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Stage Goes All-In on Off-Price, Closes 40 Struggling Department Stores

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Off-price is looking like a much better bet than the department-store sector. Stage Stores Inc., struggling with its department store operations, said Tuesday it will close 40 stores and convert its business model to the off-price nameplate Gordmans. The retailer plans to begin converting its remaining department stores in February 2020, with the small-market Gordmans…

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