Stage Stores Reports Q4 Earnings
Houston Stage Stores reported Tuesday that net income for the 13-week fourth quarter ended Feb. 2, 2008, was $31.7 million, compared to a net income of $39.6 million for the 14-week 2007 fourth quarter, ended Feb. 3, 2007.
Total sales for the 52-week 2007 fiscal year were $1.54 million vs. $1.55 million for the 53-week 2006 fiscal year. Comparable-store sales for the fiscal year decreased 1.1% compared to an increase of 3.5% last year.
Net income for the 2007 fiscal year was $53.1 million, compared to $55.3 million the prior year.
During 2007, the company opened 47 new stores and entered two new states. It also began construction on its third distribution center in Jeffersonville, Ohio.
This year, the company plans to open approximately 70 more stores.