Stage Stores Completes the Acquisition of Bc Moore & Sons, Inc

Total Page:16

File Type:pdf, Size:1020Kb

Stage Stores Completes the Acquisition of Bc Moore & Sons, Inc Exhibit 99.2 NEWS RELEASE CONTACT: Bob Aronson Vice President, Investor Relations 800-579-2302 ([email protected]) FOR IMMEDIATE RELEASE STAGE STORES COMPLETES THE ACQUISITION OF B.C. MOORE & SONS, INC. HOUSTON, TX, February 27, 2006 - Stage Stores, Inc. (Nasdaq: STGS) today reported that it has completed its previously announced acquisition of privately held B.C. Moore & Sons, Inc. (“B.C. Moore”). In purchasing B.C. Moore, the Company acquired 78 retail locations, which are located in small markets throughout Alabama, Georgia, North Carolina and South Carolina. The Company’s integration plan calls for 69 of the acquired locations to be converted into Peebles stores, and the remaining 9 locations will be closed. The acquisition expands and strengthens the Company’s position in the Southeastern United States, and is consistent with its corporate strategy of increasing the concentration of its store base into smaller and more profitable markets. Jim Scarborough, Chairman and Chief Executive Officer of Stage, commented, “We are pleased to have completed this acquisition so quickly, and we enthusiastically look forward to entering these new markets with our Peebles store format. Our new customers in these markets will enjoy our exceptional service, exciting brand names, merchandise selections, and value in easy-to-shop and conveniently located stores.” Stage Stores, Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small and mid-size towns and communities. The Company currently operates 376 Bealls, Palais Royal and Stage stores throughout the South Central states, and operates 174 Peebles stores throughout the Midwestern, Southeastern, Mid-Atlantic and New England states. On February 27, 2006, the Company acquired 78 retail locations from B.C. Moore & Sons, Inc., and currently plans to convert 69 of them to its Peebles name and format beginning in mid July. For more information about Stage Stores, visit the Company’s web site at www.stagestores.com. #### .
Recommended publications
  • In the United States District Court for the Northern District of Alabama Western Division
    Case 7:13-cv-08056-IPJ Document 4 Filed 01/15/14 Page 1 of 20 FILED 2014 Jan-15 PM 12:51 U.S. DISTRICT COURT N.D. OF ALABAMA IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION BRANDON TERRELL PEEBLES, ) ) Petitioner, ) ) v. ) CV: 13-cv-08056-IPJ ) CR: 10-cr-00144-IPJ-HGD-1 ) UNITED STATES OF AMERICA, ) ) Respondent. ) MEMORANDUM OPINION Petitioner Brandon Terrell Peebles moves the court to vacate, set aside, or correct his sentence pursuant to 28 U.S.C. § 2255 (doc. 1). Peebles entered a “blind” guilty plea, and the court entered judgment against him on March 2, 2011 (crim. doc. 16). Peebles pleaded guilty to one count of Carjacking in violation of 18 U.S.C. § 2119 (Count One), and one count of Carrying a Firearm During and in Relation to a Crime of Violence in violation of 18 U.S.C. § 924(c)(1)(A)(ii) (Count Two). Id. The court sentenced Peebles to a term of sixty months on Count One and a consecutive term of eighty-four months on Count Two. Id. Peebles did not appeal the court’s judgment. 1 Case 7:13-cv-08056-IPJ Document 4 Filed 01/15/14 Page 2 of 20 Peebles filed the instant 2255 motion on December 16, 2013 (doc. 1).1 The court ordered the United States to show cause as to why Petitioner should be denied relief (doc. 2). The United States filed its response in opposition to Petitioner’s motion on January 8, 2014 (doc.
    [Show full text]
  • Why Stage Stores Closing Matters
    By Bill Read retail strategies May 14, 2020 REPORT Why Stage Stores closing matters The retail community knew there would be retail fall-out from Covid-19. Retail stores have been suffering, and Stage Stores has filed Chapter 11, closing all its stores. The chain is being put up for sale, in part or whole. Stage operated stores under various names, including Goody’s, Bealls, and Palais Royal. However, you would not find these stores in major metro markets across the country. Stage is well known for locating in the county seat of America’s small towns. Rural America needed access to affordable clothing and department stores with multiple categories of products lines. As Stage Stores matured, it was finding its place in retailing as an off-price discount apparel store. Following in the success of TJ Maxx, Ross, and Burlington stores, Stage’s plan was to convert all stores to the Gordmans’s name and operate as an off-price fashion store. The store conversions were being well received by their small-town audiences, but Covid-19 was more than they could handle. Texas will be the most affected by the closings, with 186 stores set to begin going-out-of-business sales. While 13 other states had between 20 to 40 stores, Texas has the most stores by far, with 4.5 million square feet. Its too early to tell if a retailer will step up and buy the store locations or leases, but in today’s climate for new stores, it will be a challenge finding a buyer.
