Stage Stores Inc. said its normalized net income for the fiscal third quarter ended Oct. 29 came to a loss of 68 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 35 cents per share.
The per-share loss grew year over year from 33 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $18.4 million, compared with a loss of $10.5 million in the prior-year period.
The normalized profit margin fell to negative 5.8% from negative 3.0% in the year-earlier period.
Total revenue decreased 9.8% year over year to $317.1 million from $351.6 million, and total operating expenses declined 6.1% from the prior-year period to $345.1 million from $367.6 million.
Reported net income came to a loss of $15.7 million, or a loss of 58 cents per share, compared to a loss of $10.2 million, or a loss of 32 cents per share, in the year-earlier period.