Stage Stores Reports Q3 EPS $(0.36) vs $(0.31) Est; Revenues $333.5M vs $334.41M Est

Stage Stores, Inc. (NYSE: SSI) today reported a net loss for the third quarter ended October 29, 2011 of $11.3 million, or $0.36 per share, versus a net loss of $6.9 million, or $0.18 per share, for the prior year third quarter. For the first three quarters of the fiscal year, the Company had a net loss of $1.8 million, or $0.05 per share. This compares to net income of $5.7 million, or $0.15 per diluted share, last year.

Commenting on the Company's third quarter results, Andy Hall, President and Chief Executive Officer, stated, “Our third quarter sales and gross margin results reflect the continuing economic pressure on our core moderate income customer and her sensitivities to rising fuel, food and apparel prices. In the quarter, we experienced markdown pressure from an increased promotional environment, the inability to pass through recent cost increases and our commitment to keep our inventory clean. As we enter the holiday shopping period we are pleased with the content and freshness of our merchandise. Our inventories at quarter-end were up 2.0% on a comparable store basis.”