Exhibit 99

NEWS RELEASE

CONTACT:

Bob Aronson

Vice President, Investor Relations

800-579-2302

(baronson@stagestores.com)

FOR IMMEDIATE RELEASE

Stage Stores Reports First Quarter Results

Provides Second Quarter and Updated Full Year Guidance

HOUSTON, TX, May 19, 2011 -- Stage Stores, Inc. (NYSE: SSI) today reported a net loss for the first quarter ended April 30, 2011 of $461 thousand, or $0.01 per share, compared to net income of $2.2 million, or $0.06 per diluted share, for the prior year first quarter ended May 1, 2010.

Andy Hall, President and Chief Executive Officer, commented, “Adverse February sales, disappointing Easter sales and near-record gasoline prices resulted in flat comparable store sales for the quarter.  The February sales loss forced us to increase promotional activity in March and April as we attempted to make up the sales shortfall.

“The combination of our sales performance, delayed clearance selling caused by missing the February clearance window, and our stepped-up promotional activities, negatively impacted our merchandise margins and led to our one cent loss for the quarter.

“We remain optimistic about the remainder of the year.  We believe our March and April combined comparable store sales results of 3.3% is a better indicator of our go forward run rate.  In addition, we remain very pleased with the performance of our rebranded Goody’s stores and with the progress we have made with our eCommerce business,” Mr. Hall concluded.

Stock Repurchase Activity

The Company also reported today that it repurchased approximately 922,000 shares of its common stock during the first quarter at a total cost of approximately $16.6 million.  The shares were repurchased under the Company’s $200 million Stock Repurchase Program.  The Company stated that it still intends to repurchase up to $100 million of its outstanding shares during 2011 and to complete the Program by the end of 2013.

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Stage Stores Reports

First Quarter Results

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Fiscal 2011 – Second Quarter and Updated Full Year Guidance

2nd Quarter 2011

The Company is projecting an increase in comparable store sales for the quarter of between 1.0% and 3.0%.

	2Q 2011 OUTLOOK			2Q 2010
Sales ($mm)	$355	-	$362	$345
Diluted EPS	$0.28	-	$0.31	$0.27
Diluted Shares (m)	36,600			38,587

FY 2011

The Company is projecting an increase in comparable store sales for 2011 of between 0.8% and 2.4%.  The Company’s EPS guidance for the year is now $1.04 to $1.13 versus its original guidance of $1.07 to $1.17.  The Company noted that the EPS and diluted share projections for the year only reflect the impact of shares repurchased in the first quarter with no benefit factored in for shares that may be repurchased during the remaining three quarters of the year.

	FY 2011 OUTLOOK			FY 2010
Sales ($mm)	$1,512	-	$1,535	$1,471
Diluted EPS	$1.04	-	$1.13	$0.99
Diluted Shares (m)	36,730			38,010

Conference Call Information

The Company will hold a conference call today at 8:30 a.m. Eastern Time to discuss its first quarter results.  Interested parties can participate in the Company’s conference call by dialing 703-639-1121.  Alternatively, interested parties can listen to a live webcast of the conference call by logging on to the Company's web site at www.stagestoresinc.com, then clicking on Investor Relations, then Webcasts, and then the webcast link.  A replay of the conference call will be available online until midnight on Friday, May 27, 2011.

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Stage Stores Reports

First Quarter Results

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About Stage Stores

Stage Stores, Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small and mid-size towns and communities through 798 stores located in 39 states.  The Company operates its stores under the five names of Bealls, Goody’s, Palais Royal, Peebles and Stage.  For more information about Stage Stores, visit the Company’s web site at www.stagestoresinc.com.

Caution Concerning Forward-Looking Statements

This document contains “forward-looking statements”. Forward-looking statements reflect our expectations regarding future events and operating performance and often contain words such as "believe", "expect", "may", "will", "should", "could", "anticipate", "plan" or similar words.  In this document, forward-looking statements include comments regarding the Company’s sales and EPS outlooks for the second quarter and full 2011 fiscal year.  Forward-looking statements are subject to a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the forward-looking statements.  These risks and uncertainties include, but are not limited to, those described in our Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the "SEC") on March 30, 2011, and other factors as may periodically be described in our other filings with the SEC.  Forward-looking statements speak only as of the date of this document.  We do not undertake to update our forward-looking statements.

