Stage Stores loss narrows, ups outlook

HOUSTON, Tex. Stage Stores reported positive third quarter results and increased outlook.

The company reported a net loss for third quarter ended Oct. 31 of $7.3 million, or 19 cents per share, compared with a net loss of $102.8 million, or $2.66 per share, for the prior year third quarter ended Nov. 1 the year prior. Net sales were $324.94 million, compared to $333.76 million in the same period the year prior.

Commenting on the company’s updated guidance, Andy Hall, president and CEO, stated, “Although unemployment has topped 10% and we anticipate challenging economic conditions during the fourth quarter, we are raising our fourth quarter comparable-store sales outlook to a decrease of 4% to 7% from the decrease of 5% to 8% provided in August. For the fiscal year, we are projecting a comparable-store sales decrease of 7% to 8%.”