Stein Mart

Stein Mart was founded in 1908 by Sam Stein as a single family-run department store in Greenville, Mississippi. Over the following century, it evolved into a national off-price retailer known for offering current-season, brand-name apparel, accessories, and home décor at discount prices. The company went public in the 1990s, a pivotal moment that accelerated its expansion and solidified its position as a key anchor tenant in suburban shopping centers across the country. By October 2020, Stein Mart operated 281 stores across 30 states, with its strongest presence in the Sun Belt and Southeast regions.

The company's merchandising approach centered on delivering a department store experience within a smaller footprint, appealing to value-conscious shoppers who wanted quality brands without premium pricing. This strategy made Stein Mart a reliable draw for shopping center owners and developers, particularly in secondary and tertiary markets where off-price retail performed well.

The retail landscape shifted dramatically during the late 2010s as e-commerce accelerated and consumer shopping habits changed. These structural headwinds, combined with the sudden disruption of the COVID-19 pandemic, proved insurmountable. Stein Mart filed for Chapter 11 bankruptcy in August 2020 and closed all physical locations by October 2020. The company's brand and e-commerce assets were acquired by Retail Ecommerce Ventures, which relaunched Stein Mart as an online-only retailer in late 2020.

Today, Stein Mart operates exclusively through its website, offering curated apparel and home goods to a national audience. The company maintains no physical stores, no traditional corporate headquarters, and a significantly reduced workforce. For real estate professionals, Stein Mart's exit from brick-and-mortar retail represents a broader industry transition and has created a wave of available space in suburban strip centers and enclosed malls, particularly across the Southeast and Sun Belt, where the brand once anchored numerous properties.