-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VDtu2uoh1w45qpnPNnQk93o8Mo51v+LatgZDMcvYEF1JT2QumTQiAdy5km98i7BR 8oLotvF85NDX0kfG44ePzA== 0000006885-99-000047.txt : 19991105 0000006885-99-000047.hdr.sgml : 19991105 ACCESSION NUMBER: 0000006885-99-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991104 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STAGE STORES INC CENTRAL INDEX KEY: 0000006885 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 760407711 STATE OF INCORPORATION: DE FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14035 FILM NUMBER: 99741018 BUSINESS ADDRESS: STREET 1: 10201 MAIN ST CITY: HOUSTON STATE: TX ZIP: 77025 BUSINESS PHONE: 7136675601 MAIL ADDRESS: STREET 1: 10201 MAIN STREET CITY: HOUSTON STATE: TX ZIP: 77025 FORMER COMPANY: FORMER CONFORMED NAME: APPAREL RETAILERS INC DATE OF NAME CHANGE: 19930908 8-K 1 FORM 8-K UNITED STATES 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 November 4, 1999 (Date of Report, date of earliest event reported) Stage Stores, Inc. (Exact name of registrant as specified in its charter) Commission file number 001-14035 DELAWARE 76-0407711 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identifications No.) 10201 Main Street, Houston, 77025 Texas (Zip Code) (Address of principal executive offices) (713) 667-5601 (Registrant's telephone number, including area code) Not Applicable (Former name or address, if changed since last report) ITEM 5. Other Events. A press release regarding the Company's third quarter 1999 sales results and certain other matters was issued by the Company on November 4, 1999 and is attached hereto as Exhibit 99.1. ITEM 7. Financial Statements and Exhibits. (a) Financial statements of business acquired. Not applicable. (b) Pro forma financial information. Not applicable. (c) Exhibits. 99.1 Press release dated November 4, 1999 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, thereunto duly authorized. STAGE STORES, INC. November 4, 1999 /s/ James A. Marcum (Date) James A. Marcum Vice Chairman and, Chief Financial Officer EX-99.1 2 Exhibit 99.1 NEWS RELEASE CONTACT: Bob Aronson Director of Investor Relations (800) 579-2302 FOR IMMEDIATE RELEASE STAGE STORES, INC. REPORTS THIRD QUARTER 1999 SALES ______________________________ HOUSTON, TX, November 4, 1999 -- Stage Stores, Inc. (NYSE: SGE) today reported sales for the third quarter ended October 30, 1999 of $264.4 million as compared to $271.6 million for the same period last year. The decrease in sales primarily reflects the closure of stores included in the Company's previously announced Store Closure Program as well as a reduction in the level of clearance activities during the quarter. Comparable store sales for the third quarter of 1999 declined 3.8%. Commenting on the results, Carl E. Tooker, Chairman, President and Chief Executive Officer, stated, "The decline in comparable store sales for the third quarter was driven by the reduction in the level of clearance activities during the early part of the quarter this year (primarily August) as compared to last year. Last year, we liquidated our excess Spring and Summer clearance merchandise through aggressive promotional events which generated artificially high sales at very low margin levels. Due to our inventory management initiatives which we have focused on throughout the year, the level of seasonal clearance merchandise on hand at the beginning of the quarter was significantly below last year. The lower level of clearance inventories had a significant impact on our volume, and as a result, our comparable store sales for the early part of the quarter declined. Comparable store sales for the remainder of the quarter improved and, in fact, were basically flat with last year reflecting the progress that we have made to date in transitioning our merchandise mix." Mr. Tooker further stated, "During the quarter, we continued to focus on the mix and overall levels of our inventories and feel that we made significant progress as we closed the quarter towards positioning our inventories for the important holiday selling season. In addition, we have substantially completed our previously announced Store Closure Program by closing 33 of the 35 stores in the program. The last 2 stores in the program will close after the holiday season." Mr. Tooker concluded, "With respect to our working capital facility, we ended the quarter with $161.2 million outstanding under the facility as compared to $180.4 million at the end of the third quarter of last year and continue to be in full compliance with all of our financial covenants. At this time, our earnings for the third quarter have not been finalized. We expect to release our earnings on November 18, 1999." Stage Stores, Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small towns and communities throughout the United States. The company operated 654 stores in 33 states at the end of the third quarter, primarily under the Stage, Bealls and Palais Royal trade names. Any statements in this press release that may be considered forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are discussed in periodic reports filed by the Company with the Securities and Exchange Commission that the Company urges investors to consider. # # # -----END PRIVACY-ENHANCED MESSAGE-----