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Stein Mart to open 10 stores
Jacksonville, Fla. – Stein Mart Inc. reported drops in net income and sales during the fourth quarter of fiscal 2013, which it mainly attributed to the year-ago period having one extra week. The retailer remains optimistic as it plans to open 10 new stores and six relocated stores in fiscal 2014.
Fourth quarter net income dropped 42% to $7.4 million from $13.1 million compared to the same period in the prior year, while total sale declined 2% to $360.8 million from $368.6 million. In one bright note, same-store sales grew 3.1%.
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Disney-inspired Starbucks opens at Downtown Disney
Seattle -- Starbucks has opened up its first company-operated store on a Disney property, at Downtown Disney in Anaheim, Calif. The 5,600-sq.-ft. store is the first of several company-operated locations that are scheduled open across Disney properties in the United States.
