Stein Mart Inc. (Jacksonville, Fla.) said it has budgeted $12 million to open 10 stores in 2014.
Jay Stein, the discount retailer’s ceo, called its “most aggressive store opening plan in more than 10 years.”
Last month, the 264-unit chain announced the acquisition of two stores from the bankrupt Loehmann’s chain. Those two units, in Washington, D.C., and Miami, will be two of the three planned openings in the spring. The other seven will occur in the fall.
“Having a store in the Miami area has been a dream of ours for years,” said Stein.