NEW YORK (TheStreet) -- Shares of Stage Stores Inc. (SSI - Get Report) are down -6.76% to $17.25 in pre-market trade after the retailer missed fiscal second quarter profit expectations and lowered its full year outlook, the Wall Street Journal reports.
The company cut its full year per share profit forecast to $1.05 to $1.15, from $1.25 to $1.35.
Stage Stores earned $11.2 million, or 35 cents per share in the quarter, up from $9.6 million, or 29 cents a share a year ago.
Excluding non-recurring items, the adjusted per-share profit was 45 cents, below the FactSet consensus analyst estimate of 52 cents.
Sales declined to $377.4 million from last year's $390 million, missing analyst forecasts of $398 million.
Same-store sales fell 4.2%.
TheStreet Ratings team rates STAGE STORES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate STAGE STORES INC (SSI) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."
- You can view the full analysis from the report here: SSI Ratings Report