Tag Archives: Michael Glazer

Business, Finance, Occupation & Industry

Stage Stores Announces Dividend Increase of 25 Percent

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By Business Wirevia The Motley Fool

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Stage Stores Announces Dividend Increase of 25 Percent

HOUSTON–(BUSINESS WIRE)– Stage Stores, Inc. (NYS: SSI) today announced that its Board of Directors approved an increase in the Company’s quarterly dividend rate to 12.5 cents per share from the previous rate of 10 cents per share. The new quarterly rate of 12.5 cents per share will be applicable to dividends declared by the Board beginning May 23, 2013.

“We are pleased to announce a significant dividend increase which demonstrates our commitment to return cash to shareholders and is supported by our expectations for future earnings and cash flow,” said Michael Glazer, President and Chief Executive Officer. “This 25 percent increase reflects our intent to create value through increasing shareholder distributions, and is a testament to the strength of our balance sheet and our confidence in delivering future growth.”

About Stage Stores

Stage Stores, Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody’s, Palais Royal, Peebles, Stage and Steele’s names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The Company operates 864 stores in 40 states. The Company also has an eCommerce website. For more information about Stage Stores, visit the Company’s web site at www.stagestoresinc.com.

Stage Stores, Inc.
Bob Aronson, 800-579-2302
Vice President, Investor Relations
baronson@stagestores.com

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

The article Stage Stores Announces Dividend Increase of 25 Percent originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Stage Stores to Present at Telsey Advisory Group's 5th Annual Spring Consumer Conference

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By Business Wirevia The Motley Fool

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Stage Stores to Present at Telsey Advisory Group’s 5 th Annual Spring Consumer Conference

HOUSTON–(BUSINESS WIRE)– Stage Stores, Inc. (NYS: SSI) announced today that Michael Glazer, President and Chief Executive Officer, and Ed Record, Chief Operating Officer, will make a presentation at Telsey Advisory Group‘s 5th Annual Spring Consumer Conference on Tuesday, April 9, 2013, at 10:00 a.m. Eastern Time. The conference is being held at The InterContinental Hotel New York Times Square in New York City.

A live webcast of the presentation will be available. To access the webcast, log on to the Company’s website at www.stagestoresinc.com and then click on Investor Relations, then Webcasts and then the webcast link. A replay of the presentation will be available online for approximately 30 days.

The PowerPoint presentation that management will be using at the conference will be available for viewing in the Investor Relations section of the Company’s website.

About Stage Stores

Stage Stores, Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody’s, Palais Royal, Peebles, Stage and Steele’s names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The Company operates 864 stores in 40 states. The Company also has an eCommerce website. For more information about Stage Stores, visit the Company’s web site at www.stagestoresinc.com.

Stage Stores, Inc.
Bob Aronson, 800-579-2302
Vice President, Investor Relations
baronson@stagestores.com

KEYWORDS:   United States  North America  New York  Texas

INDUSTRY KEYWORDS:

The article Stage Stores to Present at Telsey Advisory Group’s 5th Annual Spring Consumer Conference originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Stage Stores Reports Record Adjusted 2012 EPS of $1.33, 45% Higher Than 2011

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By Business Wirevia The Motley Fool

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Stage Stores Reports Record Adjusted 2012 EPS of $1.33, 45% Higher Than 2011

HOUSTON–(BUSINESS WIRE)– Stage Stores, Inc. (NYS: SSI) today reported financial results for the fourth quarter and fiscal year ended February 2, 2013. For the 2012 fiscal year, the Company reported adjusted earnings, excluding one-time items, of $42.6 million, or $1.33 per diluted share. This compares to earnings of $31.0 million, or $0.92 per diluted share, in fiscal 2011.

“2012 was a phenomenal year for Stage Stores and one that all of our shareholders and associates can be extremely proud of,” stated Michael Glazer, President and Chief Executive Officer. “We achieved strong gains in sales and earnings and made significant progress on our strategic initiatives. Total sales exceeded $1.6 billion and we achieved a 5.7% increase in comparable store sales, the highest percentage increase in over 10 years. Driven by our record sales, adjusted earnings per share increased by 45% to a record $1.33.”

New store growth included 25 traditional stores and 31 Steele’s stores during the year. Direct-To-Consumer sales increased 65% over last year. A new loyalty program with enhanced cardholder benefits was introduced and new cards were reissued to more than 2 million customers. Consistent with the Company’s intent to increase distributions to its shareholders, Stage Stores quarterly dividend rate was increased by 11%.

As the Company noted in its news release on February 11, 2013, it started the process of consolidating its department store operations into its Houston corporate headquarters. The Company expects the consolidation to increase efficiency, create synergies and enhance purchasing power and sales growth. The Company projects annual savings from the consolidation to be approximately $5 million.

One-time items, which total approximately $6.9 million for the year, were due to the consolidation of the Company’s South Hill, Virginia operations and the resignation of the Company’s former Chief Executive Officer in March 2012. Including these items, the Company’s net income for the fiscal year was $38.2 million, or $1.19 per diluted share. For the fourth quarter, the Company reported earnings of $35.8 million, or $1.09 per diluted share, compared to earnings of $32.7 million, or $1.05 per diluted share, for the prior year’s fourth quarter.

“From an operational standpoint, we strengthened our executive management team with the addition of Steve Lawrence, our Chief Merchandising Officer, and Bill Gentner, our Chief Marketing Officer, and with the promotion of Russ Lundy to EVP, Stores,” stated Mr. Glazer. “Through their guidance and leadership, and in collaboration with the other members of …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Stage Stores to Present at the Bank of America Merrill Lynch 2013 Consumer &amp; Retail Conference

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By Business Wirevia The Motley Fool

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Stage Stores to Present at the Bank of America Merrill Lynch 2013 Consumer & Retail Conference

HOUSTON–(BUSINESS WIRE)– Stage Stores, Inc. (NYS: SSI) announced today that Michael Glazer, President and CEO, and Oded Shein, CFO, will make a presentation at the Bank of America Merrill Lynch 2013 Consumer & Retail Conference on Wednesday, March 13, 2013, at 10:30 a.m. Eastern Time. The conference is being held at The New York Palace Hotel in New York City.

A live webcast of the presentation will be available. To access the webcast, log on to the Company’s website at www.stagestoresinc.com and then click on Investor Relations, then Webcasts and then the webcast link. A replay of the presentation will be available online for approximately 30 days.

The PowerPoint presentation that management will be using at the conference will be available for viewing in the Investor Relations section of the Company’s website.

About Stage Stores

Stage Stores, Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody’s, Palais Royal, Peebles, Stage and Steele’s names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The Company operates 864 stores in 40 states. The Company also has an eCommerce website. For more information about Stage Stores, visit the Company’s web site at www.stagestoresinc.com.

Stage Stores, Inc.
Bob Aronson, 800-579-2302
Vice President, Investor Relations
baronson@stagestores.com

KEYWORDS:   United States  North America  New York  Texas

INDUSTRY KEYWORDS:

The article Stage Stores to Present at the Bank of America Merrill Lynch 2013 Consumer & Retail Conference originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance