Stage Stores, Inc. announced consolidated unaudited earnings results for the first quarter ended April 29, 2017. For the quarter, the company reported net sales of $308,607,000 compared with $332,750,000 for the same period a year ago. Loss before income tax was $27,877,000 compared to $24,186,000 for the same period a year ago. Net loss was $18,987,000 compared to $15,460,000 for the same period a year ago. Loss per basic and diluted share was $0.70 compared to $0.57 for the same period a year ago. Adjusted loss (non-GAAP) was $15,003,000 compared with $15,109,000 for the same period a year ago. Adjusted diluted loss per share (non-GAAP) was $0.55 compared with $0.56 for the same period a year ago. Net cash used in operating activities was $313,000 compared to net cash provided by operating activities of $8,063,000 for the same period a year ago. Additions to property, equipment and leasehold improvements were $7,359,000 compared with $33,232,000 for the same period a year ago. For the first quarter, comparable sales decreased 9.6%. Total net debt was $201 million against $178 million a year ago.

For the year 2017, the company expects sales, inclusive of the Gordmans business, to be in a range of $1,565 million to $1,620 million, assuming comparable sales for the existing Stage business in a range of negative 4% to negative 8%. Total sales include the impact of a 53rd week, while comparable sales reflect a 52-week period. Adjusted loss per diluted share is expected to be between $0.95 and $1.55, inclusive of the Gordmans business. Adjusted 2017 guidance excludes after-tax charges associated with the Gordmans acquisition, store closures and other strategic initiatives totaling approximately $0.18 per diluted share. The effective tax rate is projected to be between 32% and 35%. Capital expenditures in 2017, net of construction allowances from landlords, are expected to be $40 million, compared to $67 million in 2016. The company expects diluted loss per share (GAAP) of $1.73 to $1.13.