Stage Stores (SSI) Reports Q4 EPS of $0.45, Beats on Revenues; Offers FY18 Revenue Outlook Above Consensus

Note: EPS may not be comparable

Stage Stores (NYSE: SSI) reported Q4 EPS of $0.45. Revenue for the quarter came in at $549 million versus the consensus estimate of $357.24 million.

Fourth Quarter Results

Fourth quarter 2017 results compared to fourth quarter 2016 results were as follows:

• Net sales were $549 million compared to $454 million last year
• Comparable sales increased 1.1% compared to a decline of 8.5% last year
• Adjusted EBIT was $22.1 million compared to $13.6 million last year
• Net income was $5.6 million compared to a net loss of $6.8 million last year
• Adjusted net income was $13.6 million compared to $5.7 million last year
• Earnings per diluted share were $0.19 compared to a loss per diluted share of $0.25 last year
• Adjusted earnings per diluted share were $0.45 compared to $0.20 last year

2018 Guidance

Regarding the company’s outlook for fiscal 2018, Mr. Glazer stated, “We are optimistic about 2018 and remain focused on building upon the momentum we established in our department store sales. In addition, our acquisition of Gordmans is a great opportunity for us to leverage the strength of the off-price sector, and we plan to accelerate growth in this business during the coming year. As a result, in 2018, we expect to deliver positive comparable sales, significantly improve EBIT, and generate positive free cash flow.”

For fiscal 2018, the company provided the following guidance:

• Net sales between $1,610 million and $1,640 million
• Comparable sales of flat to an increase of 2.0%
• EBIT between $(29) million and $(18) million
• Net loss between $38 million and $27 million
• Tax rate of 0%, which, when compared to 2017, is expected to negatively impact 2018 EPS by $0.36 to $0.52 per diluted share within the comparable sales and EBIT guidance ranges
• Loss per diluted share between $1.35 and $0.95
• Depreciation and amortization between $55 million and $60 million
• Capital expenditures of $30 million
• Open one Gordmans store and close 25 to 30 department stores

GUIDANCE:

Stage Stores sees FY2018 EPS of ($1.35)-($0.95). Stage Stores sees FY2018 revenue of $1.61-1.64 billion, versus the consensus of $1.59 billion.

For earnings history and earnings-related data on Stage Stores (SSI) click here.

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