Stein Mart Announces 11 New Stores to Open This Year
27 February 2015 - 12:28AM
Stein Mart (Nasdaq:SMRT) announces the opening of eleven new stores
this year as part of the company's accelerated store growth that
began in 2014. This news follows the company's recent release of
its fiscal 2014 total sales growth of 4.3 percent and fourth
quarter 2014 total sales growth of 7.3 percent.
The new stores include the company's March opening of the first
ever San Francisco Bay area location in Cupertino and ten
additional stores opening in the fall. This is an increase from the
company's earlier estimate of ten new stores for 2015 announced
last November. In 2014, Stein Mart opened nine new stores.
"We are very pleased with the new store sites that we have
secured for 2015, which are strategically located in both exciting
new markets and some of our strongest existing markets," said Jay
Stein, CEO of Stein Mart. "Increasing our number of stores,
particularly in targeted growth areas, is key to our sales growth
strategy."
The Cupertino store, located at the intersection of Homestead
Blvd. and N. De Anza Blvd., will open on March 12. The locations of
the ten new stores planned to open in September through November
include: Atlanta, suburban Detroit, Florida (2 stores), Southern
California (3 stores), Long Island, Phoenix and Virginia
Beach. Stein Mart will also relocate one store in Myrtle
Beach, SC to a new location this fall.
About Stein Mart, Inc.
Stein Mart stores offer the fashion merchandise, service and
presentation of a better department or specialty store, at prices
competitive with off-price retail chains. With locations from
California to Massachusetts, as well as steinmart.com, Stein Mart's
focused assortment of merchandise features current season, moderate
to better fashion apparel for women and men, as well as
accessories, shoes and home fashions. In 2014, Stein Mart was
voted America's "Best Department Store" by readers of USA
TODAY.
CONTACT: IR Contact:
Linda Tasseff, Director of Investor Relations
Phone: 904-858-2639 - Email: ltasseff@steinmart.com
Media Contact:
John Eddy, Goldin Solutions
Phone: 646-660-8648 - Email: john@goldinsolutions.com
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