Stage Stores, Inc. (NYSE:SSI) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
issued a news release reporting our unaudited financial results
for the fourth quarter and fiscal year ended January 28, 2017.
Additionally, we provided full year 2017 guidance.
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; (ii) adjusted loss per diluted share; (iii) adjusted
gross profit; and (iii) adjusted selling, general and
administrative expenses. 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 the consolidation our corporate headquarters,
severance associated with workforce reductions, and store
closures, impairments and other strategic initiatives of
approximately $12.5 million, or $0.44 per diluted share for the
fourth quarter of fiscal 2016, and $13.8 million, or $0.51 per
diluted share for the year. 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 investors 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.
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.
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Stage Stores, Inc. news release dated March 2, 2017.
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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. Stage Stores, Inc. (NYSE:SSI) Recent Trading Information
Stage Stores, Inc. (NYSE:SSI) closed its last trading session down -0.27 at 2.05 with 1,224,916 shares trading hands.
