Stein Mart Posts Major 4th Quarter Profit
Stein Mart is a retail chain, headquartered in Jacksonville, Florida. The company recently posted a net income of almost $19 million for the fourth quarter, which ended on January 29, 2011. This is a significant jump in revenue given the company's fourth quarter net for last year totaled less than $3 million.
In 2009, the company began closing underpeforming stores, while in 2010 the retailer focused on opening stores in existing markets. Stein Mart's CEO, David Stovall, stated that they will focus on attracting new customers in 2011.
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