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A rough third quarter for Stein Mart
Stein Mart reported negative same-store sales growth on the same day that the company also lost its chief merchant to an off-price rival.
For the third quarter ended Oct. 31, Stein Mart comps fell 2.3%.
"Unseasonably warm weather impacted traffic and our sales during the third quarter," said Jay Stein, CEO. "We continue to have a positive outlook on our important fourth quarter holiday sales which will include incremental sales from six new stores opened through the third quarter plus four more new stores opening in November."
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Ross Stores hires chief merchant from Stein Mart
Ross Stores Inc. has hired away the chief merchant at Stein Mart to lead merchandising at DD's Discounts.
Ross Stores announced that Brian Morrow will join the company as president and CMO at DD's effective Dec. 7. Morrow will report directly to Barbara Rentler, the company's CEO, and be responsible for directing all aspects of merchandising at DD's Discounts.

