Stein Mart Announces Six New Store Openings This Fall

JACKSONVILLE, Fla., Sept. 10, 2014 (GLOBE NEWSWIRE) -- Stein Mart (Nasdaq:SMRT) announces the six new stores opening this fall as part of its 2014 store expansion plan that includes nine new locations, strategically selected in key growth markets, and seven relocations. The openings will bring the company's total nationwide store count to more than 270.

This year's expansion – the largest since 2007 – occurs during a two-year period of same store sales growth for Stein Mart. Through August 2014, the company has achieved a 2.0 percent increase in year-to-date same store sales. That was on top of a 3.7 percent increase in fiscal 2013.

"We are extremely pleased with the stores we opened during the first half of the year and are very excited about our new locations opening this fall," said Jay Stein, CEO of Stein Mart. "Our 2014 store expansion is the perfect way to introduce even more Stein Mart customers to our great offering of designer and name brand merchandise, at affordable prices, in an attractive, easy-to-shop setting."

The six new stores opening this fall are located in:

  • Albuquerque, NM: Sierra Vista Shopping Center – October 23
  • Carlsbad, CA: La Costa Town Square – November 6
  • Citrus Heights, CA: Marketplace at Birdcage – October 2
  • Clovis CA: Clovis Crossing shopping center – September 26
  • Delray Beach, FL: Delray Place shopping center – December 4
  • Gainesville, VA: Virginia Gateway shopping center – October 2

In addition to opening the six new stores, Stein Mart will relocate four existing stores to new locations this fall in:

  • Franklin, TN: Thoroughbred Village Shopping Center – October 23
  • Las Vegas, NV: Sahara Center – September 26
  • Mobile, AL: Pinebook Shopping Center – September 26
  • Rocklin, CA: Rocklin Commons Shopping Center – October 2

About Stein Mart, Inc.

Stein Mart is a national retailer with more than 260 locations and steinmart.com offering a distinctive assortment of current-season, brand name fashion apparel for women and men, accessories, home décor, linens and shoes – all at prices up to 60 percent off brand name and specialty merchandise every day. For more information about Stein Mart or to find your nearest location, please visit www.steinmart.com.

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

Source:Stein Mart, Inc.