HOUSTON -- Stage Stores' fiscal fourth-quarter profit rose 15% on increased sales. The department store operator said its board approved a new buyback of up to $200 million of its outstanding shares.
The department store operator reported net income of $32 million for the period ended Jan. 29, up from $27.9 million a year earlier.
Revenue rose 5% to $453.7 million, from $431.7 million. Analysts expected $453.5 million in revenue.
For the year, Stage Stores reported net income of $37.6 million, compared with $28.7 million in the prior year. Annual revenue improved to $1.47 billion from $1.43 billion.
Stage Stores has 784 stores in 39 states under the Bealls, Goody's, Palais Royal, Peebles and Stage banners.