Stage Stores Oct. sales comparison edges down

HOUSTON (AP) — Department storeoperator Stage Stores Inc. said Thursday that sales in stores open at least one year edged down 0.1 percent, but results beat analyst expectations.

Analysts surveyed by Thomson Reuters, on average, expected same-store sales to fall 4.4 percent.

Total sales rose 3 percent to $101 million from $99 million a year ago.

Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones.

Dresses, footwear, intimates, juniors and men's sold better than the same month a year ago. The Southwest, South Central and Southeast regions also sold better than a year ago when consumer spending fell sharply.

For the quarter ended Oct. 31, sales fell 2.6 percent to $325 million from $334 million last year, ahead of analyst expectations of $322.9 million.

Sales in stores open at least one year fell 5.4 percent during the quarter.