Company:Stage Stores
 Stage Stores, Inc. Corporate Office | |
| Type | Public |
|---|---|
| NYSE: SSI Russell Microcap Index component | |
| Industry | Retail |
| Founded | 1988 |
| Headquarters | Houston, Texas |
Number of locations | 793 |
Key people | William J. Montgoris (Non-Executive Chairman) Michael L. Glazer (President, CEO) Jason Curtis (CFO) Steve Williams (CIO) |
| Products | Apparel, Accessories, Cosmetics, Footwear, and Housewares |
| Revenue | $1.6 B (2018)[1] |
| Website | stage |
Stage Stores is a department store company specializing in retailing off-price brand name apparel, accessories, cosmetics, footwear, and housewares throughout the United States. The corporate office is located in Houston, Texas .[2]
Stage Stores operates 782 department stores in 42 states, almost all of which either are or will soon be operated under its flagship brand, Gordmans, which it acquired in 2017. Historically, Stage Stores operated full-price retail outlets under the Bealls, Palais Royal, Peebles, Stage, and Goody's nameplates before transitioning away from that business model and toward an off-price positioning in 2019 and 2020.
The company operates stores primarily in Midwestern, Southeastern, Mid-Atlantic, and New England regions. Stores can be found in shopping malls and centers or in standalone locations.
In 2011, Stage Stores began a new chain called Steele's,[3] but in March 2014 it was announced that these stores are being sold to Hilco Global.[4]
The company engages in charitable activities through its "Community Counts" program.
It unveiled its eCommerce website in 2010
Exclusive brands of Stage Stores include Valerie Stevens; Signature Studio; Sun River; Rustic Blue; Rebecca Malone; and Wishful Park.
Stage Stores, Inc. is publicly traded on the NYSE as SSI since 2002.
Chains
- Stage Stores: South Central-based (department store)
- Bealls: Southeastern-based (department store)
- Palais Royal: Texas-based (department store)
- Peebles: Eastern and upper midwestern areas of US. (department store)
- Gordmans: Midwestern-based (off-price department store)
- Goody's: Southeastern-based (department store)
History
Through a series of acquisitions the company has grown to 793 stores as of July 29, 2017.
In June 1992, Stage Stores, then known as Specialty Retailers, Inc. (SRI), acquired Colorado-based Fashion Bar, Inc., a family-owned business with 71 stores, most of which were comparable to Palais Royal and Bealls. The remainder were small specialty stores known as Stage Stores, which had already become part of SRI's operation.
In 1996, SRI completed the closure of the other Fashion Bar Stores but retained the Stage name. The company purchased the forty-nine stores of Beall-Ladymon, Inc., sold by company president Horace Ladymon. The outlets were located in Arkansas, Kansas, Louisiana, and Mississippi; they were reopened in 1994 under the "Stage" name.[5]
Stage expanded into the Northwest with the acquisition in 1997 of C. R. Anthony Co. and Tri-North stores.
The company acquired Uhlmans in 1997 which brought Stage to Michigan, Illinois, and Indiana. All of these newly acquired stores, however, were closed by 1999 when Stage Stores filed for Chapter 11 bankruptcy. Closures as part of the bankruptcy included most of the former Fashion Bar, Milliken's, Tri-North, and Uhlman's stores, as well as an exodus from Wisconsin, Michigan, and Minnesota.
Stores with the Stage nameplate still operate in Arizona, Arkansas, Colorado, Iowa, Kansas, Louisiana, Missouri, Mississippi, and Oklahoma. Before the bankruptcy, Stage stores also operated in Alabama, Georgia, Idaho, Illinois, Indiana, Michigan, Minnesota, Montana, North Carolina, Ohio, Oregon, South Carolina, South Dakota, Washington, Wisconsin, and Wyoming.
In 2003, Stage Stores acquired 136 Peebles stores located in 17 states.
