History of Stein Mart in Timeline

Stein Mart was an American discount department store chain headquartered in Jacksonville, Florida. The company specialized in offering trendy apparel for men and women at reduced prices. Their stores, mainly located in the Southeast, Texas, and California, also featured discounted home decor, accessories, and shoes. While Stein Mart previously operated physical stores, it now functions exclusively as an online retailer.

1908: Stein Mart is Founded

Sam Stein, a Russian Jewish immigrant, founded Stein Mart in 1908, opening the first store in Greenville, Mississippi.

1932: Jake Stein Takes Over Stein Mart

Following Sam Stein's death in 1932, his son, Jake Stein, took over the company and shifted its focus to discounted clothing.

1977: Stein Mart Begins Expansion Under Jay Stein

In 1977, under the leadership of Jay Stein, Stein Mart began expanding, growing from three stores to 40 stores by 1990.

1990: Stein Mart Reaches 40 Stores

By 1990, Stein Mart had expanded to 40 stores under Jay Stein's leadership.

1996: Stein Mart Expands to 123 Stores

Stein Mart continued its expansion, reaching 123 stores by the end of 1996.

2003: Stein Mart Launches "Real Shopper" Campaign

In 2003, Stein Mart launched its "Real Shopper" advertising campaign, featuring real Stein Mart shoppers.

October 2010: Stein Mart Launches Limited Online Shopping

Due to customer demand, Stein Mart launched a limited online shopping option in October 2010, utilizing a "Ship from Store" model for faster delivery.

2010: Stein Mart Partners with Perfumania

In 2010, Stein Mart began a partnership with Perfumania to offer a selection of fragrances in their stores.

2010: Stein Mart Expands Home Department and Introduces New Sections

In 2010, Stein Mart expanded its home department to include housewares and décor. They also introduced the "Boutique" section for special occasion wear and the "Attitudes" section for women's clothing.

2013: Stein Mart Reports Profit, Operates 260 Stores

In 2013, Stein Mart reported a profit of $25.6 million with 260 stores across 29 states.

October 2017: Stein Mart Announces Plans to Improve Financials

In October 2017, in response to declining stock prices, Stein Mart announced plans to cut corporate staff, reduce inventory, slash capital expenses, and suspend stock dividends.

January 2018: Stein Mart Explores Strategic Alternatives

In January 2018, Stein Mart announced it was exploring strategic alternatives for the company.

February 2020: Stein Mart Enters Deal to Go Private

In February 2020, Stein Mart entered into an agreement to take the company private, subject to shareholder approval.

August 2020: Stein Mart Files for Bankruptcy, Announces Closure of All Stores

In August 2020, Stein Mart announced that it had filed for Chapter 11 bankruptcy due to the COVID-19 pandemic and would be closing all of its 279 stores. The company has since transitioned to an online-only retailer.

August 2020: Stein Mart Files for Chapter 11 Bankruptcy, Announces Store Closures

In August 2020, heavily impacted by the COVID-19 pandemic, Stein Mart filed for Chapter 11 bankruptcy protection and announced the closure of all 279 stores.

October 2020: Stein Mart to Close All Stores

Stein Mart announced that all remaining stores would permanently close by the end of October 2020.

2020: Retail Ecommerce Ventures Acquires Stein Mart Operations

In the fall of 2020, private equity firm Retail Ecommerce Ventures reached an agreement to acquire Stein Mart's operations.

March 2, 2023: Retail Ecommerce Ventures Reconsiders Bankruptcy Filing

On March 2, 2023, Retail Ecommerce Ventures, the parent company of Stein Mart, announced it was reconsidering a potential bankruptcy filing.

March 2023: Retail Ecommerce Ventures Explores Options to Avoid Bankruptcy

In March 2023, Retail Ecommerce Ventures announced that they were exploring options, including a potential Chapter 11 bankruptcy filing, to prevent financial collapse.