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
January 7, 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's 1998 holiday
period sales results and certain other matters was issued by the
Company on January 7, 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 January 7, 1999 issued by the
Company.
<PAGE>
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.
January 7, 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 1998 HOLIDAY PERIOD SALES
______________________________
HOUSTON, TX, January 7, 1999 -- Stage Stores, Inc. (NYSE: SGE)
today reported that sales for the nine-week holiday period ended
January 2, 1999 decreased 3.6% to $296.7 million from $307.7
million for the same period last year. This year's total sales
are not comparable to last year since the 1997 holiday period
included approximately $36.0 million of liquidation sales
associated with the C.R. Anthony stores which were converted in
the spring of 1998. Comparable store sales decreased 7.8% during
the period.
Year-to-date sales for the forty-eight weeks ended January 2,
1999 increased 10.0% to $1,112.9 million as compared to $1,011.6
million for the prior year period. Comparable store sales for
the period decreased 3.3%.
Carl E. Tooker, Chairman, President and Chief Executive Officer,
stated, "We are extremely disappointed in these sales results
which reflect the negative impact of the unseasonably warm
weather that persisted throughout all of November and most of
December and the resulting increase in promotional activity. The
warm fall weather dampened consumers' Christmas buying enthusiasm
and caused them to delay their purchases of seasonal apparel. As
a result, we significantly increased our promotional activity to
stimulate sales of slow moving, weather-sensitive merchandise.
It is important to note that once more normal weather returned
the week of Christmas, our comp performance improved and, in
fact, was positive for the final two weeks of the month.
However, it was too late in the holiday sales period to make a
significant impact on the overall period results. The softness
in sales and the increased promotional activity will cause our
gross margins to be significantly below our historical
experience. Therefore, at this time we anticipate that our
earnings for the full fourth quarter will be significantly below
current expectations. Our earnings for the fourth quarter will
also be dependent upon January's business as well as normal year-
end adjustments."
<PAGE>
Stage Stores, Inc.
1998 Holiday Period Sales
Page - 2
Mr. Tooker, concluded, "We have prudently managed our inventories
during this period of uncertainty in order to ensure that we will
end the quarter well positioned to take advantage of the spring
selling season."
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 United
States. The company currently operates 680 stores in 34 states,
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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