UPDATE: Stage Stores FQ4 Net Income Rises 2.3%

Stage Stores Inc

reported a 2.3% rise in its fiscal fourth-quarter earnings. Stage Stores projects full-year earnings of $1.02 to $1.14 per share on sales of $1.58 billion to $1.61 billion. However, analysts were expecting earnings of $1.21 per share on sales of $1.56 billion. Stage Stores' quarterly profit climbed to $32.7 million, or $1.05 per share, from $32 million, or $0.86 per share, in the year-ago period. It expected earnings of $1.17 to $1.23 per share. Stage Stores' sales climbed 5.6% to $479.1 million, versus its November forecast of $464 million to $473 million. Stage Stores' gross margin declined to 31.4% from 32.2% Stage Stores shares closed at $14.35 yesterday.