Stein Mart and Tuesday Morning — both, like Stage, smaller chains without the scale and buying power of the large off-pricers — filed for bankruptcy this year amid the COVID-19 disruption. . Plans called for the company to close 40 stores and convert the rest to Gordmans, which Stage acquired out of bankruptcy in 2017. Date from. December 9, 2020 GMT (PRNewsfoto/Stage) (PRNewsfoto/Stage) DENVER, Dec. 9, 2020 /PRNewswire/ -- Stage, a turnaround venture fund that invests in technology enabled and consumer products businesses in need of fresh capital and … A free inside look at company reviews and salaries posted anonymously by employees. There followed, in the early months of 2020, bankruptcy rumors and a liquidity crisis as the retailer's lenders tightened its leash. This trendline explores several topics facing small retailers as disruptions from the pandemic, e-commerce and broader economic trends continue to bedevil operations. With approximately 800 stores in 40 states, Stage Stores operates under a number of names, including Bealls, Goody's, Palais Royal, and Peebles. The company reported ($0.60) EPS for the quarter. The Company will terminate the wind-down of operations … Last fall, Stage Stores outlined a bold plan to convert its remaining department stores to its off-price Gordmans banner by the end of fiscal 2020. on Stage Stores, Inc. (NYSE:SSI) today reported results for the fourth quarter and fiscal year ended February 2, 2019 and initiated guidance for fiscal y Filters. Stage Stores, Inc. today announced that it will release its first quarter fiscal 2018 financial results on Thursday, May 24, 2018. Date to. HOUSTON-- ( BUSINESS WIRE )--Stage Stores, Inc. (NYSE: SSI) today announced plans to convert substantially all its stores to off-price. Stage Stores isn't the only discounter to enter bankruptcy this year. Then the coronavirus found its way to the U.S. Some were skeptical about Stage Stores' plans to convert to Gordmans so quickly, given the small sample size of stores it based its plans on and its relatively small supply of capital to power the conversions with. Full-year guidance raised across the board. 547 Stage Stores reviews. Stage Stores will liquidate its inventory by reopening about 557 stores on Friday, about 67 stores on May 28, and the remaining locations on June 4. Stage Stores names CFO . Less than a year ago, the retailer triumphantly reported a quarter of. Filter by date. Discover announcements from companies in your industry. Stage Stores Inc filed for Chapter 11 bankruptcy late on Sunday, the latest casualty of the coronavirus pandemic following the collapse of luxury store … The Company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. Subscribe to daily or weekly news alerts. News. The free newsletter covering the top industry headlines, Stage Stores has received court approval for its, , which calls for the liquidation of all its stores and the wind down of the company, According to Law360, real estate developer Ali Choudhri, , but Stage Stores attorneys said they were unable to close a deal, The story of Stage Stores' recent history could give an observer whiplash. The company's shares traded under a … The pandemic ushered in a wave of major bankruptcies — 30 in total — as retailers struggled to pay rent, vendors and other expenses. The business had revenue of $369.29 million for the quarter. By Reuters Staff. Then the coronavirus found its way to the U.S. Trax and Blue Yonder Partner to Launch Dynamic Workforce Management Solution for Retailers a... Stuzo and Kount Partner to Bring Industry-Leading Fraud Protection to Stuzo’s Open Commerce®... Interface Shares its top 2021 Networking Predictions for Restaurants, Nordstrom leans on off-price, digital to chase customers and profits, Fearing store closures, mall landlords raise alarm about Sycamore's new version of Ascena, Retailers tout initiatives for Black History Month. STAGE STORES INC. quote : historical data and live quotes, charts, news, analyses, trading signals, calendar, informations and community tools Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Reports circulated Wednesday afternoon that the troubled retailer had laid off anywhere between 20 … Stage Stores Inc. said yesterday that it had postponed its planned $144 million initial public offering, citing a weaker market for new stocks. The results were so good it gave the company confidence in its accelerated plan to convert the rest of its remaining stores to the off-price format. Stage Stores Inc. will close about 40 stores as part of a plan to substantially convert to its off-price Gordmans banner. But the company's finances have been tight for some time, and holiday sales that fell well short of projections have created a liquidity crisis for Stage. Citing people familiar with the matter, WSJ reports the company is preparing for a "financial restructuring that could include a bankruptcy filing" … Full story available on Benzinga.com The Wall Street Journal followed with a report that the company was mulling a bankruptcy, which came as news to employees, sources told Retail Dive.Â, By signing up to receive our newsletter, you agree to our, The running list of 2020 retail bankruptcies, Sears is closing 13 more stores, further shrinking its footprint, Longtime L Brands CFO to retire, but not before Victoria's Secret spins off, Hudson's Bay to launch online marketplace. The company owns Goody’s, Peebles and Gordmans. During the same quarter in the prior year, the firm … Stage Store also now expects full-year same-store sales to rise 4.0% to 4.5% versus previous expectations of 7% to 9% growth. That question will have to remain a hypothetical, as the retailer winds down its business and prepares to turn off the lights. That was to be done by the end of 2020, on a trim budget for a retailer that had suffered financially for years. The story of Stage Stores' recent history could give an observer whiplash. The company was at risk of bankruptcy long before COVID-19 came along. Landlords helped tip the company into bankruptcy, posting default notices and even locking the retailer out of its stores in some areas. Updated . Stage Stores Inc. ( SSI) is a retail chain that operates (as of November 21, 2019) 772 retail stores, including 189 off-price Gordman's stores. