Stage Stores net sales jump 7% to record level of $310.1mn in Q1
19 May '05
5 min read
Fiscal 2005 - Full Year:
Updating its outlook for the 2005 fiscal year ending January 28, 2006, to include actual first quarter results, the Company currently anticipates reporting revenues in the range of $1.320 to $1.340 billion, with the expectation of a comparable store sales increase in the upper low single digits. Net income is currently projected to be in the range of $55.0 to $57.4 million, or earnings of $2.78 to $2.90 per diluted share, which is unchanged from the Company's previous guidance range for the fiscal year. The Company's forecast compares to earnings of $51.4 million, or $2.58 per diluted share, for the 2004 fiscal year. In projecting diluted earnings per share for the 2005 fiscal year, the Company used an estimated diluted share count of 19.8 million shares.
In comparing this year's net income forecast to last year's actual results, the Company noted that its 2005 outlook includes non-recurring costs expected to be incurred in connection with the closure of its Knoxville, Tennessee, distribution center, which is anticipated to occur in the fourth quarter, as well as expenses associated with improvements being made to its South Hill, Virginia, distribution center and merchandising system. The Company currently estimates that these expenses will total, after tax, approximately $1.5 million, or $0.07 to $0.08 per diluted share.
Stage Stores Inc brings nationally recognized brand name apparel, accessories, cosmetics and footiotionally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small towns and communities through 537 stores located in 29 states. The Company operates under the Stage, Bealls and Palais Royal names throughout the South Central states, and under the Peebles name throughout the Mid-Atlantic, Southeastern and Midwestern states.
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