Stein Mart
Encyclopedia
Stein Mart is a nationwide department store based in Jacksonville, Florida
. The company reported a profit of nearly $24 million in 2009 with operation of 264 stores in 30 states and the District of Columbia. Stein Mart has locations primarily in the Southeast and Texas. Stein Mart's stores carry recent trends in clothing for both men and women. Additionally, home décor, accessories, and shoes are all available at discounted prices.
. The department store carried general merchandise until Stein's son, Jake, took over the company upon his death in 1932. It was then that the store redirected its focus toward discounted clothing.
The chain targeted customers who shopped department stores on a regular basis, inducing them to purchase goods by offering discounts of 25 to 60 per cent off department store prices. By the late 1970s, Stein Mart was a leading retailer of clothing for the family in the Mississippi Delta
.
Under Jay Stein’s leadership, Stein Mart grew from three stores in 1977 to 40 stores in 1990, and then to 123 stores by the end of 1996. In determining the prime locations for new Stein Mart stores, management targeted cities with populations of 125,000 or more and relied on demographic research regarding income, education, and occupation to help predict whether a community might support a discounter of designer merchandise.
In 2002, Jay Stein stepped down but remained as chairman and also the largest Stein Mart share holder to this day. John H. Williams, Jr., served as vice chairman and chief executive officer of the company from September 2001 to February 2003 and still serves on the Stein Mart board.
Michael D. Fisher held the position of president and chief executive officer of the company from 2003 to August 2007. At that time, Fisher resigned and Linda McFarland Farthing was appointed as president and chief executive officer of Stein Mart. Farthing had been a longtime Stein Mart board member and held the president and CEO position for one year. Upon her resignation in 2008, Stein Mart's current president and CEO, David H. Stovall Jr., took the reins. At the time he was 61 years old and had been a Belk
, executive for over twenty years, most recently serving as Chairman of Belk Central Division in Charlotte, North Carolina
.
In recent leadership appointments, Brian R. Morrow was appointed executive vice president and chief merchandising officer of Stein Mart, Inc. in January 2010. Morrow has more than 25 years of merchandise leadership, most recently as senior vice president and general merchandising manager at Macy's
.
Stein Mart carries recent trends for women and men as well as home décor, accessories and shoes at a discounted price.
Stein Mart expanded their home department in Fall of 2010, and now carries houseware and décor for every room in the house. The Boutique portion of the store offers women special occasion clothing. Stores also offer personal service through their Boutique Team / Personal Shopper program. The Attitudes section of the store carries clothing for women who are shopping for modern trends. Attitudes carries brand names that a better department store would and focuses on the latest looks at discount prices.
For decades Stein Mart has leased its shoe department, currently working with DSW, Inc.
In addition, Stein Mart started working with Perfumania in 2010 to stock an assortment of fragrances. In October 2010, due to popular demand by Stein Mart shoppers, the retailer began offering limited online shopping. The online store offers an assortment of home furnishings.
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
. The company reported a profit of nearly $24 million in 2009 with operation of 264 stores in 30 states and the District of Columbia. Stein Mart has locations primarily in the Southeast and Texas. Stein Mart's stores carry recent trends in clothing for both men and women. Additionally, home décor, accessories, and shoes are all available at discounted prices.
History
Stein Mart was founded in 1908 by Sam Stein, a Russian immigrant who opened his first store in Greenville, MississippiGreenville, Mississippi
Greenville is a city in Washington County, Mississippi, United States. The population was 48,633 at the 2000 census, but according to the 2009 census bureau estimates, it has since declined to 42,764, making it the eighth-largest city in the state. It is the county seat of Washington...
. The department store carried general merchandise until Stein's son, Jake, took over the company upon his death in 1932. It was then that the store redirected its focus toward discounted clothing.
