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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
AUGUST 6, 1998
(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
(State or other jurisdiction of 76-0407711
incorporation or organization) (I.R.S. Employer Identifications No.)
10201 MAIN STREET, HOUSTON, TEXAS
(Address of principal executive 77025
offices) (Zip Code)
(713) 667-5601
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or address, if changed since last report)
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ITEM 5. OTHER EVENTS.
A press release regarding the Company's second quarter sales and certain
other matters was issued by the Company on August 6, 1998 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 August 6, 1998 issued by the Company.
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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.
AUGUST 6, 1998 /s/ JAMES A. MARCUM
(Date) James A. Marcum
Vice Chairman and
Chief Financial Officer
EXHIBIT 99.1
NEWS RELEASE
CONTACT:
Bob Aronson
Director of Investor Relations
(800) 579-2302
FOR IMMEDIATE RELEASE
STAGE STORES, INC. REPORTS SECOND QUARTER 1998 SALES
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HOUSTON, TX, August 6, 1998 -- Stage Stores, Inc. (NYSE: SGE) today reported
that sales for the second quarter ended August 1, 1998 increased 14.2% to $271.8
million from $238.1 million for the same period last year. Comparable store
sales for the thirteen-week period decreased 5.0%.
Sales for the six months ended August 1, 1998, increased 26.7% to $544.6 million
versus $429.7 million last year. Comparable store sales for the first six months
of 1998 decreased 1.0%.
Carl E. Tooker, Chairman, President and Chief Executive Officer, stated, "As a
result of the extreme weather and ensuing drought conditions which worsened
through July, we have seen a change in consumer confidence and shopping patterns
in a significant number of our markets. Although we operate stores in 28 states
across the country, the majority of our stores are located in markets affected
by these shopping pattern changes."
Mr. Tooker, continued, "As a result, our current expectations for earnings in
the second quarter are in the range of $0.02 to $0.05 per share. In addition,
based upon the current trends, we expect the earnings for the third quarter of
1998 to be substantially below the analysts' current consensus estimate. We also
believe that the fourth quarter of 1998 and full year 1999 results may be
affected due to the uncertainty of the severity and duration of these factors."
Mr. Tooker, concluded, "We continue to believe in the soundness of our
fundamentals, concept and strategies. We continue to expand in under-served
small towns and communities, and in fact, during the quarter, we opened 18 new
stores and completed the 15 store Tri-North lease purchase. Our current plans
are to open 70 stores this year and 100 stores next year. Small towns continue
to yield excellent long term economics, and will provide the Company with
abundant opportunities for future growth for years to come."
The Company also announced that it will host a conference call today, August 6,
1998 at 10:00 AM (Eastern Time). All those wishing to participate should call
(703) 736-7332. The Company's second quarter financial results will be reported
on Thursday, August 20, 1998.
Stage Stores, Inc. brings nationally recognized brand name family apparel,
accessories, cosmetics and footwear for the entire family to small towns and
communities throughout the central United States. The company operated 630
stores in 28 states at the end of the second 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.
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