Stage Stores narrows third-quarter loss

Houston Stage Stores on Thursday reported a third-quarter net loss of $7.3 million, compared with a loss of $102.8 million in the year-ago period. For the quarter ended Oct. 31, net sales fell 3% to $324.9 million.

Andy Hall, president and CEO, commented, “We are pleased with our ability to once again manage our business and deliver better than originally expected results.

“While sales were in line with expectations, we are encouraged by the improving same-store sales trend throughout the quarter.”

During the quarter, the company opened 16 new stores, 13 of which were under the new Goody’s nameplate. Total number of Goody’s locations increased to 15. Year-to-date, the company has opened 27 new stores and reopened a hurricane-damaged store in Galveston, Texas.

“While our plans have not been finalized, we anticipate opening a similar number of new stores in 2010,” said Hall.