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Stein Mart Home Furniture & Accessories Update
June 9, 2008
Here’s an update to a
March 21st story I wrote about Stein Mart.
Home Textiles Today reported that Stein mart is on track to reduce the home furniture and accessories floor space.
“…gift-able goods – including as of late stronger sellers like electronics, boxed jewelry and bath sets – proved “an important category this spring,” said Bill Moll, evp, chief merchandising officer.
“In response to this trend coupled with the overall decline in linens and home décor items, Stein Mart is amplifying its offerings of “more gift-able” goods like crystal, home entertainment items and lamps in the place of furniture and decorative pieces.
“Additionally, Stein Mart’s refocused approach to its waning linens business is to take “an aggressive price point stance on bedding, towels, sheets and top-of-bed. In general, we see the customer responding to sharply priced novelty items that make her feel better.
‘Stein Mart’s customers, ceo and president Linda McFarland Farthing said, were prompted to shop “only when there were significant discounting involved. Otherwise their response has been lackluster, at best.”
Bottom line: Stein Mart is finding life in gift-ables, furniture is not selling and customers are responding only to price.
Thoughts??? Email me at
landfair3554@comcast.net
Posted by Mike Landfair on June 9, 2008 | Comments (3)
