Stage Stores (SSI) Misses Q1 EPS by 9c, Offers FY Guidance
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Stage Stores Reports First Quarter Results and Declares Quarterly Cash Dividend
May 19, 2016 6:30 AM EDTHOUSTON--(BUSINESS WIRE)-- Stage Stores, Inc. (NYSE: SSI) today reported financial results for the first quarter ended April 30, 2016.
Our first quarter results were hurt by our Texas, Louisiana, Oklahoma, and New Mexico stores, due to the impact of depressed oil prices and the weak peso, as well as a challenging retail environment. Excluding stores in these four states, our comparable sales declined 3.8%, said Michael Glazer, President and Chief Executive Officer. We expect these macro factors will weigh on our sales performance in the near-term and we are reducing our expenses, inventories, and capital... More
