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Stage Stores Q3 loss widens; cuts forecast
New York -- Stage Stores said Thursday that its fiscal third-quarter loss widened as some expenses rose. The company cut its fiscal 2013 adjusted earnings forecast.
The department store retailer lost $11 million for the period ended Nov. 2, compared to a loss of $8.9 million.
Revenue declined 3% to $360.2 million, from $370.6 million. Same-store sales fell 4.6%.
Selling, general and administrative expenses climbed to $98.6 million from $92.5 million during the quarter. Interest expense increased to $718,000 from $568,000. -
Premium Outlets expands in Johor Malaysia
Johor, Malaysia — Genting Simon, a joint venture between Genting Group and Simon Property Group, has announced the opening of the second phase of Johor Premium Outlets in Johor, Malaysia.
The expansion has added 40 new stores and 100,000 sq. ft. to the center, bringing the store total to 120.