The CEO of Stage Stores blamed warm weather and cheap gas prices for a drop in same-store sales over the holidays.
The company said same store decreased 2.5% for the 10-week period ending Jan. 9.
A decades-old apparel retailer finds itself no longer in fashion, undone by fast-fashion competition and a lack of e-commerce expertise.
Joyce Leslie filed for Chapter 11 bankruptcy court protection in White Plains, New York, and is a likely candidate for liquidation, Women’s Wear Daily reported. The chain, founded in 1945, operates 47 stores throughout the Northeast.