Stage Stores said Monday that it will convert its Magnolia location into a unit of the company’s “Gordmans” off-price retailer in 2020.
There was a “Store Closing” sign at the front of the Magnolia store in the University Shopping Center this weekend.
However, Blakeley Graham, manager of Brand Publicity for Stage, said in an email that the Magnolia location will be among its locations that will be changed to the Gordmans nameplate in the next fiscal year.
“Off-price” retailers are those that buy overstocked goods made by name-brand companies, or which make big purchases of products are on the low-end of a demand cycle. The result is that they are able to price goods to consumers at lower average prices.
The company said in a September statement that based on the recent success of its conversion strategy, it will convert its remaining department stores in February 2020. It expects to be operating approximately 700 predominantly small-market off-price stores under the “Gordmans” name 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. A few Stage stores will continue to operate under their current nameplate.
“Shoppers are responding positively to Gordmans’ off-price concept, which means Gordmans has a wide array of popular brand name merchandise for the entire family at the lowest possible prices compared to department stores,” Graham said in a statement to magnoliareporter.com .
Gordmans will have fresh, new merchandise deliveries arriving weekly.
“There will always be something new to discover when it comes to popular name brand apparel, home décor, footwear, gifts, accessories, fragrances and more for the entire family. Guests can use their Stage-brand private label credit card, Style Circle Rewards and Stage-brand gift cards at Gordmans,” Graham said.
After the official closure of the Magnolia Stage store, there will be a two-week period during which it will remain closed for rebranding and restocking before the reopening as a new Gordmans..
“During the transition of our stores to Gordmans, our associates at these stores will be offered jobs at Gordmans. Additional associates will be hired during job fairs, which will be announced at a later date. We will provide you with additional details as the plans progress,” Graham said.
Stage also operates South Arkansas stores in El Dorado, Crossett, Camden, Monticello, Hope, Arkadelphia, De Queen and TEXarkana.
Gordmans traces its history to Omaha, NE, where a man named Sam Richman opened a store in 1915 called Outfitters to the Family. Dan Gordman joined the business and married Richman’s daughter, Esther.
Gordman later purchased Richman’s interest in the small company and changed the name to Richman Gordman. The company went through an expansion in the 1970s beyond its Nebraska base.
The company opened 1/2 Price Store locations starting in 1975, and it was that part of the company that survived Gordmans’ 1992 bankruptcy restructuring. ½ Price Stores were rebranded as Gordmans in 1996 before the new company went into bankruptcy in 2017.
Stage Stores bought 48 Gordmans stores and a distribution center during Gordmans’ court-ordered liquidation.
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