Stage Stores, Inc. (NYSE:SSI) Files An 8-K Results of Operations and Financial Condition
Item 2.02Results of Operations and Financial Condition

On August 17, 2017, Stage Stores, Inc. (“we,” “our” or “registrant”) issued a news release reporting our unaudited financial results for thesecond quarter of fiscal 2017 and updating our guidance for fiscal 2017.

The news release included “non-GAAP financial measures,” as that term is defined by Rule 101 of Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17 CFR Part 229). Specifically, the following non-GAAP financial measures were included: (i) adjusted net (loss) income; (ii) adjusted diluted (loss) earnings per share; (iii) adjusted gross profit; (iv) adjusted selling, general and administrative expenses; (v) adjusted (loss) income before income tax; (vi) adjusted income tax benefit; and (vii) adjusted income tax rate. The non-GAAP financial measures exclude from the most directly comparable financial measure calculated and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) after-tax charges related to (i) the acquisition of select assets of Gordmans Stores, Inc. and its subsidiaries, strategic store closures and impairments of approximately $2.2 million, or $0.08 per diluted share for the second quarter of fiscal 2017, and $6.2 million, or $0.23 per diluted share for the year-to-date 2017; and (ii)the consolidation our corporate headquarters, severance charges associated with a workforce reduction, store closures and other strategic initiatives of approximately $0.8 million, or $0.03 per diluted share, for the second quarter of fiscal 2016, and $1.1 million, or $0.04 per diluted share for the year-to-date 2016. Adjusted 2017 guidance excludes after-tax charges associated with the Gordmans acquisition, store closures, impairments and other strategic initiatives totaling approximately $0.23 per diluted share. The news release posted in the Investor Relations section of our website contains a presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and a reconciliation of the difference between the non-GAAP financial measures and the most directly comparable financial measures calculated and presented in accordance with GAAP. We believe this supplemental financial information enhances an investor’s understanding of our financial performance as it excludes those items which impact comparability of operating trends.The non-GAAP financial information should not be considered in isolation or viewed as a substitute for net income, cash flow from operations or other measures of performance as defined by GAAP.Moreover, non-GAAP financial information as reported by us is not necessarily comparable to other similarly titled measures of other companies due to the potential inconsistencies in the method of presentation and items considered.

Attached as Exhibit 99 to this Form 8-K is a copy of the news release, including information concerning forward-looking statements and factors that may affect our future results. The information in Exhibit 99 shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing. By furnishing the information in this Form 8-K and the attached exhibit, we are making no admission as to the materiality of any information in this Form 8-K or the exhibit.

Item 8.01Other Events.

In our news release issued on August 17, 2017, we also announced that our Board of Directors declared a quarterly cash dividend of $0.05 per share on our common stock, payable on September 13, 2017 to shareholders of record at the close of business on August 29, 2017.

Item 9.01Financial Statements and Exhibits

(d)Exhibits

STAGE STORES INC Exhibit
EX-99 2 ex99_earnings2q2017.htm EXHIBIT 99 Exhibit Exhibit 99NEWS RELEASECONTACT:                    Randi Sonenshein                    Senior Vice President,…
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About Stage Stores, Inc. (NYSE:SSI)

Stage Stores, Inc. operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business. The Company’s direct-to-consumer business consists of its e-commerce Website and Send program. The Company’s e-commerce Website includes a range of merchandise categories found in its stores, as well as other product offerings. The Company’s in-store Send program allows customers to have merchandise shipped directly to their homes if the preferred size or color is not available in their local store. The Company’s private label portfolio brands are developed and sourced through agreements with third-party vendors.