$SSI closed on its acquisition of selected assets of Gordmans Stores, Inc. for the remainder of FY17, the acquisition is expected to contribute $230-245MM in revenue and be neutral to earnings, exclusive of acquisition costs. $SSI anticipates the addition of the Gordmans stores to be significantly accretive to earnings in FY18.

$SSI closed on its acquisition of selected assets of Gordmans Stores, Inc., including a minimum of 50 Gordmans store leases. $SSI expects to pay $35-40MM for the inventory, with the final amount to be determined following the completion of a post-closing physical inventory count and an additional $2-3MM for the other assets.

$SSI expects 2017 free cash flow (defined as net cash provided by operating activities less capital expenditures) to be positive within its provided guidance range. Capital expenditures in 2017, net of construction allowances from landlords, are expected to be $35-40MM, compared to $67MM in 2016.

$SSI expects 2017 sales of $1.33-1.385Bil, assuming comparable sales of down 4-8%, and loss per share of $0.95-1.55. Total sales include the impact of a 53rd week, while comparable sales reflect a 52-week period. $SSI sees weighted average shares of about 27.5MM and effective tax rate of 32-35%.

$SSI slipped to a 4Q16 loss from a profit last year, due to lower sales and soft retail environment. Net loss was $6.84MM or $0.25 per share compared to a profit of $21MM or $0.71 per share last year. Net sales fell to $454.44MM from $502.63MM. Adjusted EPS decreased to $0.20 from $0.91. Comparable sales declined 8.5%.

$SSI entered into an amendment to its senior secured revolving credit facility. The amendment increases total capacity under the facility from $350MM to $450MM, including a $50MM seasonal increase and $25MM letter of credit sublimit. This also extends the term from Oct. 6, 2019 until Dec. 16, 2021.

$SSI's BoD declared a quarterly dividend of 15 cents per share on its common stock. The dividend is payable on Dec. 14, 2016 to shareholders of record on Nov. 29, 2016.

$SSI lowered 2016 weighted average shares outlook to 27.1MM from 28.2MM. The company expects 2016 capital expenditures, net of construction allowances from landlords, of about $65MM compared to $87MM in 2015.

$SSI expects 4Q16 comparable sales to be down 6-2% and EPS of $0.65-0.90. Weighted average diluted shares are expected to be $28.3MM. For 2016, $SSI lowered comparable sales outlook to range of down 8-7% from down 6-4%. $SSI now sees adjusted loss per share of $0.40-0.15 compared to prior adjusted EPS estimate of $0.20-0.40.

Department store operator $SSI reported a wider 3Q16 loss due to difficult retail environment, unseasonably warm weather, weak peso, and ongoing depressed oil prices pressure. Net loss widened to $15.63MM or $0.58 per share from $10.18MM or $0.32 per share last year. Sales fell 9.8% to $317.14MM. Adjusted loss per share widened to $0.57 from $0.29.

Specialty retailer $FRAN said Steven Lawrence, most recently Chief Merchandising Officer for $SSI, will be President and CEO, effective Oct. 2016. Lawrence is also appointed to the company's BoD. Richard Kunes who has been Interim Chairman, President and CEO will become Company's Chairman of the Board.

Specialty department stores $SSI said it has promoted Thorsten Weber to the post of EVP and Chief Merchandising Officer. Weber succeeds Steve Lawrence who will be leaving the company to pursue other interests.