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Stage Stores Posts Wider Loss In Q1; Reaffirms Guidance - Quick Facts

Stage Stores, Inc. (SSI) reported a first-quarter net loss of $31.7 million compared to a loss of $19.0 million, prior year. Loss per share was $1.14 compared to a loss per share of $0.70.

First-quarter net sales were $344 million compared to $309 million, a year ago. Comparable sales decreased 2.8% for the quarter.

Michael Glazer, CEO, said, "While the first quarter began with positive comparable sales in February, results were negatively impacted by unseasonably cold temperatures in our geography in late March and early April. Once the weather normalized in the second half of April, comparable sales turned positive, and business has accelerated in May."

For fiscal 2018, the company reaffirmed its guidance: net sales between $1.61 billion and $1.64 billion; comparable sales of flat to an increase of 2.0%; and net loss between $38 million and $27 million.

The company also announced that its Board declared a quarterly cash dividend of $0.05 per share on its common stock, payable on June 20, 2018 to shareholders of record at the close of business on June 5, 2018.

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