UPDATE: Stage Stores Posts Narrower-Than-Expected Q3 Loss

Stage Stores

reported a narrower-than-expected fiscal third-quarter loss. The Houston, Texas-based company posted a quarterly loss of $5.3 million, or $0.17 per share, versus a year-ago net loss of $11.0 million, or $0.34 per share. The company's loss from continuing operations came in at $5.1 million, or $0.16 per share. Its sales from continuing operations climbed 2.6% to $364.2 million in the period. However, analysts were projecting a loss of $0.21 per share on revenue of $360.5 million. Comparable sales rose 2.3% in the quarter. Michael Glazer, President and Chief Executive Officer, stated, “We are pleased with our third quarter results, driven by strong sales during the back-to-school period and encouraging initial selling of Fall assortments. We achieved positive comparable sales by balancing regular price and clearance sales and effectively managing our promotional and advertising plans.” Stage Stores affirmed its earnings outlook for the full year. The company projects full-year earnings of $1.05 to $1.15 per share. For the fourth quarter, the company expects comparable sales growth of flat to positive 2.0%. Stage Stores shares fell 1.25% to close at $15.74 yesterday.