The company purchased the Goody's name through the Goody's bankruptcy auction in 2009. The nameplate was used in markets with a strong customer awareness and brand recognition of the name.[6]
Stage Stores acquired the Gordmans' assets in 2017 after becoming the winning bidder. The company announce it plans run at least 50 stores and one of Gordmans’ distribution centers.[7] By the end of 2019, Stage Stores announced it would consolidate all of its stores under the Gordmans brand.
Acquisitions
Stage Stores, Inc. has acquired many stores over the years, including the following:
- Fashion Bar (Colorado, Wyoming). Acquired in 1992, all stores converted to Stage.
- Beall-Ladymon (Arkansas, Louisiana, Mississippi, Kansas ). Acquired in 1994, all stores converted to Stage.
- Uhlman's (Illinois, Indiana , Michigan, Ohio). Acquired in 1996. In addition to the Uhlman's name, Uhlman's operated Milliken's stores in Michigan. All were renamed Stage, except for locations in Traverse City, Michigan; Cadillac, Michigan;, and Manistee, Michigan which operated as Stage-Milliken until 2001.[8]
- C. R. Anthony Co. (Montana, Idaho, Oregon, New Mexico, Oklahoma, Texas , Kansas , Wyoming) Acquired 1997, most stores converted to Stage, while some Anthony's, such as those located in Amarillo, Texas, became Bealls locations.
- Tri-North (Idaho, Montana, Nevada, Oregon, Washington (state) ) Most of these locations operated as Hub Clothing Stores before the 1998 acquisition, when all 15 stores converted to Stage.
- B. C. Moore & Sons, (Georgia, North Carolina, South Carolina). Acquired February 2006. By November 2006, 69 of these 76 stores were converted to the Peebles name and format, and the other nine were closed.
Future in Off-Price
On September 17, 2019, Stage Stores announced plans to convert all remaining Stage, Bealls, Palais Royal, Peebles, and Goodys department store locations into Gordmans stores by the end of 2020.[9] This would mean that Stage Stores would completely exit the department store market and instead go all in as an off-price retailer. By the end of fiscal year 2020, Stage plans to operate approximately 700 Gordmans Stores. CEO Michael Grazer cited the high sales increases in locations that had already been converted as the main factor in this decision.
References
- ↑ "Stage Stores Company Profile". 12 December 2019. https://craft.co/stage-stores.
- ↑ "Company Profile." Stage Stores. Retrieved on December 14, 2009.
- ↑ "Stage Stores Announces the Launch of Steele's, Its New Off-Price Concept". Business Wire. 11 October 2011. http://www.businesswire.com/news/home/20111011006973/en/Stage-Stores-Announces-Launch-Steele%E2%80%99s-Off-Price-Concept. Retrieved 2 April 2013.
- ↑ "Stage Stores Announces the Sale of its Steele's Off-Price Division to the Hilco Global Retail Group". Hilco Global. 2014-03-06. http://www.hilcoglobal.com/news/media/2014/03/06/stage-stores-announces-the-sale-of-its-steele-s-off-price-division-to-the-hilco-global-retail-group. Retrieved 2014-03-29.
- ↑ "Kelly Ford, Beall-Ladymon stores change hands". Arkansas Business'. September 26, 1994. http://www.arkansasbusiness.com/article/82644/beall-ladymon-stores-change-hands. Retrieved June 12, 2014.
- ↑ Harrington, Carly. "Goody's name, logo sold". http://www.knoxnews.com/news/2009/jul/09/goodys-name-logo-sold/. Retrieved 2019-10-24.
- ↑ Press, The Associated (2017-03-30). "Some Gordmans department stores bought by rival, will remain open" (in en-US). https://www.denverpost.com/2017/03/30/gordmans-department-stores-bought/.
- ↑ Stage/Milliken closing in next three months Archived, Traverse City Record-Eagle, January 4, 2001.
- ↑ "Stage Stores Announces Total Company Conversion to Off-Price" (in en). 2019-09-17. https://www.businesswire.com/news/home/20190917005257/en/Stage-Stores-Announces-Total-Company-Conversion-Off-Price.
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