Commercial retail company: Stein Mart, Inc. (SMRT) (1902)

Stein Mart, Inc. (NASDAQ: SMRT) was founded in 1902 and is headquartered in Jacksonville, Florida, with 5,600 full-time employees. It is a commercial retail company that provides fashion goods and related services in the United States.

Stein Mart

Stein Mart, Inc. (SMRT):

Stein Mart, Inc. provides men’s and women’s fashion apparel and accessories, footwear, and home accessories. The typical design of the store includes aisle design, dressing room, counter checkout and other about 35,000 square feet of space, providing a series of services, such as merchandise returns, merchandise display services, customer promotions, co-branded credit cards, discount credit cards, and electronic gift cards.

As of February 16, 2017, Steinmart opened 290 retail stores in 31 states in the United States.

Stein Mart, Inc. (SMRT) History:

  • In 1902, the Russian immigrant (jeweler) Sam Stein founded the Stammat company;
  • In 1932, Sam died and his son Jake Stein took over the company;
  • Under the leadership of Jay Stein, Stein Mart has grown from 3 stores in 1977 to 40 stores in 1990 and 123 stores in 1996;
  • In 2002, Jay Stein stepped down and continued to serve as the chairman of the board of directors. To this day, he is still the largest shareholder of Stein Mart;
  • From 2003 to August 2007, Michael D. Fisher served as the company’s president and chief executive officer, and was succeeded by Linda McFarland Farthing;
  • From 2008 to 2011, Mr. David H. Stovall Jr. served as CEO;
  • In September 2011, David H. Stovall Jr. announced his retirement and Jay Stein took over as interim CEO;
  • On April 25, 2014, Stein Mart announced that the board of directors established the President’s Office and appointed D. Hunt Hawkins and Brian R. Morrow as Presidents, both of whom will report to CEO Jay Stein;
  • On March 15, 2016, Stein Mart appointed Dawn Robertson as CEO, replacing Jay Stein;
  • On January 26, 2017, Stein Mart announced the appointment of MaryAnne Morin as President and D. Hunt Hawkins as CEO.
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