Stein Mart Plans Expansion

Fueled by robust store sales growth
Posted June 26, 2014

After eight consecutive quarters of comparable-store sales growth, Stein Mart (Jacksonville, Fla.) has told shareholders that the company plans to continue growing, according to the Jacksonville Daily Record.

Stein Mart, which operated 264 stores in 29 states at the end of fiscal 2013, plans to open 10 new stores this year, while it relocates six existing stores and closes two. The plan will constitute the company’s largest store growth since 2007.

President and coo D. Hunt Hawkins said Stein Mart has identified 125 possible locations for new stores, mainly in existing markets, although the company is also looking at new markets, including California.