Stage Stores Announces Total Company Conversion to Off-Price

HOUSTON--(BUSINESS WIRE)--Stage Stores, Inc. (NYSE: SSI) today announced plans to convert substantially all its stores to off-price. Based on the success of the conversion strategy, the Company plans to begin converting its remaining department stores in February of 2020, and expects to be operating approximately 700 predominantly small-market Gordmans off-price stores by the third quarter of fiscal 2020. A limited number of stores may continue to operate under their existing department store nameplates until closure is permitted by lease. The Company plans to close approximately 40 stores during fiscal 2020. Capital spend in fiscal 2020, inclusive of all conversion activities, is expected to be approximately $30 million.