The Company will emcee a discussion convene today at 8:30 a.m. Eastern Time to chat about its fourth board results. Interested parties can participate in the Company's convention cause by dialing 703-639-1410.
Alternatively, prejudicial parties can hear to a last webcast of the congress call in by logging on to the Company's trap situation at www.stagestores.com and then clicking on Investor Relations, then Webcasts, then the webcast link. A replay of the colloquy nickname will be present online until midnight on Friday, March 20, 2009. About Stage Stores Stage Stores, Inc. brings nationally recognized tag appellation apparel, accessories, cosmetics and footwear for the inviolate kinfolk to diminutive and mid-size towns and communities through 738 stores located in 38 states.
The Company operates its stores under the four names of Bealls, Palais Royal, Peebles and Stage. For more data about Stage Stores, fall upon the Company's snare locale at www.stagestores.com. Caution Concerning Forward-Looking Statements This authenticate contains "forward-looking statements".
Forward-looking statements throw back our expectations concerning time to come events and operating act and often check words such as "believe", "expect", "may", "will", "should", "could", "anticipate", "plan" or comparable words. In this document, forward-looking statements subsume comments anenst the Company's sales and income projections for the commencement locality of the 2009 monetary year and extensive 2009 economic year. Forward-looking statements are enslave to a compute of risks and uncertainties which could cause real results to distinct materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not meagre to, those described in our Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the "SEC") on April 1, 2008, in our Quarterly Report on Form 10-Q as filed with the SEC on December 9, 2008 and other factors as may periodically be described in our other filings with the SEC.
Forward-looking statements articulate only as of the go steady of this document. We do not take on to update our forward-looking statements. Stage Stores, Inc. Condensed Consolidated Statements of Operations (in thousands, leave out stipend per share) (Unaudited) Thirteen Weeks Ended January 31, 2009 February 2, 2008 Amount % to Sales (1) Amount % to Sales (1) Net sales $ 455,821 100.0 % $ 473,010 100.0 % Cost of sales and kin buying, occupancy and dispersal 323,113 70.9 % 326,357 69.0 % expenses Gross help 132,708 29.1 % 146,653 31.0 % Selling, unrestricted and administrative expenses 89,969 19.7 % 93,359 19.7 % Store pit costs 600 0.1 % 978 0.2 % Interest expense, web of gain of $12 and $0, severally 1,329 0.3 % 1,744 0.4 % Income before revenue dues 40,810 9.0 % 50,572 10.7 % Income demand detriment 15,475 3.4 % 18,921 4.0 % Net return $ 25,335 5.6 % $ 31,651 6.7 % Basic and diluted proceeds per dispensation data: Basic pay per interest $ 0.67 $ 0.80 Basic weighted usual shares smashing 37,951 39,742 Diluted take per stake $ 0.67 $ 0.78 Diluted weighted undistinguished shares first-rate 37,994 40,462 (1) Percentages may not foot due to rounding. Stage Stores, Inc. Condensed Consolidated Statements of Operations (in thousands, excuse revenue per share) (Unaudited) Fifty-Two Weeks Ended January 31, 2009 February 2, 2008 Amount % to Sales (1) Amount % to Sales (1) Net sales $ 1,515,820 100.0 % $ 1,545,606 100.0 % Cost of sales and cognate buying, occupancy and cataloguing 1,106,236 73.0 % 1,100,892 71.2 % expenses Gross clear 409,584 27.0 % 444,714 28.8 % Selling, sweeping and administrative expenses 351,246 23.2 % 350,248 22.7 % Store birth costs 6,479 0.4 % 4,678 0.3 % Goodwill worsening 95,374 6.3 % - 0.0 % Interest expense, grid of profit of $23 and $0, mutatis mutandis 5,216 0.3 % 4,792 0.3 % (Loss) proceeds before takings pressure (48,731 ) -3.2 % 84,996 5.5 % Income rate ruin 16,804 1.1 % 31,916 2.1 % Net (loss) receipts $ (65,535 ) -4.3 % $ 53,080 3.4 % Basic and diluted return per allocate data: Basic (loss) yield per helping $ (1.71 ) $ 1.27 Basic weighted mediocre shares unforgettable 38,285 41,764 Diluted (loss) wages per allocation $ (1.71 ) $ 1.24 Diluted weighted commonplace shares famous 38,285 42,720 Non-U.S. GAAP Supplemental Information Net (loss) income: On a U.S. GAAP principle $ (65,535 ) $ 53,080 Add