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Stage Stores fiscal Q3 loss widens 75.4% YOY

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.