Another day, another struggling retailer. Not to be cavalier about it, but these are tough times for retail businesses and one of the first things they must do is be realistic about what is and isn’t possible. We saw that with the reckless Ron Johnson era at Penney but today we appear to be seeing it again at Stage Stores, a 700-unit retailer that operates under a number of different name plates. A few months ago it said it would convert its entire retail fleet to an off-price format under one of its names, Gordmans. But it appears it had neither the financial resources nor the time to make this happen. The result ar reports of store closings and layoffs and speculation that it will file for bankruptcy sooner rather than later.
Businesses have to be smart about these things, there’s no place for Stupidity. More details in my new Forbes.com post: https://www.forbes.com/sites/warrenshoulberg/2020/02/26/do-reports-of-store-closings-and-layoffs-at-stage-stores-mean-the-final-act-is-near/#36bf1590588d