UPDATE: Stage Stores Q4 Earnings Beat Estimates

reported better-than-expected earnings for the fiscal fourth quarter. The Houston, Texas-based company posted quarterly earnings of $43.7 million, or $1.36 per share, compared to $24.9 million, or $0.78 per share, in the year-ago period. Its revenue climbed 6.6% to $524.9 million. However, analysts were estimating earnings of $1.35 per share on revenue of $530.21 million. Comparable sales rose 6.4% in the quarter. The company opened 3 stores and closed 4 stores during the quarter. Michael Glazer, President and Chief Executive Officer, said, "We plan to build upon our success with several key priorities for 2015, including driving improved store productivity, expanding our omni-channel capabilities and direct-to-consumer sales, upgrading our store base through remodels, and building a service culture focused on our customers. As we execute on these initiatives we believe we can drive long term earnings growth and shareholder value." Stage Stores projects full-year earnings of $1.20 to $1.28 per share, on revenue of $1,640 to $1,675 million. Analysts had expected earnings of $1.37 per share on revenue of $1.68 billion. The company plans to open 2 stores and close 10 to 20 stores in 2014. Stage Stores shares gained 1.11% to $20.95 in pre-market trading.