Stage Stores Ups Low End Of '09 Profit View Range

HOUSTON (AP) — Stage Stores Inc. raised the low end of its fiscal 2009 profit guidance range again after its second-quarter earnings results beat analysts' estimates, but trimmed its annual sales forecast.

Stage Stores now anticipates yearly net income in a range of 47 cents to 65 cents per share, compared with a prior forecast of 40 cents to 65 cents per share. Previously, the company projected income between 35 cents and 65 cents per share.

The department store operator said it now expects full-year sales between $1.42 billion and $1.44 billion, down from its May forecast of $1.43 billion to $1.47 billion.

Analysts predict full-year net income of 60 cents per share on revenue of $1.44 billion, according to a Thomson Reuters survey. Analysts' estimates normally exclude one-time items.

Stage Stores said that it expects its same-store sales results will be helped by easier comparisons, a more favorable holiday calendar, the anniversary of Hurricane Ike next month and Goody's exiting over 100 of its markets.

Same-store sales, or sales at stores open at least a year, are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.