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Stage Stores lowers FY'17 guidance

Stage Stores Inc. on Nov. 21 narrowed its outlook for full-year fiscal 2017 as it reported financial results for the third quarter ended Oct. 28.

The specialty department store operator now expects adjusted loss per diluted share to be in the range of 90 cents to $1.25, compared to the previous guidance of an adjusted loss of 90 cents to $1.35 released in its second-quarter results.

The new forecast assumes comparable sales for fiscal 2017 are in a range between -4% and -6%, from a previous guidance range of -4% to -7%, and does not take into account after-tax charges related to the Gordmans acquisition, store closures and other initiatives totaling about 23 cents per diluted share.

For the third quarter ended Oct. 28, the company's total sales rose 12.6% year over year to $357.2 million from $317.1 million in the third quarter of 2016, but comparable sales fell 3.9%.

Stage Stores' net loss during the period totaled $17.7 million, or 64 cents per diluted share, compared with a net loss of $15.6 million, or 58 cents per diluted share the previous year. The loss includes an estimated negative impact of 5 cents per diluted share from Hurricanes Harvey and Irma, the company said.