Now, Stage Stores expects to be operating about 700 Gordmans off-price stores, predominantly in small markets, by the third quarter of fiscal 2020, according to a Sept. 17 press release. A limited number of stores could continue operating under their existing brands until their leases allow them to close, per the release. The company plans to close about 40 stores during fiscal 2020, which ends Feb. 2, 2021. As of July, the company planned to close between 55 and 60 stores in fiscal 2019. "We are excited about our future as we fully transition to an off-price business model," Stage Stores CEO Michael Glazer said in the release. "Since 2018, we have converted 98 department stores to off-price, including 17 small-market conversions which are grand opening today in Michigan, Pennsylvania, Ohio, Kentuck and Tennessee.