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
Twitter Inc. on Friday unlocked the New York Post's Twitter account after a two-week stalemate over posting links to its reporting about Hunter Biden. Walmart has removed guns and ammunition from its store shelves in the U.S. as a precautionary measure following the unrest in Philadelphia after a Black man was fatally shot by police, according to reports. While the firearms will be available for purchase at the Walmart stores, customers will be required to specifically request for them. Regeneron Pharmaceuticals Inc. (REGN) said Friday that the independent data monitoring committee or IDMC for the REGN-COV2 antibody cocktail treatment trials for COVID-19 has recommended to hold further enrollment in hospitalized patients requiring high-flow oxygen or mechanical ventilation.
Follow RTT