Stein Mart announces new collection of stores
August 28, 2002,
Jacksonville, FL — After weathering a tough economic period this past second quarter, Stein Mart is experimenting with a more compact and high-end version of its typical 36,000-square-foot store concept that will occupy less than half that space yet is expected to generate higher sales.
"[The new concept store] is a smaller footprint, but we do expect its sales productivity per square foot to be considerably higher than the existing Stein Mart stores," Michael Fisher, president and coo, said during the company's conference call yesterday to discuss its second-quarter earnings.
The new concept stores average about 15,000 square feet in size and will be stocked with only boutique-like goods — namely jewelry, fashion assortments, accessories, some women's sportswear and gifts.
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