SSI - Stage Stores - Recent Developments Do Not Bode Well For Equityholders
A little over two months ago, I wrote a bullish piece on ailing department store operator Stage Stores (SSI) after the company reported blowout Q3/FY2019 numbers and raised full year guidance materially on the heels of strong department store sales performance ahead of the upcoming conversion to the Gordmans off-price format.
From November 20, 2019 to January 7, 2020 the share price rallied by more than 300% on strong volume as the perceived turnaround story spread among market participants.
Only fellow contributor Josh Arnold wasn't entirely convinced by the company's apparent progress at