    [Show full text]
  • Supplemental Financial Information June 30, 2004 (Unaudited)
    Supplemental Financial Information June 30, 2004 (Unaudited) Table of Contents Page No. Corporate Profile 1 Statements of Consolidated Income 2 Consolidated Balance Sheets 3 Statements of Consolidated Income at Prorata Share 4 Consolidated Balance Sheets at Prorata Share 5 Summary Operating Data 6 Funds from Operations Dividends General and Administrative Expenses Net Operating Income Rentals Interest Expense Property Financial Statements of Unconsolidated Joint Ventures at Prorata Share 8 Summary Balance Sheet Information 9 Common Share Data Capitalization Capital Availability Credit Ratings Debt Information 10 Outstanding Balance Summary Fixed vs Variable Rate Debt Secured vs Unsecured Debt Coverage Ratios Weighted Average Interest Rates Schedule of Maturities Other Information 12 Tenant Diversification Lease Expirations Leasing Production Average Minimum Rent per Square Foot Property Information 14 Acquisition Summary New Development Summary Property Investment Summary Disposition Summary Occupancy Property Listing This supplemental financial information package contains historical information of the Company and is intended to supplement the Company’s Annual Report on Form 10-K for the year ended December 31, 2003, and its unaudited quarterly financial statements. Certain information contained in this Supplemental Financial Information package includes certain forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term that involve a number of risks and uncertainties; however, many factors may materially
    [Show full text]
  • Stage Stores, Inc
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________ FORM 10-K (Mark One) ; ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 29, 2011 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File No. 1-14035 Stage Stores, Inc. (Exact Name of Registrant as Specified in Its Charter) NEVADA 91-1826900 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 10201 MAIN STREET, HOUSTON, TEXAS 77025 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (800) 579-2302 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock ($0.01 par value) New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No ; Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No ; Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Retail Market Analysis
    RETAIL MARKET ANALYSIS WEST CENTRAL DISTRICT ALBUQUERQUE, NEW MEXICO Prepared For: STRATA DESIGN 305 Hermosa NE Albuquerque, New Mexico 87108 Prepared By: GIBBS PLANNING GROUP, Inc. 201 W. Mitchell Street, No. 150 Petoskey, Michigan 49770 19 January 2011 TABLE OF CONTENTS INTRODUCTION…………………………………………………………………………. 1. Figure 1: West Central Study Area Map……………………………………………… 1. Executive Summary …………………………………………………………………….. 1. Figure 2: West Central gateway photo………………………………………………. 2. Background…………………………………………………………………………….…. 2. Figure 3: Primary Trade Area Map……………………………………………………. 3. Figure 4: West Central gateway photos………………………………………….…… 4. Methodology……………………………………………………………………………… 4. Figure 5: Unser Crossing photos………………………………………………….…... 5. Limits of Study …………………………………………………………………….…….. 6. Figure 6: Primary and Secondary Trade Area Map ……………………………….. 7. Trade Area……………………………………………………………………………….. 7. Demographic Characteristics………………………………….………………………. 8. Table 1: Demographic Comparison Table ………………………………………….... 8. Tapestry Lifestyles …………………………………………………………………….... 9. Table 2: Tapestry Lifestyles…………………………………………………………….. 9. Figure 7: Tapestry Lifestyles Segmentation Graph………………………………….. 12. Employment Base ……………………………………………………………………… 12. Table 3: Employment by Sector………………………………………………………… 13. TRADE AREA CHARACTERISTICS……………………………………………….…. 13. Location…………………………………………………………………………………… 13. Access………………………………………………………………………………..……. 13. Table 4: Traffic Counts ………………………………………………………………… . 14. Other Shopping Areas …………………………………………………………….…….
