Stein Mart Inc. (Jacksonville, Fla.) has confirmed that Footstar Inc. (West Nyack, N.Y.) will no longer be the leased shoe operator in 161 Stein Mart stores. The separation was by mutual conclusion.
The shoe departments in Stein Mart's remaining 102 stores will continue to be served by Nine West Group Inc. (White Plains, N.Y.). Plans for the shoe areas previously operated by Footstar will be announced.
“[We've] agreed that it is not in either company's best interest to continue our operating agreement after its current term ends in February [2003],” said Stein Mart ceo Jack Williams. “We have been reviewing options for enhanced productivity and selection in that part of our footwear business for some time, and anticipate an announcement regarding plans for those stores shortly.”