During the fiscal month, the Company opened a store in Longview, Texas.
Stage Stores, Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small towns and communities throughout the south central United States. The Company currently operates a total of 342 stores in 13 states under the Stage, Bealls and Palais Royal names.
On the effective date of the Company's Plan of Reorganization, August 24, 2001, Stage Stores, Inc., a Delaware corporation, merged into its wholly-owned subsidiary, Specialty Retailers, Inc. (NV), a Nevada corporation (the "Merger Date"). On the Merger Date, Specialty Retailers, Inc. (NV), the surviving corporation, changed its name to Stage Stores, Inc. For all periods referenced, Stage Stores, Inc. and its predecessor in interest are both referred to above as "Stage Stores" or the "Company".
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