Content about Stein Mart

JACKSONVILLE, Fla. — Stein Mart has announced its plants to launch its e-commerce business, one of the company's several key initiatives for 2013 following reported financial results. 

The company has restated its 2011 periods and first quarter 2012 results, released its full-year 2012 financial numbers and said it will unveil several key initiatives in 2013.

JACKSONVILLE, Fla. — Stein Mart reported that its total sales for the month of February were $85.2 million, an increase of 5.6% over total sales of $80.7 million for the four-week period ended Feb. 25, 2012. Comparable-store sales for the month increased 0.6%.

JACKSONVILLE, Fla. — Department store retailer Stein Mart remains in non-compliance with NASDAQ listing requirements for failing to file its most recent quarterly report, but the company appears to be doing fine otherwise.

JACKSONVILLE, Fla. — Stein Mart is expanding with the opening of seven stores this fall. The new stores are located in Surprise, Ariz.; Katy, Texas; Tucson, Ariz.; and Charlottesville, Va. The McAllen, Texas; Biloxi, Miss.; and San Dimas, Calif., stores are a relocation of another area store to improve sites.

The four new and three relocated stores bring Stein Mart's total store count to 263 at the end of this year.

JACKSONVILLE, Fla. — Stein Mart's net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year. The chain said it was returning to its strategy of emphasizing everyday low prices after heavy coupon promotions took a toll on the retailer's financial performance during the past year.

Revenue for the quarter ended Jan. 28 was down nearly 3% to $328.1 million, from $336.7 million. Same-store sales were down 2.2%.

JACKSONVILLE, Fla. -- Stein Mart has plans to open three new stores on March 15, located in Irvine, Calif.; Suwanee, Ga.; and Sunset Hills, Mo.

The Irvine store is a relocation of another Irvine location. The two new and one relocated store bring Stein Mart’s total store count to 264.

“We are pleased to announce the expansion of our footprint in these three existing markets,” said Jay Stein, interim CEO.

Stein Mart released restated third-quarter results Friday that showed an upwardly revised loss that wasn’t quite as bad as originally feared.

JACKSONVILLE, Fla. — Discount retailer Stein Mart named Hunt Hawkins COO and expanded his responsibilities to include store operations and e-commerce at the 263-unit chain. Hawkins previously served as EVP and chief administrative officer with responsibility for information technology, supply chain and human resources, responsibilities he will retain in his new role.

JACKSONVILLE, Fla. — Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David Stovall, Jr., who has held that position since 2008.

"On behalf of the board, I want to thank Dave for his service to Stein Mart over the last three years, and in particular, his accomplishments in returning the Company to solid profitability," said Jay Stein, chairman of the board of Stein Mart. "We wish him many happy years of well-earned retirement."

JACKSONVILLE, Fla. — Stein Mart announced that it has partnered with its new ad agency, ArnoldNYC for the launch of "Love at First Find," a national campaign focusing heavily on digital and social engagement. The integrated effort – consisting of digital, social media, TV, print and radio – stars real Stein Mart customers with the goal of fostering an online community of fans via Facebook and Stein Mart's website, the company reported. The campaign is the first work from ArnoldNYC since being named Stein Mart's agency of record in June.

JACKSONVILLE, Fla. -- Stein Mart announced that net income for the fourth quarter was $18.8 million or 42 cents per diluted share compared with net income of $2.7 million or 6 cents per diluted share in 2009. Excluding the impact of a favorably tax benefit, fourth-quarter net income increased to $14.6 million or 32 cents per diluted share compared with $8.7 million or 19 cents per diluted share in 2009.

For the year, net income was $48.8 million or $1.08 per diluted share compared to net income of $23.6 million or 54 cents per diluted share in 2009. 

JACKSONVILLE, Fla . -- Stein Mart announced that its costume and sterling jewelry buyer, Lori Cassidy, was named to the 2011 Merchants Hall of Fame by the trade publication Accessories magazine.