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Esprit wears out North American welcome
HONG KONG — On the heels of a 98% drop in its yearly earnings, Esprit Holdings said it is divesting its North American businesses and exiting three major European markets.
The company said it is actively looking for a partner willing to acquire its North American operations, which include 93 stores in the United States.
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Stein Mart appoints interim CEO
Jacksonville, Fla. -- Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David H. Stovall, Jr., who has held that position since 2008.
The company also announced the formation of a search committee of the board of directors led by Robert Mettler who serves as chair of the strategic planning committee of the board.