Introduction
Stage Stores Inc. (SSI) is a retail chain that operates (as of November 21, 2019) 772 retail stores, including 189 off-price Gordman's stores.
The company's shares traded under a dollar as recently as mid-2019 due to concerns about declining revenue and profitability. However, management surprised investors by announcing excellent preliminary results for a few stores that it had transitioned into off-price stores.
Management announced that it would be converting all of its stores into off-price locations under the Gordman's brand and provided upbeat guidance for Q4 based on Q3 results. Unfortunately,