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Stage Store Q4 earnings up on improved sales

HOUSTON -- Stage Stores' fiscal fourth-quarter profit rose 15% on increased sales. The department store operator said its board approved a new buyback of up to $200 million of its outstanding shares.

The department store operator reported net income of $32 million for the period ended Jan. 29, up from $27.9 million a year earlier.

Revenue rose 5% to $453.7 million, from $431.7 million. Analysts expected $453.5 million in revenue.

For the year, Stage Stores reported net income of $37.6 million, compared with $28.7 million in the prior year. Annual revenue improved to $1.47 billion from $1.43 billion.

Stage Stores has 784 stores in 39 states under the Bealls, Goody's, Palais Royal, Peebles and Stage banners.

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