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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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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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