UPDATE 1-Stage Stores posts narrower-than-expected Q1 loss

* Q1 loss $0.02/shr vs est loss $0.03/shr

* Sees FY EPS $0.40-$0.65

* Sees Q2 same-stores sales to fall 6 pct-9 pct

* Sees FY same-store sales to fall 5.5 pct-8.0 pct

May 21 (Reuters) - Department-store operator Stage Stores Inc (SSI.N) posted a narrower-than-expected quarterly loss, helped by lower expenses, and raised the lower end of its earnings forecast for the full year.

For the full year, Stage Stores upped the low end of its earnings outlook by 5 cents to 40 cents a share, and kept the high end of its forecast at 65 cents a share.

It expects full-year revenue of $1.43 billion to $1.47 billion.

Stage Stores ended the first quarter with 14 percent less comparable store inventory, and reduced its selling, general administrative expenses by 5 percent during the quarter.

The company posted a first-quarter loss of $905,000, or 2 cents a share, compared with a profit of $2.3 million, or 6 cents a share, in the year-ago period.