Stage Stores meets quarterly guidance

HOUSTON, Tex. Stage Stores reported net income for the second quarter ended Aug. 1 of $9.1 million, or 24 cents per diluted share, compared with net income of $9.7 million, or 25 cents per diluted share, for the prior year second quarter ended Aug. 2.

The company is projecting a third quarter comparable store sales decrease of 4% to 7%, and a fourth quarter comparable-store sales decrease of 5% to 8%. For the fiscal year, the company is projecting a comparable-store sales decrease of 7% to 8.5%. In addition, Stage Stores is raising the low end of its EPS guidance range for the fiscal year, and is now projecting 47 cents to 65 cents.