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BRIEF-Stein Mart announces CEO change
September 29, 2016 / 11:56 AM / a year ago

BRIEF-Stein Mart announces CEO change

Sept 29 (Reuters) - Stein Mart Inc :

* Stein Mart announces CEO change

* Company will initiate a search for a new Chief Merchandising Officer

* Comparable store sales for Q3 have decreased approximately 4 percent through September 27

* Dawn Robertson has tendered her resignation as Chief Executive Officer and as a director

* D. Hunt hawkins, Stein Mart’s president and Chief Operating Officer, has been named interim CEO

* Sales results have “improved somewhat” in September after a challenging start and several missteps in August

* Q3 will include an approximate $1.6 million charge in connection with Robertson’s departure

* With sales lower than anticipated, Q3 gross profit rate could be approximately 150 basis points lower Source text for Eikon: Further company coverage:

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