Houston Stage Stores said Tuesday its profit dropped 20% in its fourth quarter as sales declined amid a consumer spending pullback. The results topped Wall Street's expectations.
Stage Stores, which runs shops under the Bealls, Palais Royal, Peebles and Stage brands, said its earnings fell to $25.3 million in the three months ended Jan. 31, compared with $31.7 million a year ago.
Sales declined 4% to $455.8 million from $473 million a year ago. Analysts expected lower revenue of $453.4 million.