Posted: Jan 14, 2014 4:21 AM
Updated: Jan 14, 2014 4:21 AM
HOUSTON (AP) Stage Stores Inc. has lowered its full-year earnings forecast after disappointing sales during the recent holiday period.
CEO Michael Glazer says sales were strong in early November and during Thanksgiving and Black Friday, but that traffic slowed in the weeks leading up to Christmas. There were also six fewer shopping days during the holiday period.
Houston-based Stage Stores says total revenue for the November-December holiday period slipped to $427 million from $428 million. The company now anticipates 2013 adjusted earnings of $1.10 to $1.15 per share, down from a prior outlook of $1.20 to $1.30 per share.
Stage Stores operate under the Bealls, Goody's, Palais Royal, Peebles, Stage and Steele's names.