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Sep 5, 2017 - 

Stein Mart Announces Enhanced Credit Card Rewards Program

JACKSONVILLE, Fla., Sept. 05, 2017 (GLOBE NEWSWIRE) -- Stein Mart, Inc. (NASDAQ:SMRT) today announced that it is launching a new and expanded credit card rewards program.

For more than a decade, Stein Mart has partnered with Synchrony Financial to offer a credit card program to qualifying cardholders through its Stein Mart Style Platinum Mastercard and Stein Mart Style Credit Card. This program is now enhanced with more benefits and a new Elite card.

"Our customers that have a Stein Mart credit card shop and spend substantially more than those who do not. We believe our enhanced program will encourage more of our customers to get a Stein Mart credit card and all of our cardholders to use their card more often," said Hunt Hawkins, Chief Executive Officer. "We have tested various reward and loyalty offerings over the last few years and are confident that this expanded program will increase customer engagement and sales, especially from our most loyal customers."

Under the new program, all Stein Mart cardholders will now earn points for dollars spent and a new Elite credit card will provide higher rewards to Stein Mart's very best customers. The specific features of the program include:

  • New Stein Mart Elite Credit Card — Cardholders who spend $500 in a calendar year at Stein Mart will be upgraded to the Elite card. Elite cardholders will earn two points for every dollar spent at Stein Mart with their Stein Mart credit card and receive free shipping on steinmart.com.
  • Stein Mart Style Platinum Mastercard — These cardholders will continue to earn one point for every dollar spent wherever Mastercard is accepted.
  • Stein Mart Style Credit Card — Like the Stein Mart Style Platinum Mastercard, these cardholders now earn one point for every dollar spent at Stein Mart with their Stein Mart credit card.
  • All Stein Mart cardholders — All cardholders receive an extra 10% off their first in-store purchase when an account is opened, a $10 reward certificate for every 1,000 points earned and an extra 10% off throughout the year during Extra Savings Events.

Additionally, all cardholders will continue to receive advance email notification of sales events, savings during their birthday month and all the benefits of the Stein Mart Preferred Customer Program.

Stein Mart Platinum Mastercard
The Stein Mart Platinum Mastercard is issued by Synchrony Bank pursuant to a license by Mastercard International Incorporated.  Mastercard is a registered trademark of Mastercard International Incorporated.

About Stein Mart
Stein Mart, Inc. is a national specialty and off-price retailer offering designer and name-brand fashion apparel, home décor, accessories and shoes at everyday discount prices. Stein Mart provides real value that customers will love every day both in stores and online. The Company currently operates 292 stores across 31 states. For more information, please visit www.steinmart.com.

For more information:
Linda L. Tasseff
Director, Investor Relations
(904) 858-2639