The chain targeted customers who shopped department stores on a regular basis, inducing them to purchase goods by offering discounts of 25 to 60 per cent off department store prices. By the late 1970s, Stein Mart was a leading retailer of clothing for the family in the Mississippi Delta
Mississippi Delta
The Mississippi Delta is the distinctive northwest section of the U.S. state of Mississippi that lies between the Mississippi and Yazoo Rivers. The region has been called "The Most Southern Place on Earth" because of its unique racial, cultural, and economic history...
.
Under Jay Stein’s leadership, Stein Mart grew from three stores in 1977 to 40 stores in 1990, and then to 123 stores by the end of 1996. In determining the prime locations for new Stein Mart stores, management targeted cities with populations of 125,000 or more and relied on demographic research regarding income, education, and occupation to help predict whether a community might support a discounter of designer merchandise.
In 2002, Jay Stein stepped down but remained as chairman and also the largest Stein Mart share holder to this day. John H. Williams, Jr., served as vice chairman and chief executive officer of the company from September 2001 to February 2003 and still serves on the Stein Mart board.
Michael D. Fisher held the position of president and chief executive officer of the company from 2003 to August 2007. At that time, Fisher resigned and Linda McFarland Farthing was appointed as president and chief executive officer of Stein Mart. Farthing had been a longtime Stein Mart board member and held the president and CEO position for one year. Upon her resignation in 2008, Stein Mart's current president and CEO, David H. Stovall Jr., took the reins. At the time he was 61 years old and had been a Belk
Belk
Belk is a department store chain founded in 1888 in Monroe, North Carolina, today part of the Charlotte metropolitan area. After the founding of the first Belk store, the company grew in size and influence throughout the South via the chain in the USA, with its stores primarily located in the...
, executive for over twenty years, most recently serving as Chairman of Belk Central Division in Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
.
In recent leadership appointments, Brian R. Morrow was appointed executive vice president and chief merchandising officer of Stein Mart, Inc. in January 2010. Morrow has more than 25 years of merchandise leadership, most recently as senior vice president and general merchandising manager at Macy's
Macy's
Macy's is a U.S. chain of mid-to-high range department stores. In addition to its flagship Herald Square location in New York City, the company operates over 800 stores in the United States...
.
Products
Stein Mart expanded their home department in Fall of 2010, and now carries houseware and décor for every room in the house. The Boutique portion of the store offers women special occasion clothing. Stores also offer personal service through their Boutique Team / Personal Shopper program. The Attitudes section of the store carries clothing for women who are shopping for modern trends. Attitudes carries brand names that a better department store would and focuses on the latest looks at discount prices.
For decades Stein Mart has leased its shoe department, currently working with DSW, Inc.
DSW, Inc.
-History:DSW opened its first store in July 1991 in Dublin, Ohio. In 1998, Value City Department Stores, Inc. purchased DSW. In December 2004, Retail Ventures, Inc. consolidated several brands. Until July 5, 2005, DSW operated as a wholly owned subsidiary of Retail Ventures, Inc...
In addition, Stein Mart started working with Perfumania in 2010 to stock an assortment of fragrances. In October 2010, due to popular demand by Stein Mart shoppers, the retailer began offering limited online shopping. The online store offers an assortment of home furnishings.
Advertising
In 2003, Stein Mart introduced the "Real Shopper" campaign with support from Orlando-based advertising agency, Fry Hammond Barr. This multimedia advertising campaign features real Stein Mart shoppers chosen via casting calls held throughout the country. As part of the casting call, Stein Mart looks for loyal female customers to share their stories about why they enjoy being a Stein Mart shopper. Each season six to eight female shoppers are chosen to appear in the campaign and are featured in Stein Mart's Sisterhood book online.External links
- Stein Mart Official Website
- Shop Stein Mart Online
- "Stein Mart." - Encyclopedia of Mississippi - University of MississippiUniversity of MississippiThe University of Mississippi, also known as Ole Miss, is a public, coeducational research university located in Oxford, Mississippi. Founded in 1844, the school is composed of the main campus in Oxford, four branch campuses located in Booneville, Grenada, Tupelo, and Southaven as well as the...