(Tables to Follow)

Stage Stores, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
	Thirteen Weeks Ended
	April 30, 2011						May 1, 2010
	Amount			% to Sales (1)			Amount		% to Sales (1)
Net sales	$	346,483			100.0	%	$	340,042		100.0	%
Cost of sales and related buying, occupancy
and distribution expenses		261,263			75.4	%		250,147		73.6	%
Gross profit		85,220			24.6	%		89,895		26.4	%
Selling, general and administrative expenses		83,602			24.1	%		83,849		24.7	%
Store opening costs		2,734			0.8	%		1,456		0.4	%
Interest expense, net of income of $22 and $29, respectively		906			0.3	%		1,045		0.3	%
(Loss) income before income tax		(2,022	)		-0.6	%		3,545		1.0	%
Income tax (benefit) expense		(1,561	)		-0.5	%		1,347		0.4	%
Net (loss) income	$	(461	)		-0.1	%	$	2,198		0.6	%
Basic and diluted (loss) earnings per share data:
Basic (loss) earnings per share	$	(0.01	)				$	0.06
Basic weighted average shares outstanding		36,279						38,273
Diluted (loss) earnings per share	$	(0.01	)				$	0.06
Diluted weighted average shares outstanding		36,279						38,773
(1) Percentages may not foot due to rounding.

Stage Stores, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except par value)
(Unaudited)
	April 30, 2011			January 29, 2011
ASSETS
Cash and cash equivalents	$	66,296		$	89,349
Merchandise inventories, net		382,431			325,501
Prepaid expenses and other current assets		22,655			30,423
Total current assets		471,382			445,273
Property, equipment and leasehold improvements, net		314,952			317,954
Intangible asset		14,910			14,910
Other non-current assets, net		19,738			17,947
Total assets	$	820,982		$	796,084
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	148,224		$	95,365
Current portion of debt obligations		13,688			13,490
Accrued expenses and other current liabilities		61,889			74,318
Total current liabilities		223,801			183,173
Long-term debt obligations		21,505			25,002
Other long-term liabilities		98,940			98,400
Total liabilities		344,246			306,575
Commitments and contingencies
Common stock, par value $0.01, 100,000 shares authorized,
57,455 and 56,946 shares issued, respectively		575			569
Additional paid-in capital		523,639			516,079
Less treasury stock - at cost, 21,430 and 20,508 shares, respectively		(337,203	)		(320,055	)
Accumulated other comprehensive loss		(2,911	)		(2,935	)
Retained earnings		292,636			295,851
Total stockholders' equity		476,736			489,509
Total liabilities and stockholders' equity	$	820,982		$	796,084

Stage Stores, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
	Thirteen Weeks Ended
	April 30, 2011			May 1, 2010
Cash flows from operating activities:
Net (loss) income	$	(461	)	$	2,198
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		15,425			14,317
Loss on retirements of property and equipment		136			-
Deferred income taxes		(11	)		(40	)
Tax benefits from stock-based compensation		301			1,277
Stock-based compensation expense		1,782			1,167
Amortization of debt issuance costs		75			75
Excess tax benefits from stock-based compensation		(667	)		(1,905	)
Deferred compensation obligation		67			47
Amortization of employee benefit related costs		39			107
Construction allowances from landlords		1,925			2,510
Changes in operating assets and liabilities:
Increase in merchandise inventories		(56,930	)		(42,835	)
Decrease in other assets		5,856			214
Increase in accounts payable and other liabilities		38,293			16,601
Total adjustments		6,291			(8,465	)
Net cash provided by (used in) operating activities		5,830			(6,267	)
Cash flows from investing activities:
Additions to property, equipment and leasehold improvements		(11,858	)		(8,496	)
Proceeds from retirements of property and equipment		93			-
Net cash used in investing activities		(11,765	)		(8,496	)
Cash flows from financing activities:
Payments of long-term debt obligations		(3,299	)		(3,442	)
Repurchases of common stock		(17,148	)		(123	)
Proceeds from exercise of stock awards		5,416			4,829
Excess tax benefits from stock-based compensation		667			1,905
Cash dividends paid		(2,754	)		(1,913	)
Net cash (used in) provided by financing activities		(17,118	)		1,256
Net decrease in cash and cash equivalents		(23,053	)		(13,507	)
Cash and cash equivalents:
Beginning of period		89,349			93,714
End of period	$	66,296		$	80,207