UPDATE: Stage Stores Posts Narrower Q3 Loss, Lifts 2012 Forecast

Stage Stores

posted a narrower fiscal third-quarter loss. Stage Stores lifted its full-year adjusted earnings forecast to $1.20 to $1.28 per share on sales of $1.63 billion to $1.65 billion. The company had earlier expected earnings of $1.15 to $1.25 per share on sales of $1.61 billion to $1.62 billion. Stage Stores posted a quarterly loss of $8.86 million, or $0.28 per share, versus a year-ago loss of $11.3 million, or $0.36 per share. However, analysts were expecting a loss of $0.30 per share. Its gross margin climbed to 21.6% from 21.3%, while sales rose 11% to $371 million. Stage Stores shares closed at $23.44 yesterday.