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Stage Stores’ Third Quarter Results Improve 22%; Company Raises 2012 Guidance

Mr. Glazer concluded, “We have confidence that our momentum will continue in the fourth quarter. Our new loyalty program with significantly enhanced benefits should certainly excite our private label credit card holders. In collaboration with our partner, Alliance Data, we just reissued new cards to more than 2 million customers. In addition, we have strong marketing campaigns and in-store initiatives planned for the fourth quarter, including some of our most exciting and compelling holiday offers and deals ever. For the first time, our stores will be open on Thanksgiving night from 8:00 p.m. to midnight. We will reopen our stores at 6:00 a.m. on Black Friday with continued door busters, deals and prizes.”

Updated Full Year 2012 Outlook

As a result of its better than projected performance over the first three quarters of the year, the Company has raised its comparable store sales and EPS guidance ranges for the full year. The Company expects that comparable store sales for the year will be in a range of 4.5% to 5.5%. EPS, excluding the $0.06 one-time charge, is projected to be between $1.20 and $1.28. Compared to last year’s EPS of $0.92, the current outlook represents a year-over-year EPS increase of 30% to 39%.

The Company noted that, beginning in fiscal 2013, it will no longer report monthly sales. The Company will report its sales on a quarterly basis at the same time that it reports its quarterly results.

  FY 2012 OUTLOOK     FY 2011
Sales ($mm) $1,633 - $1,646 $1,512
 
Diluted EPS $1.20 - $1.28 $0.92
 
Diluted Shares (m) 32,037 33,278
 

Conference Call Information

The Company will hold a conference call today at 8:30 a.m. Eastern Time to discuss its third quarter results. Interested parties can participate in the Company’s conference call by dialing 703-639-1356. Alternatively, interested parties can listen to a live webcast of the conference call by logging on to the Company's web site at www.stagestoresinc.com and then clicking on Investor Relations, then Webcasts and then the webcast link. A replay of the conference call will be available online until midnight on Friday, November 30, 2012.

About Stage Stores

Stage Stores, Inc. operates primarily in small and mid-sized towns and communities. Its stores, which operate under the Bealls, Goody’s, Palais Royal, Peebles, Stage and Steele’s names, offer moderately priced, nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family. The Company operates 866 stores in 40 states. The Company also has an eCommerce website. For more information about Stage Stores, visit the Company’s web site at www.stagestoresinc.com.

Caution Concerning Forward-Looking Statements

This document contains “forward-looking statements”. Forward-looking statements reflect our expectations regarding future events and operating performance and often contain words such as "believe", "expect", "may", "will", "should", "could", "anticipate", "plan" or similar words. In this document, forward-looking statements include comments regarding the Company’s expectations for Direct-To-Consumer sales for the 2012 fiscal year. Forward-looking statements also include comments regarding the Company’s expectations for sales, comparable store sales, EPS and diluted share count for the 2012 fiscal year. Forward-looking statements are subject to a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in our Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the "SEC") on March 28, 2012, and other factors as may periodically be described in our other filings with the SEC. Forward-looking statements speak only as of the date of this document. We do not undertake to update our forward-looking statements.

Stock quotes in this article: SSI 

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