    [Show full text]
  • Stage Stores Reports February Sales Announces
    Exhibit 99 NEWS RELEASE CONTACT: Bob Aronson Vice President, Investor Relations 800-579-2302 ([email protected]) FOR IMMEDIATE RELEASE Stage Stores Reports February Sales Announces Participation at Bank of America Merrill Lynch 2011 Consumer Conference HOUSTON, TX, March 3, 2011 - Stage Stores, Inc. (NYSE: SSI) today reported that its total sales for the four week February period ended February 26, 2011 decreased 5.1% to $94 million from $99 million in the prior year four week period ended February 27, 2010. Comparable store sales decreased 7.2%. Andy Hall, President and Chief Executive Officer, commented, “We were pleased with the way the business performed in the second half of the month, with comparable store sales up approximately 10%. Unfortunately, this was not enough to offset the weakness we experienced in the first half of February, as a result of extreme weather conditions in the center of the country, most notably Texas, Oklahoma, Arkansas and Missouri, which represent close to 51% of our comparable store sales base.” Mr. Hall concluded, “Our inventories are well managed and our underlying fundamental traffic trends remain solid. As a result, we are projecting a 1% to 3% increase in comparable store sales for the first quarter, and will provide additional guidance for the quarter and fiscal year in our fourth quarter 2010 earnings release next Tuesday.” Store Activity There were no store openings during February, while one store was closed as a result of the store’s roof collapsing, due to excessive weight from accumulated snow, and another store was closed due to smoke damage from a fire in a neighboring store.
    [Show full text]
  • ROYAL SQUARE SHOPPING CENTER 768 Putney Road (Route 5) Brattleboro, VT 05301
    COVER OVERVIEW DEMOGRAPHICS SITE PLAN AERIAL CENTER PHOTOS CONTACT ROYAL SQUARE SHOPPING CENTER 768 Putney Road (Route 5) Brattleboro, VT 05301 ALDI • STAPLES • PEEBLES • PLANET FITNESS COVER OVERVIEW DEMOGRAPHICS SITE PLAN AERIAL CENTER PHOTOS CONTACT ROYAL SQUARE SHOPPING CENTER 768 Putney Road (Route 5) Brattleboro, VT 05301 ALDI • STAPLES • PEEBLES PLANET FITNESS Royal Square is a highly trafficked, 108,000 square foot shopping center featuring ALDI, Staples, Peebles, Planet Fitness, and Mattress Firm. The center bustles because this excellent mix of stores meets the daily needs of today’s busy consumer. LOCATION TRADE AREA AVERAGE DAILY TRAFFIC The center is just off Exit 3 of I-91 and Brattleboro is a regional draw for I-91 at Exit 3: 25,000 neighbored by Hannaford, Rite Aid, shopping and services to all the Putney Road/Route 5: 15,000 McDonald’s, Wendy’s, Advanced Auto, surrounding southeastern and Family Dollar. Vermont towns. (2018 SitesUSA) The center boasts a signalized entrance and plentiful parking. Management & Leasing by Wilder | www.wilderco.com MAy 2019 COVER OVERVIEW DEMOGRAPHICS SITE PLAN AERIAL CENTER PHOTOS CONTACT ROYAL SQUARE SHOPPING CENTER 768 Putney Road (Route 5) Brattleboro, VT 05301 ALDI • STAPLES • PEEBLES PLANET FITNESS 2018 ESTIMATES 5 MILES 10 MILES 20 MIN DRIVE Population 15,590 30,817 47,566 Average HH Income $71,376 $78,461 $80,504 Median Age 44.3 yrs 45.3 yrs 44.5 yrs 10 MIN DRIVE 15 MIN DRIVE 20 MIN DRIVE Workplace Population 14,915 17,515 30,259 (2018 SitesUSA) Management & Leasing by Wilder | www.wilderco.com
    [Show full text]
  • Outdoor Retailer + Snow Show 2018 Verified Store List January 25 - 28, 2018 • Colorado Convention Center • Denver, Co
    OUTDOOR RETAILER + SNOW SHOW 2018 VERIFIED STORE LIST JANUARY 25 - 28, 2018 • COLORADO CONVENTION CENTER • DENVER, CO This retail store location list details only one unique storefront per city/state and/or city/country that attended Outdoor Retailer + Snow Show 2018. ALABAMA BROWNFIELDS .....................................................................PHOENIX CALIFORNIA 20TH SPECIAL FORCES GROUP (A) ............................BIRMINGHAM C&S SPORTING GOODS .......................................................PHOENIX 153 WESTFIELD INC .......................................................FULLERTON CLIMBERK ................................................................. MONTGOMERY DAWOODBHOY INC ...............................................................TUCSON 180COMMERCE ................................................................CARLSBAD HIBBETT SPORTING GOODS INC .................................BIRMINGHAM FIRST CHAIR RENTAL SHOP ............................................FLAGSTAFF 510SKATEBOARDING .......................................................BERKELEY MOUNTAIN HIGH OUTFITTERS ....................................BIRMINGHAM FOREVER RESORTS ......................................................SCOTTSDALE 707 STREET ................................................................LOS ANGELES PANTS STORE ...........................................................................LEEDS FOSTERS SHOES ...................................................................TUCSON 7P INTERNATIONAL .............................................................
