HOUSTON (AP) — Department store chain Stage Stores Inc. said Thursday that May revenue at stores open at least a year rose 8 percent, easily beating Wall Street's expectations.
Analysts polled by Thomson Reuters forecast a 2.2 percent rise in the figure.
Revenue at stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed.
President and CEO Michael Glazer said in a statement that the company's performance was its biggest increase for May in the last 10 years. This was due in part to Mother's Day promotions.
Stage Stores said its strongest categories included cosmetics, footwear, home & gifts, petites and young men's.
Total revenue for the four weeks ended May 26 climbed 11 percent to $130 million.
For the first quarter, the company said that revenue at stores open at least a year rose 2.5 percent and total revenue increased 6 percent to $366 million.
Year-to-date revenue at stores open at least a year climbed 3.9 percent, with total revenue up 7 percent to $496 million.
Stage Stores, which is based in Houston, has 829 stores in 40 states. Earlier this month the company reported that its first-quarter loss narrowed at sales rose at both new and existing stores.