Stein Mart targets discount shoppers in N.Y., Mich.

Off-price retailer Stein Mart is accelerating the implementation of its store growth strategy just as thrifty shoppers increasingly flock to discounters.



The off-price retailer announced it will open nine stores this fall, and at least 12 new locations in 2016.



The news follows the company's recent release of first half 2015 total sales growth of 6.1% and same storesales growth of 4%.



"New store openings are key to our sales growth strategy,” said Jay Stein, CEO of Stein Mart, which operates 269 stores. “We are excited about our new fall locations which include our initial entry into suburban Detroit and Long Island. We have a great number of target customers in these markets and know they will be successful. We are also very pleased to announce our preliminary 2016 store expansion plans, which include opening at least 12 stores."



The retailer said its 2016 store expansion is already underway with six stores opening in the spring and plans for at least six more stores in the fall.



Stein Mart opened a new store in Cupertino, Calif., in March and will open another nine new stores this fall, giving it a total of 10 new stores in 2015.