The company's second quarter earnings per share was 45c on revenue of $337M, missing analysts' consensus estimates of of 52c and $397.57M, respectively.
Same-store sales were down 4.2% for the quarter.
The retailer noted that the quarter was "challenging," but said its sales trend improved towards the end of the quarter.
Stage Stores expects fiscal year 2014 EPS to be in the range of $1.05-$1.15, but below analysts' $1.22 consensus estimates. The retailer anticipates fiscal year 2014 revenue to be in the range of $1.61B-$1.63B, also lower than analysts' consensus estimates of $1.65B.
In addition, the company sees SSS for the second half of the year flat to up 2%.
During the company's conference call today, Stage Stores blamed reduced traffic and a decrease in clearance sales as contributors to lower than expected second quarter results, according to theflyonthewall.com.
The retailer said that it's "intensely focused" on delivering improved performance results, and says the upcoming promotional environment will remain competitive while traffic will remain constrained. Sales in 2H14 are set to be better than in the first half of 2014, and the company said that it's off to a "positive start" for the upcoming fall quarter, the fly noted.
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