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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."

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