    [Show full text]
  • The Peebles Path to Real Estate Wealth How to Make Money in Any Market
    P1: OTA/XYZ P2: ABC FM JWBK256/Peebles June 30, 2008 7:48 Printer Name: Malloy, Ann Arbor, Michigan The Peebles Path to Real Estate Wealth How to Make Money in Any Market R. Donahue Peebles with J.P. Faber John Wiley & Sons, Inc. i P1: OTA/XYZ P2: ABC FM JWBK256/Peebles June 30, 2008 7:48 Printer Name: Malloy, Ann Arbor, Michigan xii P1: OTA/XYZ P2: ABC FM JWBK256/Peebles June 30, 2008 7:48 Printer Name: Malloy, Ann Arbor, Michigan The Peebles Path to Real Estate Wealth How to Make Money in Any Market R. Donahue Peebles with J.P. Faber John Wiley & Sons, Inc. i P1: OTA/XYZ P2: ABC FM JWBK256/Peebles June 30, 2008 7:48 Printer Name: Malloy, Ann Arbor, Michigan Copyright C 2008 by R. Donahue Peebles. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.
    [Show full text]
  • This Is Not a Mall.1
    This is not a mall.1 The Macerich Company ANNUAL REPORT 2001 For additional information about Macerich, our Form 10-K for the year ended December 31, 2001 is included in this Annual Report for your review. 2001 2000 1999 1998 1997 (All amounts in thousands, except per share and property data) OPERATING DATA Total revenues $ 334,573 $ 320,092 $ 327,444 $ 283,861 $ 221,214 Shopping center and operating expenses $ 110,827 $ 101,674 $ 100,327 $ 89,991 $ 70,901 REIT general and administrative expenses $ 6,780 $ 5,509 $ 5,488 $ 4,373 $ 2,759 Earnings before interest, income taxes, depreciation, amortization, minority interest, extraordinary items, gain (loss) on sale of assets and preferred dividends (EBITDA) – includes joint ventures at their pro rata share (1) $ 323,798 $ 314,628 $ 301,803 $ 230,362 $ 154,140 Net income $ 77,723 $ 56,929 $ 129,011 $ 44,075 $ 22,046 Net income per share – diluted $ 1.72 $ 1.11 $ 2.99 $ 1.06 $ 0.85 OTHER DATA FFO – diluted (2) $ 175,068 $ 167,244 $ 164,302 $ 120,518 $ 83,427 Cash distributions declared per common share $ 2.14 $ 2.06 $ 1.965 $ 1.865 $ 1.78 Portfolio occupancy at year end 92.4% 93.3% 92.8% 93.2% 91.8% Average tenant sales per square foot – mall and freestanding stores $ 350 $ 349 $ 336 $ 319 $ 317 BALANCE SHEET DATA Investment in real estate (before accumulated depreciation) $ 2,227,833 $ 2,228,468 $ 2,174,535 $ 2,213,125 $ 1,607,429 Total assets $ 2,294,502 $ 2,337,242 $ 2,404,293 $ 2,322,056 $ 1,505,002 Total mortgage, notes and debentures payable $ 1,523,660 $ 1,550,935 $ 1,561,127 $ 1,507,118 $ 1,122,959 Minority interest (3) $ 113,986 $ 120,500 $ 129,295 $ 132,177 $ 100,463 Common stockholders’ equity plus preferred stock $ 596,290 $ 609,608 $ 648,590 $ 610,760 $ 216,295 (1) EBITDA, as presented, may not be comparable to similarly titled measures reported by other companies.