back: Goodwill deterioration 95,374 - On a non-U.S. GAAP underpinning $ 29,839 $ 53,080 Diluted (loss) takings per share: On a U.S. GAAP bottom $ (1.71 ) $ 1.24 Add back: Goodwill injury 2.49 - On a non-U.S. GAAP foundation $ 0.77 $ 1.24 (1) Percentages may not foot due to rounding. Stage Stores, Inc. Condensed Consolidated Balance Sheets (in thousands, exclude level values) (Unaudited) January 31, 2009 February 2, 2008 ASSETS Cash and bread equivalents $ 26,278 $ 17,028 Merchandise inventories, make 314,517 342,622 Current deferred taxes 385 32 Prepaid expenses and other present assets 30,439 43,557 Total stylish assets 371,619 403,239 Property, tack and leasehold improvements, reticle 367,135 329,709 Goodwill - 95,374 Intangible advantage 14,910 14,910 Other non-current assets, lace-work 14,379 28,258 Total assets $ 768,043 $ 871,490 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts owed $ 97,760 $ 94,505 Current percentage of obligation obligations 11,161 6,158 Accrued expenses and other popular liabilities 60,727 66,538 Total undercurrent liabilities 169,648 167,201 Debt obligations 45,851 94,436 Deferred taxes 8,208 - Other long-term liabilities 94,333 89,007 Total liabilities 318,040 350,644 Commitments and contingencies Common stock, standard value $0.01, 100,000 shares authorized, 55,849 558 551 and 55,113 shares issued, separately Additional paid-in money 494,765 479,960 Less cache carry - at cost, 17,986 and 16,907 shares, singly (286,751 ) (277,691 ) Accumulated other sweeping breakdown (5,138 ) (1,766 ) Retained emolument 246,569 319,792 Stockholders' open-mindedness 450,003 520,846 Total liabilities and stockholders' impartiality $ 768,043 $ 871,490 Stage Stores, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited) Fifty-Two Weeks Ended January 31, 2009 February 2, 2008 Cash flows from operating activities: Net (loss) income $ (65,535 ) $ 53,080 Non-cash goodwill lessening 95,374 - Net income adjusted for non-cash goodwill flaw 29,839 53,080 Other adjustments to together earnings income to openwork gelt provided by operating activities: Depreciation and amortization 58,985 49,699 Deferred income taxes 11,419 21,095 Stock-based compensation exhaust benefits 1,356 3,816 Stock-based compensation impairment 7,671 7,695 Amortization of liability outgoing costs 263 239 Excess encumbrance benefits from stock-based compensation (2,207 ) (3,801 ) Deferred compensation 494 - Construction allowances from landlords 17,536 18,765 Changes in operating assets and liabilities: Decrease (increase) in produce inventories 28,105 (9,859 ) Decrease (increase) in other assets 25,319 (4,531 ) Decrease in accounts outstanding and other liabilities (15,997 ) (11,663 ) Net readies provided by operating activities 162,783 124,535 Cash flows from investing activities: Additions to property, outfit and leasehold improvements (99,841 ) (95,311 ) Proceeds from car-boot sale of realty and gear 3 41 Net lolly old in investing activities (99,838 ) (95,270 ) Cash flows from financing activities: Proceeds from (payments on): Borrowings under revolving credence facility, take in (63,504 ) 49,869 Repurchases of prevalent genealogy (9,060 ) (112,597 ) Finance rent obligations 2,640 1,850 Equipment financing 24,846 32,419 Debt obligations (7,564 ) (158 ) Debt issuance costs (248 ) (589 ) Exercise of pedigree options and furnish thankfulness rights 4,687 5,712 Excess try benefits from stock-based compensation 2,207 3,801 Cash dividends (7,699 ) (8,410 ) Net banknotes cast-off in financing activities (53,695 ) (28,103 ) Net proliferation in loot and hard cash equivalents 9,250 1,162 Cash and change equivalents: Beginning of span 17,028 15,866 End of interval $ 26,278 $ 17,028 SOURCE: Stage Stores, Inc. Stage Stores, Inc. Bob Aronson, 800-579-2302 Vice President, Investor Relations baronson@stagestores.com Copyright Business Wire 2009 ********************************************************************** As of Friday, 03-06-2009 23:59, the most recent Comtex SmarTrend� Alert, an automated measure admission system, indicated an UPTREND on 11-26-2008 for SSI @ $5.46. For more message on SmarTrend, connection your exchange details provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2009 Comtex News Network, Inc. All rights reserved.
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