Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, August 27, 1993 TAG: 9308270141
SECTION: BUSINESS PAGE: A9 EDITION: METRO
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: LENGTH: Medium
Mike Moorman, Peebles chairman, said renovation of the building will begin soon and the store should open by November.
"Rocky Mount is our kind of town," he said.
Moorman said Leggett's departure left a retail void in the Franklin County town that he thinks Peebles can fill.
"The market is underserved as far as traditional department stores go and that location is ideal for us, because most of our stores are located in similar communities."
Peebles and Leggett are alike in that both carry name-brand apparel, including Levi Strauss, Reebok, Nike, Union Bay and Bugle Boy.
But the two companies appear opposite in their growth strategies.
While Leggett has been closing small downtown stores and focusing on larger metropolitan areas, Peebles continues to thrive in communities of 10,000 to 25,000 households.
Leggett pulled out of the Rocky Mount store in April.
Peebles has 50 stores in five states - 20 in Virginia - and this is the second new store announced for Western Virginia this year.
The privately held company will open a store in Christiansburg next month at the former Hess's in New River Valley Mall.
Moorman said Peebles would use only the first floor of the two-story Rocky Mount store.
"People don't care that much for stairs and elevators; and we can merchandise it on one floor, so we will," he said. "We'll have plenty of room."
Peebles had more than $140 million in sales last year.
Besides Virginia, Peebles has stores in Delaware, Kentucky, Maryland, North Carolina, New Jersey, South Carolina and Tennessee.
by CNB