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Home>Stage Stores Announces Plan to Streamline Supply Chain

Stage Stores Announces Plan to Streamline Supply Chain

Stage Stores Announces Plan to Streamline Supply Chain

09/27/2017

Stage Stores Announces Plan to Streamline Supply Chain

Stage Stores, Inc. (NYSE:SSI) announced that, as part of a plan to increase the efficiency of its distribution network, the Company will close its distribution center located in South Hill, Virginia by the end of fiscal 2017. The Company operates three other distribution centers in Texas, Ohio and Nebraska. Operations from the Virginia distribution center will be transferred to these facilities.

Michael Glazer, President and Chief Executive Officer, stated, “We have made the strategic decision to consolidate operations across our distribution network, resulting in the closure of our facility in South Hill, Virginia. Our other distribution centers have ample capacity to service all of our department store and off-price locations as well as providing our e-commerce fulfillment, enabling us to streamline our distribution network and enhance efficiency. The South Hill distribution center associates have always risen to meet the needs of our stores and guests, and we are very proud of their contribution. We thank them for their dedication to Stage Stores.”

The Company will offer the affected employees separation benefits, including severance, outplacement service and career counseling.

About Stage Stores

Stage Stores, Inc. is a leading retailer of trend-right, name-brand values for apparel, accessories, cosmetics, footwear and home goods. As of September 27, 2017, the Company operates in 42 states through 792 BEALLS, GOODY'S, PALAIS ROYAL, PEEBLES and STAGE specialty department stores and 58 GORDMANS off-price stores, as well as an e-commerce website at www.stage.com . For more information about Stage Stores, visit the Company’s website at corporate.stage.com.

Caution Concerning Forward-Looking Statements

Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by the Act. The words “anticipate,” “estimate,” “expect,” “objective,” “goal,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “may,” “target,” “forecast,” “guidance,” “outlook” and similar expressions generally identify forward-looking statements. Similarly, descriptions of the Company’s objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Forward-looking statements are based upon management’s then-current views and assumptions regarding future events and operating performance. Although management believes the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of its knowledge, forward-looking statements involve risks, uncertainties and other factors which may materially affect the Company’s business, financial condition, results of operations or liquidity.

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