Stage Stores Inc.'s second-quarter earnings fell 3 percent to $10 million from $10.3 million a year earlier. On a per-share
basis, earnings rose to 29 cents from 27 cents as shares outstanding
declined 10 percent.
Total sales rose 2.3 percent to $353 million, as comparable-store sales
edged up 0.9 percent.
The company adjusted its 2011 per-share earnings view to $1.10 to $1.16, reflecting an 11 cent-a-share positive impact from a lower share count, from $1.04 to $1.13. Stage Stores lowered its sales view to $1.507 billion to $1.523 billion, from $1.512 billion to $1.535 billion.
For current quarter, the company projected a per-share loss of 21 cents to 24 cents on sales of $340 million to $346 million. Analysts analysts polled by Thomson Reuters expected a loss of 19 cents on revenue of $347 million.
President and Chief Executive Andy Hall said Stage Stores expects same-store-sales growth of 1 percent to 3 percent for the third and fourth quarters, compared with the 1.9 percent growth in the first half of the year.