Houston–Stage Stores hopes to bring off-price concept stores to “small town America.”
The company which operates 805 stores in 40 states under the Bealls, Goody’s, Palais Royal, Peebles and Stage brands, is launching Steele’s, an off-price store that will sell brand name apparel, accessories, footwear and home décor at 30% to 60% off.
“We are very excited to be adding an off-price concept to our retail mix. Steele’s is a perfect complement to our successful small town department store business model and expands our small town customer reach,” said Andy Hall, president/ceo, on Tuesday.
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“Last year, we began developing our off-price concept with the goal to leverage our small market expertise with a complementary format to our department store model. Our research indicates that there is significant growth potential in the under-served small market off-price niche,” Hall said. “We believe the Steele’s customer will not overlap with those in our department store model as Steele’s is targeting a lower household income consumer.”
The first Steele’s doors will open November 1 in Beeville,Texas, Bastrop and Minden, Louisiana. Stage plans to open between 25 and 35 10,000- to 12,000-square foot Steele’s stores in next year, mostly in small town strip centers.
Steele’s is headquartered in New York City and operates as a stand-alone buying division. Leading the division is Lisa Seigies, Steele’s chief merchandising officer. Seigies has more than 25 years of retail experience and prior to joining Stage Stores, she spent five years at Ross Stores as group vice president.
“With a wealth of off-price knowledge, strong leadership skills and over 25 years of retail experience, Lisa is extremely well qualified to help develop and lead Steele’s,” added Hall.
While Steele’s is being rolled out, Hall said Stage still plans expansion in its department store division, too, with 30 to 35 new stores planned next year. www.stagestoresinc.com.