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Stage Stores Initiates 2019 Guidance - Quick Facts

Stage Stores, Inc. (SSI) announced, for 2019, the company expects: net sales between $1.59 billion and $1.62 billion; comparable sales increase of 3% to 5%; EBITDA between $10 million and $15 million; net loss between $65 million and $60 million, and loss per share between $2.25 and $2.10. During 2019, the company plans to convert 70 to 80 department stores to Gordmans off-price stores, and close 40 to 60 department stores.

Michael Glazer, CEO, said: "We are very excited about the future, including converting 150 more department stores to off-price by the middle of 2020. As a result, by the end of 2020, off-price sales will represent approximately 50% of our sales volume."

For the fourth quarter, total company comparable sales decreased 2.4%. Shifted comparable sales, comparing the thirteen weeks ended February 2, 2019 and February 3, 2018, increased 0.6%. Net loss, including $14.9 million of non-cash tradename impairment, was $7.8 million and fourth quarter EBITDA adjusted for impairments was $27.1 million. Loss per share was $0.28 compared to profit per share of $0.19, prior year. Net sales were $520 million compared to $549 million, a year ago.

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