Stein Mart to open five new stores this spring

JACKSONVILLE, Fla., 2017-Feb-22 — /EPR Retail News/ — Stein Mart (NASDAQ:SMRT) (the “Company”) today ( Feb. 16, 2017) announced the  locations of its five new stores opening this spring – the first phase of its 2017 store plan to open a total of 11 new stores.

“These new stores fall within our real estate strategy to grow sales by filling existing markets where we are doing well,” said Hunt Hawkins, CEO of Stein Mart. “We look forward to introducing our customers to these new locations where they will always find great values on the best designer and name brand merchandise, in an attractive, easy-to-shop setting.”

The locations and currently scheduled opening dates for Stein Mart’s spring new store group are:

  • Auburn, AL:  Auburn Mall – March 23
  • Bainbridge Township, OH:  Marketplace at Four Corners – March 16
  • Brentwood, TN:  Brentwood Place – March 16
  • Cincinnati, OH:  32 East – March 30
  • Marietta, GA:  Parkside at Cobb West – March 9

In addition, the Company is relocating one store from Morrisville, NC to a new location at Parkside Town Commons in Cary on March 30 and is planning to close five under-performing stores during 2017. The locations of the six new fall stores, which are scheduled to open in September and October, will be announced this summer.

About Stein Mart
Stein Mart, Inc. (NASDAQ:SMRT) is a national retailer offering designer and name-brand fashion, accessories and home decor at everyday discount prices. Stein Mart provides real value that customers will love every day both in stores and online. The Company currently operates 290 stores across 31 states. Stein Mart is adding new modern brands to its stores to offer discriminating shoppers even more of the fashion and savings they want. For more information, please visit www.steinmart.com.

For more information:

Linda L. Tasseff
Director
Investor Relations
(904) 858-2639
ltasseff@steinmart.com

Source: Stein Mart, Inc./globenewswire

Stein Mart, Inc. announces its comparable store sales for November and December 2016

JACKSONVILLE, Fla., 2017-Jan-13 — /EPR Retail News/ — Stein Mart, Inc. (NASDAQ:SMRT) today (Jan. 06, 2017) announced that its comparable store sales for the nine-week period ended December 31, 2016 decreased 4.8 percent and total sales decreased 1.9 percent compared to the same period last year.

“Our sales in November and December were particularly difficult,” said Hunt Hawkins, Interim Chief Executive Officer. “We have been aggressive with our promotions and markdowns to manage our inventory levels. This has impacted our gross profit rate and, as a result, we are now expecting to report a loss for the fourth quarter but will be profitable for the year.”

Stein Mart is scheduled to report fourth quarter sales and earnings prior to the opening of the U.S. financial markets on Thursday, March 9, 2017.

ICR Conference          
Stein Mart, Inc. also announced today that it will be presenting at the 2017 ICR Conference being held at the Grande Lakes Resort in Orlando, FL on Tuesday, January 10, 2017 at 11:00 a.m. Eastern Time. The audio portion of the presentation will be webcast live through Stein Mart’s investor relations website http://ir.steinmart.com. The webcast and presentation materials can be found under “Events & Presentations”. An archive of the presentation will remain available for 30 days after the live event.

About Stein Mart
Stein Mart, Inc. (NASDAQ:SMRT) is a national retailer offering designer and name-brand fashion, accessories and home decor at everyday discount prices. Stein Mart provides real value that customers will love every day both in stores and online. The Company currently operates 290 stores across 31 states. Stein Mart is adding new modern brands to its stores to offer discriminating shoppers even more of the fashion and savings they want. For more information, please visit www.steinmart.com.

For more information:
Linda Tasseff
Director
Investor Relations
(904) 858-2639
ltasseff@steinmart.com

Source: Stein Mart, Inc./globenewswire