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
February 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)
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ITEM 5. Other Events.
A press release regarding the Company announcing fourth
quarter 1998 sales and certain other matters was issued by the
Company on February 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 February 4, 1999 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.
February 4, 1999 /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 FOURTH QUARTER 1998 SALES
______________________________
HOUSTON, TX, February 4, 1999 -- Stage Stores, Inc. (NYSE: SGE)
today reported that sales for the fourth quarter ended January
30, 1999 decreased 3.3% to $357.3 million from $369.4 million for
the same period last year. This year's fourth quarter sales are
not comparable to last year since the fourth quarter of 1997
included approximately $46.4 million of liquidation sales
associated with the C.R. Anthony stores which were converted in
the spring of 1998. Comparable store sales decreased 5.7% during
the period.
For the full year ended January 30, 1999, sales increased 9.3 %
to $1,173.5 million as compared to $1,073.3 million for the prior
year period. Comparable store sales for the year decreased 3.0%.
Commenting on the results, Carl E. Tooker, Chairman, President
and Chief Executive Officer, stated, "The improvement in our
comparable store sales performance over the nine-week Christmas
selling period was primarily driven by the continued aggressive
clearance of our fall and winter merchandise during January. In
fact, comparable store sales for the four weeks ended January 30,
1999 increased by 5.4%. As a result of these aggressive
clearance activities, the amount of clearance product we will be
carrying into the first quarter of 1999 will be below our earlier
expectations. However, due to these clearance initiatives, our
gross margins and earnings for the full fourth quarter will be
substantially below the current analysts' expectations."
Mr. Tooker, concluded, "As we have discussed earlier, our goal
has been to ensure that we successfully transitioned our
inventory out of a difficult fall and winter selling season and
into our spring assortments. As a result of these efforts, we
believe that we will be well positioned as we move into the
spring selling season without carrying a significant amount of
clearance inventory into fiscal 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 679 stores in 34 states at the end
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of the fourth 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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