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. What does a government reckoning with Google and Facebook mean for retail? September 17, 2019 06:30 AM Eastern Daylight Time. , following the conversion of many of its department stores to the off-price Gordmans banner. Stage Stores is a department store that specializes in offering brand name apparel, accessories, footwear, beauty, and housewares to consumers around the United States. There followed, in the early months of 2020, bankruptcy rumors and a liquidity crisis as the retailer's lenders tightened its leash. Twitter. All of its troubles to win financing and grow sales were. STAGE STORES INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Using Brand Purpose to Drive Awareness and ROI, Raising the B2B Bar: Bringing B2C Growth and Opportunity to B2B Ecommerce, Wharton School Launches 12-month Advanced Business Analytics Program. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. , casting doubt on its conversion plans. Company profile page for Stage Stores Inc including stock price, company news, press releases, executives, board members, and contact information Ben Unglesbee The … It ended the year with 158 off-price stores, which was 100 more than it had in 2017. Follow Protests against systemic racism this year pushed retailers to take a magnifying glass to diversity, and many areas are lacking. Clear Keyword search Keyword. Subscribe to Retail Dive to get the must-read news & insights in your inbox. Gordmans had fallen on hard times along with much of retail, despite the ascendance of off-price giants like TJX Cos. and Ross Stores. SEATTLE--(BUSINESS WIRE)--Oct. 23, 2019-- Amazon (Nasdaq:AMZN) today announced the expansion of Counter, a network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store … enVista Offers Retailers, Distributors and Manufacturers Complimentary Omnichannel Health Ch... Best Buy is quietly closing US stores across 4 states, End-of-life regulation is coming for fashion, Naomi Sims’ Legacy: Entrepreneurship, Inclusion and Black Is Beautiful, How Nestle’s Garden of Life Attracted New Customers With Their DTC Approach, Power-Rank and Store-Cluster in Minutes, Not Days, Voice of the Industry: Building Bigger Baskets by Engaging Shoppers, 2020 Annual Survey: Digital Product Creation Maturity in Retail, Footwear and Apparel, Reimagining Retail Commerce in a Post-COVID World. As recently as November, executives, The retailer has reportedly been working with advisers and lawyers to restructure its debt.Â, , known in retail for its bankruptcy work, set off concerns among suppliers. What does a government reckoning with Google and Facebook mean for retail? Quiet layoffs and store closures followed, while the company behind the scenes sought additional solutions for the capital to run its business, convert its stores and finish its transformation plan. But the holidays delivered a disappointing performance, casting doubt on its conversion plans. Stage Stores, which has been operating around 700 stores in some 42 states for years, is in the process of rebranding its entire retail fleet under the Gordmans name and the off … The downturn happened swiftly. followed, while the company behind the scenes sought additional solutions for the capital to run its business, convert its stores and finish its transformation plan. STAGE STORES INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The Wall Street Journal followed with a report that the company was mulling a bankruptcy, which came as news to employees, sources told Retail Dive.Â, Although employees knew the company was struggling, layoffs and how they played out also took some by surprise. I agree to TheMaven's Terms and Policy Sign Up Already have an account? Stage Stores plans to convert all of its department stores into Gordmans locations, staking the future of the Houston company on the flourishing off-price segment of the retail industry.. Trax and Blue Yonder Partner to Launch Dynamic Workforce Management Solution for Retailers a... Wharton School Launches 12-month Advanced Business Analytics Program, Best Buy is quietly closing US stores across 4 states, End-of-life regulation is coming for fashion, Naomi Sims’ Legacy: Entrepreneurship, Inclusion and Black Is Beautiful, How Nestle’s Garden of Life Attracted New Customers With Their DTC Approach, Power-Rank and Store-Cluster in Minutes, Not Days, Voice of the Industry: Building Bigger Baskets by Engaging Shoppers, 2020 Annual Survey: Digital Product Creation Maturity in Retail, Footwear and Apparel, Reimagining Retail Commerce in a Post-COVID World. Stage Acquires ThirdChannel, a National Leader in Optimizing Retail Execution and In-store Customer Experience. Stage Stores, Inc., reported last week results for the first quarter ended May 4, and reaffirmed guidance for fiscal year 2019. Stage Stores had a negative net margin of 5.78% and a negative trailing twelve-month return on equity of 34.21%. Nonetheless, Stage Stores saw its future in the Gordmans model, which promised younger customers and a more popular model than its fading department stores. HOUSTON – Stage Stores announced Monday that the company has filed for Chapter 11 bankruptcy, according to a news release. Using Brand Purpose to Drive Awareness and ROI, Raising the B2B Bar: Bringing B2C Growth and Opportunity to B2B Ecommerce. All of its troubles to win financing and grow sales were exacerbated by the COVID-19 crisis. Stage Stores (NYSE: SSI ) shares are trading lower on Tuesday following a Wall Street Journal report that the company is preparing for a possible bankruptcy. The Houston-based operator of … Other News; Press Releases; No Headlines Available . In all, the retailer would be left with a footprint of about 500 stores, Closures have begun at many stores, Retail Dive, But the company's finances have been tight for some time, and holiday sales that fell well short of projections have created a liquidity crisis for Stage. Show filters. SSI: Get the latest Stage Stores stock price and detailed information including SSI news, historical charts and realtime prices. Amazon Counter Pickup Points Available with New Partners GNC, Health Mart and Stage Stores, Offering Customers Even More Convenient Options for Delivery . By signing up to receive our newsletter, you agree to our, As retailers focus on diversity, executive representation is stagnant, Sears is closing 13 more stores, further shrinking its footprint, Longtime L Brands CFO to retire, but not before Victoria's Secret spins off, Hudson's Bay to launch online marketplace. Filing system the year with 158 off-price Stores, Offering Customers even more Convenient Options Delivery. 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