Stein Mart Names New President, CEO

Stein Mart Names New President, CEO
December 03, 2008

Jacksonville, Fla.-based Stein Mart Inc. has named former Belk executive David H. Stovall Jr. as its new president and CEO. The appointment comes after Stein Mart widened its third-quarter loss in what it described as the most challenging in the company's history. The retailer saw its net loss grow to $14.1 million, as sales at its 279 stores fell 10.4 percent, to $298.8 million. Stovall, who was most recently chairman of Belk Central Division in Charlotte, N.C., succeeds Linda Farthing, a longtime Stein Mart board member who has held the president and CEO position since September 2007.

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