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Weather hits Stage Stores Q1

The family-store brand retailer in small to midsize markets said EPS plunged 60% to 2 cents, missing views by 7 cents. CEO Michael Glazer blamed "unseasonably cool weather in March and April" for impacting sales. Revenue rose 3.5% to $379 mil, as 10 new stores opened. Same-store sales were flat. Stage Stores (SSI) still expects same-store sales to rise 2% to 4% for the year and adjusted EPS of $1.45 to $1.55. Analysts are expecting $1.53. Shares fell 7.3% to 24.19.