As of Apr 29, 2017, the company operated 795 department stores located in 38 states, under the Bealls, Goody’s, Palais Royal, Peebles and Stage nameplates, and 57 Gordmans stores.
In fiscal 2016, the company closed 37 existing stores. During the first quarter of 2017, the company closed 2 stores and acquired 57 Gordmans stores on Apr 7, 2017, through a bankruptcy auction. In fiscal 2017, the company expects to close 15 to 20 locations. In August of 2015, the company announced a multi-year plan to close approximately 90 underperforming stores representing 4% of total sales.
The company owns 6 stores and the remainder are leased, typically for a 10-year initial term with 2 renewals of 5 years each.
Stores are primarily located in strip shopping centers in which they are typically one of the anchor stores, as well as local or regional shopping malls and either free standing or downtown buildings. Stores range in size from approximately 5,000 to 67,000 selling square feet, with the average being approximately 18,000 selling square feet, and selling space represents about 87% of overall store square footage.
|Total gross square feet (M)||18,540||16,766||17,389||17,710||18,158||17,967|
|Total gross square feet growth||7.6%||-3.6%||-1.8%||-2.5%||1.1%||3.8%|
|Avg store gross sq ft||21,800||21,000||20,900||20,700||20,600||20,800|
|Avg store gross sq ft growth||4.1%||0.9%||0.5%||0.8%||-1.1%||-2.3%|