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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.
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ICSC calls for 3% gain in holiday sales, down from 4.1% in 2010
New York City -- The International Council of Shopping Centers said it expects holiday sales to increase 3% this year, which is below the 4.1% gain in 2010.
Holiday sales are expected to reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion, according to the group, whose forecast is among the first to come out for the holiday 2011 shopping season.
The ICSC predicted that holiday same-store sales will rise 3.5%, slightly lower than the 3.8% pace in 2010.