RetailTenant
Stein Mart (Stein Mart, Inc.)

Actively expanding in Alabama, Arkansas, California, Connecticut, Florida, Georgia, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia

About the Company

Stein Mart is an American discount men and women's department store chain based in Jacksonville, Florida. The company reported a profit of $25.6 million in 2013 with operation of 260 stores in 29 states. Stein Mart has locations primarily in the Southeast, Texas and California.

Last updated: October 31, 2019

Current Locations
300
Publicly Traded
HQ Address
1200 Riverplace Boulevard, Jacksonville , MD 32207
Website

Expansion Plans

FL (Miami & Broward). All areas in the far northeast|but currently focused on: Connecticut|Massachusetts|New Jersey|New York. Prototype stores are currently 30,000 square feet (158 as the minimum frontage). Parking requirement: 4 to 1. Stores average 36,000 square feet (180 X 200 is prototype with 166 as the minimum frontage). Stores from 29,000 to 34,000 square feet can be considered in special situations. ""We continue to monitor underperforming stores and will close stores when terms for doing so are advantageous. At this point, we expect to close 10-13 stores in 2009."" (steinmart.com - 4Q and Fiscal Year 2008 Financial Results released March 19, 2009).

Desired size
28,000 to 40,000 sq ft
12 Month Expansion Plans
1
24 Month Expansion Plans
2
Preferred Property Types
Lifestyle Center, Regional Mall, Specialty Strip
Expanding in
Alabama, Arkansas, California, Connecticut, Florida, Georgia, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia
Demographic Range
5 miles
Min Population
150,000
Min Income
$75,000
Demographic Notes
Target customer is a 35-60 year old woman, sometimes called a ""missy customer"", who is both fashion-conscious and value-seeking. Will most likely have a higher than average household income, at least some college education, and if employed, typically has a professional or paraprofessional occupation. Seeking to add an additional subset to the target customer demographic by including select youthful apparel and accessories to attract a more updated customer. Stein Mart's customers have very high taste levels. Therefore, we target upscale shopping centers and very affluent residential markets. In fact, we like the highest average household incomes/demographics we can find in any appropriately sized MSA, preferably with 150,000 people or more, high ($1.0 billion plus) retail sales and carriage trading residential areas near the site.
Preferred Cotenants
Higher-end grocers, great bookstores, Target, Old Navy, Blockbuster, sporting good stores, drug stores, and nicer restaurants make great co-tenants.

 

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