Stage Stores' Q2 profit rises 13.6%

Houston Stage Stores reported Thursday that second-quarter net income rose 13.6% to $10.3 million, compared with net income of $9.1 million a year earlier. The department store chain cited lean inventories for the improvement.

The chain also announced Thursday that its board approved a new stock repurchase program.

Revenue reached $345 million, up from $341.7 million a year ago.

Analysts expected revenue of $352.3 million.