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Thursday, November 19, 2009
Stage Stores Trims Third-quarter Loss, Ups Outlook
By William L. Watts
MarketWatch Pulse
LONDON -- Stage Stores Inc. on Thursday reported a third-quarter net loss of $7.3 million, or 19 cents a share, compared to a loss of $102.8 million, or $2.66 a share, in the same period last year. Analysts surveyed by FactSet Research had produced a consensus forecast for a loss of 22 cents a share. Net sales fell 3% to $324.9 million. The Houston-based department-store retailer raised its fourth-quarter comparable-store sales outlook to a decrease of 4% to 7% from a previous forecast of a fall of 5% to 8%. The company said it now expects fourth-quarter earnings of 56 to 66 cents a share, compared to 54 to 65 cents. For the full year, the company said it now expects earnings of 59 to 69 cents a share, compared to its previous forecast of 47 to 65 cents.
Copyright © 2009 MarketWatch, Inc.
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