    [Show full text]
  • John C. Weld, Jr., Et Al. V. Stage Stores, Inc., Et Al. 99-CV-957-Complaint
    ' 111° II/ s UNITEERDNS DistRicr OUTH TATES CO OF TEXAS FILED MAR 3 1999 Gs liCb8ItJ. MUbydICkrkolcaud UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXAS JOHN C. WELD, JR., On Behalf of § No. 1:1 -9 - 0 9 5 7 Himself and All Others Similarly Situated, S CLASS ACTION § Plaintiff, § § vs. § STAGE STORES, INC., CARL TOOKER, § COMPLAINT FOR VIOLATION OF TYLER INTERNATIONAL, -TYLER S510(b) AND 20(a) OF THE -MASSACHUSETTS, L.P., TYLER CAPITAL § SECURITIES EXCHANGE ACT OF FUND L.P., BCIP TRUST ASSOCIATES S 1934 AND SEC RULE 10b-5 L.P., BCIP ASSOCIATES, BAIN § CAPITAL, INC., BAIN VENTURE § CAPITAL, ACADIA PARTNERS L. P., ACADIA FW PARTNERS L.P._ ACADIA MOP, INC., OAK HILLART1\--TER—S) INC., S SANDRA BORNSTEIN, ERNEST R. CRUSE, S RIGO HERNANDEZ, JERRY C. IVIE, JOANNE SWARTZ, MARK SHULMAN, MEL WARD, DONALD R. WESTBROOK, JAMES § MARCUM, STEPHEN LOVELL, CHARLES § SLEDGE, ADAM KIRSCH, JOSHUA § BEKENSTEIN, PETER G. MULVIHILL, CREDIT SUISSE FIRST BOSTON and BEAR, STEARNS & CO. INC., § § Defendants. S Plaintiff Demand A S Trial By Jury 9S , INTRODUCTION AND OVERVIEW Summary 1. This is an action on behalf of purchasers of Stage Stores, Inc. ("Stage Stores" or the "Company") stock between 5/7/97 and 8/6/98 (the "Class Period"). Stage Stores operates hundreds of retail casual clothing stores in the mid and southwest. 2. In 1988, Stage Stores had been taken "private" in a leveraged buyout ("LBO") arranged and financed by two venture capital groups -- Bain Capital and Acadia (see ¶1118 and 19, infra). After Stage Stores went private, its business performed much worse than expected and one significant acquisition it made was a failure, making Stage Stores a very poor investment for Bain Capital and Acadia.
    [Show full text]
  • Vanderbilt Cardiologist Has a Song in Her Heart
    CLIMER COLUMN Can these Tigers change stripes? Sure, Missouri and Auburn are misaligned. But there’s a bigger issue at hand. EDUCATION College is not P13 the only answer State’s drive to increase DAVIDSONLedger • WILLIAMSON • RUTHERFORD • CHEATHAM WILSON SUMNER• ROBERTSON • MAURY • DICKSONeducation • MONTGOMERY levels is more about jobs than diplomas. P2, 7 Vanderbilt cardiologist See our ad on page 13 has a song in her heart June 9 – 15, 2017 The power of information.NASHVILLE Vol. 43 EDITION | Issue 23 www.TNLedger.com FORMERLY WESTVIEW SINCE 1978 Page 13 Dec.: Dec.: Keith Turner, Ratliff, Jeanan Mills Stuart, Resp.: Kimberly Dawn Wallace, Atty: Mary C Lagrone, 08/24/2010, 10P1318 In re: Jeanan Mills Stuart, Princess Angela Gates, Jeanan Mills Stuart, Princess Angela Gates,Dec.: Resp.: Kim Prince Patrick, Angelo Terry Patrick, Transplant Gates, Atty: Monica D Edwards, 08/25/2010, 10P1326 In re: Keith Turner, TN Dept Of Correction, specialist splits TN Dept Of Correction, Resp.: Johnny Moore, Atty: Bryce Coatney, www.westviewonline.com Dec.: Melinda L Tomlinson, Resp.: Pltf(s): Rodney A Hall, Pltf Atty(s): n/a, 08/27/2010, 10P1336 In re: Kim Patrick, Terry Patrick, Pltf(s): Sandra Heavilon, Resp.: Jewell Tinnon, Atty: Ronald Andre Stewart, 08/24/2010,Dec.: Seton Corp 10P1322 Insurance Company, Dec.: Regions Bank, Resp.: Leigh A Collins, In re: Melinda L Tomlinson, Def(s): Jit Steel Transport Inc, National Fire Insurance Company, Elizabeth D Hale, Atty: William Warner McNeilly, 08/24/2010, time betweenDef Atty(s): J Brent Moore, 08/26/2010,
    [Show full text]