Stein Mart recorded a net loss of nine-point-three million dollars in the first part of 2017. The company is reducing inventories by 15 percent and laying off 10 percent of corporate office employees. As a result of these changes the total number of corporate staff is 293 members. In an effort to make changes to the company that will help reduce costs the company is reducing capital expenditures by $22 million compared to recent years. Stein Mart Chief Executive Officer Hunt Hawkins said “While we believe our sales- driving strategies are now taking hold, we are still in a very challenging retail environment. With this in mind, we are taking the necessary steps to better position our company for long- term success.”
The goal of the company
The goal of the company