Loading...
Loading...
Stage Stores
SSI reported an 18% drop in its fiscal second-quarter profit and lowered its forecast for the full year.
Stage Stores lowered its same-store sales growth view to 0.6% to 1.6%, versus its earlier forecast of 2% to 4%. It also cut its adjusted full-year earnings outlook to a range of $1.30 to $1.40 per share, and slashed its revenue forecast to $1.67 billion to $1.69 billion from its previous forecast of $1.7 billion to $1.73 billion.
Stage Stores posted its quarterly profit of $9.6 million, or $0.29 per share, from a year-earlier profit of $11.7 million, or $0.37 per share. Excluding one-time items, it earned $0.41 per share.
Its revenue climbed 3.6% to $395.3 million. However, analysts were expecting a profit of $0.46 per share on revenue of $382 million.
Its same-store sales climbed 1.7%.
Stage Stores shares closed at $21.29 yesterday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in