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Stage Stores Plans To Convert Addl. 100 Stores To Gordmans Off-price In 2020

Stage Stores Inc. (SSI) said that it plans to convert an additional 100 stores to Gordmans off-price in 2020, bringing the total number of 2020 off-price conversions to 250.

In 2019, the company expects to complete 89 conversions, including 37 converted stores in March, 35 converted stores and one new store in June, and 17 planned conversions in September.

The company said it expects to end Fiscal 2019 with 158 Gordmans stores. Inclusive of the 100 additional conversions planned for next year, 2020 Gordmans store count will now exceed 400 stores and 2020 Gordmans sales are expected to be well in excess of 50% of total company sales.

The 2019 store closing guidance is updated to 55 to 60 from the previous guidance of 40 to 60.

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