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Stage Stores profit pressured by oil, peso slump

Stage Stores Inc. on Thursday posted worse-than-expected results for its third quarter and slashed its full-year guidance as fallout from the weak oil and gas market, and slide of the Mexican peso impacted the Houston-based company.

Sales at comparable stores declined 3.5% during the quarter, mirroring the drop in total sales. The department-store company has locations in places hit by the slump in oil prices, including Texas, Louisiana, Oklahoma and New Mexico.

Along with its latest results, Stage Stores said it expected sales in comparable stores for the...