Stein Mart Opening 10 Stores in 2014

by Harry Sheff

Stein Mart Off-price retailer Stein Mart says it will open 10 new stores this year, including two in former Loehmann’s doors. CEO Jay Stein calls it “Our largest store opening plan in years.”

New stores in Miami and Washington, D.C. will be in locations vacated by the bankrupt off-price retailer Loehmann’s, which announced that it would close its 39 stores and liquidate in December. Both the new Miami Stein Mart store at 19915 Biscayne Blvd, Aventura and the Washington, D.C.-area store at 7271 Arlington Blvd in Falls Church, Va. are scheduled to open on May 15.

A Las Vegas store will open at 2060 North Rainbow Blvd. in March. The other seven planned stores for this year will be announced later, the company said.

Two Stein Mart doors have closed this year (Fernandina Beach, Fla. and Brentwood, Tenn.). No other closures are planned. Six stores will relocate.

Stein Mart reported a return to third-quarter profit in November.