By By Adam Prestridge
Since selling to Stage Stores, Inc., the Atmore B.C. Moore &Sons, Inc. has been slowly selling its inventory for its final closure.
Tuesday, Stage Stores, Inc. announced that it will hold a grand opening of a brand new Peebles store located at 141 Lindberg Ave.
"The acquired locations represent an exceptional geographic fit with our existing store base with only a two-store overlap," Stage Stores, Inc. chairman and chief executive officer Jim Scarborough said in late February. "Additionally, the locations meet our size and market demographics criteria, since the typical B.C. Moore store is located in a market area of less than 50,000 people, is strip shopping center based, and has an average of approximately 14,300 selling square feet. We expect to realize operating synergies as these stores are converted to Peebles stores, incorporated into our existing distribution system and managed from our South Hill, Virginia administrative offices."
Atmore Mayor Howard Shell is pleased with the approaching arrival of Peebles.
"We are certainly proud that Peebles selected Atmore for one of their stores," he said. " We feel like they will certainly be welcomed into town by the community. We know that they are going to handle a variety of clothing that the citizens of Atmore will enjoy having in their town. They're joining a number of retailers that we are fortunate to commit to Atmore the past few week; O'Reilly's, weeks; O'Reilly's, Walgreens and several more that are interested in coming to town. We're very fortunate at this time to have the retailers select Atmore."
B.C. Moore &Sons, Inc. entered into a "definitive agreement" with Stage Stores, Inc. in late February to sell its properties in Alabama, Georgia, North Carolina and South Carolina.
Stage Stores, Inc. later purchased the privately owned retail outlet for approximately $37 million. In purchasing B.C. Moore, Stage Stores, Inc. will acquire 78 retail locations, located in small markets including the Atmore and Brewton stores. The company's integration plan calls for 69 of the acquired locations to be converted into Peebles stores, and closing the remaining nine locations.
"We are extremely enthusiastic about this transaction due to its significant strategic benefits," Scarborough said. "It expands and strengthens our position in the Southeast, and it provides us with good real estate locations in many of our targeted markets in these states. It also eliminates a potential competitor, and it is consistent with our corporate strategy of increasing the concentration of our store base into smaller and more profitable markets."
All merchandise inventories will be liquidated at B.C. Moore's locations, and the continuing 69 stores will be remodeled, re-merchandised and reopened as Peebles stores. The grand openings of the newly converted Peebles stores will occur in phases beginning in July and continuing until October. Atmore was one of the first B.C. Moore's locations to go through the transition.
According to a release issued on Tuesday, Atmore residents and residents in surrounding areas will have easier access to name-brand fashions than ever before. Peebles will offer the latest fashions, as well as tried-and-true classics, from top name brands, and all at the best prices, according to Stage Stores, Inc.
Peebles is a one-stop shop offering misses, juniors, men's, children's, shoes, cosmetics, fragrances, accessories and home decor department, all under one roof. A few of the brand names Peebles offers include Tommy Hilfiger, Rafaella, Liz Claiborne, Elizabeth Arden, Guess, Docker, Nautica, South Pole, Chaps, Jockey, Levi's, Carter's, Nike and Clarks.
Peebles will also offer Peebles credit card customers VIP Rewards Program rewards. Customers age 50 and over also receive special discounts.
Stage Stores, Inc., the parent company of Peebles, operates more than 560 stores in 31 states under the Peebles name throughout the New England, Mid-Atlantic, Southeastern and Midwestern states, and under the Stage, Bealls and Palais Royal names throughout the Southern Central states.