Stage Stores Posts Narrower-Than-Expected Q1 Loss, But Sales Miss Views

Stage Stores Inc (NYSE: SSI) reported a narrower-than-expected loss for the first quarter on Tuesday, but the company's sales missed analysts' estimates.The Houston, Texas-based company reported a quarterly loss of $8.6 million, or $0.27 per share, versus a year-ago loss of $18.8 million, or $0.60 per share. The company's earnings from continuing operations dropped to $0.27 per share from $0.38 per share.Its revenue climbed to $369.3 million from $372.0 million. However, analysts were expecting a loss of $0.28 per share on revenue of $379.92 million.The average estimate among 4 Estimize users was for a loss of $0.28 per share and revenue of $379.61 million.Its comparable sales slipped 1.1 percent, while direct-to-consumer sales climbed 31 percent."Despite difficult market conditions and a marketing calendar shift, we are pleased with the 29% earnings improvement over last year," said Michael Glazer, President and Chief Executive Officer. "We delivered expanded merchandise margins and grew our direct-to-consumer business by 31%, while controlling our expenses. We are thrilled with our record Mother's Day sales, which moved our year-to-date comp sales into positive territory after 14 weeks. As we look ahead, we remain confident that we will deliver our expected sales and earnings growth in 2015."The Company reiterated its earlier forecast for 2015. Stage Stores projects earnings of $1.20 to $1.28 per share.Stage Stores shares gained 1.68 percent to close at $18.74 yesterday.