With Halloween coming up, many apparel stores are ramping up for the expected demand for seasonal costumes; after all, an estimated 158 million people participated in Halloween activities last year, and it is fair to assume that most, if not all, were in costume. Not all apparel stores sell Halloween costumes or items that can be used by customers to make their own costumes, of course, but some, like Stage Stores (SSI, Financial), a department store company that operates 850 stores under different names in 40 states, do.
It may have been in anticipation of the Halloween season that Stage Stores’ president and CEO, Michael L. Glazer, purchased 10,000 shares of company stock Tuesday, increasing his total holdings in the company to 284,184 shares. At $16.23 per share, the transaction cost $163,200. The price is a little more than half the stock’s high-water mark of $28.07 nearly 17 months ago.
SSI stock closed at $16.27 on Wednesday.
The Houston, Texas-based company was founded in 1988. Most of its stores are found in small and medium-sized communities, and they employ more than 14,000 people. Sales in fiscal year 2013 exceeded $1.5 billion. In addition to offering apparel and accessories, Stage Stores also sell a wide selection of items for the home.
Two of the gurus followed by GuruFocus, Paul Tudor Jones (Trades, Portfolio) and John Keeley (Trades, Portfolio), purchased stock in Stage Stores in June. GuruFocus rates Stage Stores’ financial strength at 8/10 and its profitability at 6/10.
