logo
Plus   Neg
Share
Email

Stage Stores Projects FY19 Comps. To Rise 1%-3%; Q2 Comps. Up 1.8% - Quick Facts

Stage Stores, Inc. (SSI), announced, for 2019, the company now expects adjusted EBITDA of $20 million to $25 million compared to the previously guided range of $10 million to $15 million. The company said the guidance revision is based on its accelerated conversion schedule and significant SG&A benefits now expected to be realized in the fall of 2019. For 2019, the revised comparable sales growth outlook is in the range of 1% to 3%. Net sales are projected to be in the range of $1.56 billion and $1.59 billion.

For the second quarter, loss per share was $0.83 compared to loss per share of $0.60, previous year. Adjusted EBITDA was a loss of $0.1 million compared to adjusted EBITDA of $2.0 million.

Second-quarter net sales were $368 million compared to $369 million, previous year. Comparable sales increased 1.8%, for the quarter.

Michael Glazer, CEO, said: "Our second quarter comparable sales increase reflects a 150 basis point benefit from off-price conversions as well as stabilization of our women's apparel business. Total comparable sales growth was driven by increases in both average transaction value and number of transactions."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. (INTC), the world's biggest chipmaker, Thursday said its profit and revenues for the fourth quarter trumped Wall Street estimates. The company's shares gained nearly 7 percent driven by strong outlook for the first quarter and full year 2020. Santa Clara, California-based Intel reported... ABH Pharma, Inc. and Stocknutra.com Inc. have recalled all of its dietary supplement products pursuant to a consent decree entered by the U.S. District Court for the Eastern District of New York. The companies have recalled all dietary supplement products manufactured and sold between January 2013... New York-based grocery chain Fairway Market has filed for Chapter 11 bankruptcy protection, but said its stores will remain open across the Tri-State area during the court process and it does not expect any service interruptions. This is the second time the company has filed for bankruptcy. The company earlier filed for Chapter 11 bankruptcy protection in 2016.
Follow RTT
>