UPDATE: Stage Stores Posts Wider Q3 Loss, Lowers View

Stage Stores SSI posted a wider fiscal third-quarter loss and cut its forecast. Stage Stores now expects same-store sales drop of 1.1% to 0.5%. It lowered its adjusted earnings outlook for the year to $1.20 to $1.30 per share versus $1.30 to $1.40 per share. The company also cut its revenue view to $1.64 billion to $1.65 billion versus $1.67 billion to $1.69 billion. Stage Stores posted a quarterly loss of $11 million, or $0.34 per share, versus a year-ago loss of $8.9 million, or $0.28 per share. Excluding one-time items, it earned $0.26 per share. Its revenue climbed 2.8% to $360.2 million. However, analysts were expecting a loss of $0.26 per share on revenue of $375.6 million. Stage Stores shares closed at $21.61 yesterday.