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Stage Stores Holiday Comps Rise; Narrows FY17 Forecast - Quick Facts

Stage Stores, Inc. (SSI), a retailer of apparel, accessories, cosmetics, footwear and home goods, reported Monday a comparable sales increase of 1.1% for the nine-week period ended December 30.

The company also narrowed its guidance for 2017 to an adjusted loss per share of $0.90 to $1.15 and comparable sales of negative 4% to negative 4.5%. The previously communicated guidance was an adjusted loss per share of $0.90 to $1.25 and comparable sales of negative 4% to negative 6%. Guidance is exclusive of the impact of federal tax reform and the valuation of net deferred tax assets.

Michael Glazer, President and Chief Executive Officer, said, "We were very pleased to see the strong momentum from the third quarter accelerate into the holiday season as we delivered positive comparable sales in both November and December. Our e-commerce sales increased at a double-digit rate once again as we remain focused on driving growth in this channel."

The company noted that non-apparel businesses, primarily cosmetics, shoes, home, gifts, and handbags, had the strongest performances during the holiday season. In addition, active apparel continued to be a winning category.

"As a result of three consecutive months of positive comparable sales and merchandising discipline throughout the year, we expect to end 2017 with our inventory level and content in great shape," Glazer added.

by RTTNews Staff Writer

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