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We have been watching and writing about Stage Stores (SSI), the department store chain that is converting all of its traditional department stores to the offprice segment.
After a hefty run-up and an almost equally hefty sell-off, we're taking a position for the SHU portfolio, buying 2500 shares at $3.27. The reasons are quite simple:
The conversion to offprice produces a 35%+ lift in sales.
These results are relatively robust, based on four quarters and 97 conversions.
There is much noise and confusion, but this is mostly related to the performance