Key Developments For Stein Mart, Inc.
Stein Mart, Inc. (SMRT.O) (Nasdaq)
Stein Mart, Inc. Announces Appointment Of Chief Financial Officer
Stein Mart, Inc. announced the appointment of Gregory W. Kleffner as the Company's new Chief Financial Officer. Kleffner succeeds James G. Delfs, whose pending retirement was announced earlier this year. Mr. Kleffner will begin his duties as senior vice president, finance and Chief Financial Officer on Monday, August 10, 2009.
Stein Mart, Inc. Appoints Independent Public Accountants; Announces Retirement Of James G. Delfs As CFO
Stein Mart, Inc. announced that it has ratified the appointment of PricewaterhouseCoopers LLP as the independent registered certified public accountants for the fiscal year ending January 30, 2010. The Company also announced that Senior Vice President, Finance and Chief Financial Officer (CFO) James G. Delfs would be retiring but will remain with the Company to assist in the search for and the transition to his successor.
Stein Mart, Inc. To Cut Jobs-Reuters
Reuters reported that Stein Mart, Inc. will reduce the number of assistant managers in most of its stores from two to one, resulting in the elimination of 178 positions, and cut 31 field and corporate positions.
Stein Mart, Inc. Appoints David H. Stovall, Jr. As President And CEO
Stein Mart, Inc. announced that it has appointed David H. Stovall, Jr. as President and Chief Executive Officer (CEO) of the Company. He will assume his new responsibilities on December 5, 2008. Stovall succeeds Linda M. Farthing, longtime Stein Mart Board member who has held the President and CEO position since September 2007, but announced earlier this fall that a search for her successor had begun.
Stein Mart, Inc. Announces Store Network Update
Stein Mart, Inc. announced that one new store was opened, one was relocated and six stores closed in the third quarter, resulting in 279 stores in operation at November 1, 2008 as compared to 276 at the same time last year. Year-to-date, six stores have opened, one has been relocated and seven have closed. Three more closings are expected to occur, which will bring to ten the number of stores closed this year, and the total number of stores in operation to 276 at the end of fiscal 2008.
