Stage Stores Accelerates Off-Price Conversion Strategy, Anticipates 300 Gordmans Stores By 2020

Stage Stores is accelerating the conversion of its department stores to Gordmans stores after the off-price banner has achieved considerable success. Michael Glazer, President and CEO of Stage Stores, revealed that through mid-March 2019, sales in the nine converted Gordmans locations completed in 2018 grew by more than 150% compared to their department store counterparts.

The retailer has converted 37 stores so far in 2019, but the 35 store conversions that it had previously planned for the back-to-school season will now be completed by June. An additional 10 to 15 stores will be converted to the Gordmans format in Q3. Gordmans sells name brand apparel, accessories, cosmetics, footwear and on-trend home decor at discount prices.

Most of the conversions have taken place in small Midwest markets.

Stage Stores acquired 48 stores and a distribution center from Gordmans in March 2017 after…