UPDATE: Stage Stores Posts Q1 Results, Lifts Full-Year Sales Forecast

Stage Stores Inc SSI reported a narrower fiscal first-quarter loss. Stage Stores also lifted its full-year sales forecast to between $1.59 billion and $1.62 billion, versus its earlier view of $1.58 billion to $1.61 billion. Stage Stores posted a quarterly loss of $418,000, versus a year-ago loss of $461,000. On a per-share basis, Stage Stores posted a loss of $0.01 per share. Excluding items, Stage Stores' adjusted earnings came in at $0.05 per share. However, analysts were expecting a loss of $0.02 per share. Its gross margin climbed to 25.7% from 24.6%. Its total sales surged 5.5% to $366 million, while same-store sales gained 2.5%. Stage Stores shares closed at $16.36 yesterday.