This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stage Stores Reports First Quarter Results

Stocks in this article: SSI

Stage Stores, Inc. (NYSE: SSI) today reported financial results for the first quarter ended May 3, 2014.

Total sales from continuing operations for the first quarter were $372 million. Comparable store sales for the quarter decreased 0.2%. The Company noted that its cosmetics, children’s, misses sportswear and footwear categories all had comparable store sales increases for the quarter. Geographically, the Northwest, Southwest and Southeast regions all outperformed.

The Company reported a loss for the quarter from continuing operations of $12.0 million, or $0.38 per share. Results from continuing operations exclude the sale of the Steele’s division that was completed on March 7, 2014.

Commenting on the Company’s first quarter results, Michael Glazer, President and Chief Executive Officer, stated, “Comparable store sales were flat in a volatile first quarter, marked by a highly promotional retail environment and unseasonable weather. Our results were also impacted by our sales mix for the quarter, which was heavily weighted with clearance goods. While this hurt our gross margin, we feel very good about our inventory content heading into the rest of the year.”

Reported Results

Including discontinued operations, the Company reported a net loss for this year’s first quarter of $18.8 million, or $0.60 per share. For last year’s first quarter, including discontinued operations and one-time items, the Company reported a net loss of $6.9 million, or $0.21 per share. One-time items recorded in the prior year were associated with the consolidation of the Company’s South Hill, Virginia operations into its Houston headquarters and totaled approximately $9.7 million, or $0.19 per share.

Full Year 2014 Guidance

The Company is maintaining its comparable store sales guidance range for the year of flat to up 2%, as well as its EPS guidance range from continuing operations of $1.25 to $1.35.

   
FY 2014 OUTLOOK* FY 2013*
Sales ($mm) $1,640 - $1670 $1,610
 
EPS $1.25 - $1.35 $1.22**
 
Diluted Shares (m) 32,300 32,311

*From continuing operations.

**Adjusted to exclude one-time items.

 

Store Activity

The Company reported that it opened seven new stores and closed two stores during the first quarter. Bealls stores were opened in Truth or Consequences, NM and Carson City and Fallon, NV; Goody’s stores were opened in Beaver Dam, KY and Sylacauga, AL; and Peebles stores were opened in Wadsworth, OH and Waynesburg, PA. The Company also installed 13 Estee Lauder and 13 Clinique counters during the quarter.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,088.00 +57.79 0.32%
S&P 500 2,091.38 +9.50 0.46%
NASDAQ 4,811.2280 +37.7560 0.79%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs