Peebles to become a Gordmans
Stage Stores Inc. of Houston, which operates in 42 states under the brand-names Peebles, Beals, Goody’s, Palais Royal, Stage, and Gordmans, announced yesterday that it will convert the bulk of its stores to Gordmans.
Gordmans is the off-price brand of Stage, which the company said delivers “higher sales with less inventory.” The company has already converted 98 stores.
“The performance of our converted stores clearly demonstrate that this strategy is working, as evidenced by our positive second quarter comparable sales momentum which has accelerated during the third quarter,” the company said.
Stage plans to operate 700 stores under the Gordmans brand by the fall of 2020 and 40 stores will be closed. The Peebles location in Chestertown will remain open, said a representative of the Chestertown store yesterday.
The store will close for eight days in the spring of 2020 and re-open as Gordmans, the rep said.
Washington College Property in Play
In other local economic news, Washington College President Kurt Landgraf confirmed yesterday that an offer has been made for the 13-acre parcel the college purchased in 2006 at 300 Washington Ave — adjacent to the Lamotte Company.
Landgraf said the college hopes to complete the sale before the end of the year.
The property is zoned RB Professional, allowing for “professional and business office buildings.”