SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
April 30, 2020
Date of Report (Date of earliest event reported)
STEIN MART, INC.
(Exact name of registrant as specified in its charter)
|Florida|| ||0-20052|| ||64-0466198|
|(State or other jurisdiction |
| ||(Commission |
| ||(IRS Employer |
1200 Riverplace Blvd., Jacksonville, Florida 32207
(Address of principal executive offices, including Zip Code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class|| ||Trading Symbol(s)|| ||Name of each exchange on which registered|
|Common Stock, $0.01 par value|| ||SMRT|| ||The NASDAQ Capital Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01 OTHER EVENTS
On April 30, 2020, Stein Mart, Inc. (“Stein Mart,” or the “Company”) issued a press release announcing enhanced safety measures as stores begin to reopen, in addition to launching its new Contactless Curbside Pickup service. The Company is now reopening many of its stores based on guidelines and regulations from public health officials and federal, state and local governmental authorities. Stein Mart anticipates one-third of the chain will be open by May 1, 2020, and further store reopenings to accelerate over the coming weeks.
The press release attached as Exhibit 99.1 is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|STEIN MART, INC.|
|Date:||April 30, 2020||By:||/s/ James B. Brown|
|James B. Brown|
|Executive Vice President and Chief Financial Officer|
Stein Mart Implements Enhanced Safety Measures as Stores Begin to Reopen
Launches Contactless Curbside Pickup
JACKSONVILLE, Fla. – Stein Mart, Inc. (NASDAQ: SMRT) today announced enhanced safety and cleaning measures to ensure the health and safety of its customers and associates as stores begin to reopen. The Company also announced it has launched Contactless Curbside Pickup service in select stores.
Stein Mart’s Reopening Plans
While stores were temporarily closed, Stein Mart has been proactively preparing to reopen its stores, implementing a number of precautionary measures to ensure a safe working and shopping environment, and launching its new Contactless Curbside Pickup service. The Company is now reopening many of its stores based on guidelines and regulations from public health officials and federal, state and local governmental authorities. Stein Mart anticipates one-third of the chain will be open by May 1 and openings to rapidly accelerate over the coming weeks.
“Our store teams have been anxiously looking forward to reopening their stores and serving their customers once again, either inside or curbside. Our customers are a big part of the Stein Mart family and they have been missed,” said Hunt Hawkins, Chief Executive Officer. “As we navigate through this ‘new normal’ with additional precautionary measures, we can all help each other - customers, associates and business partners - by continuing to follow these important guidelines.”
New Contactless Curbside Pickup
During this period, Stein Mart has successfully expanded its Buy Online, Pickup In-store service with the launch of its Curbside Pickup service, available now at select stores nationwide with more stores coming on line soon.
Stein Mart is the only off-price retailer offering this service. Curbside Pickup is one more way the Company is growing its omni-channel business, while delivering the convenience of shopping at Stein Mart in a new way to customers during this unprecedented time. Customers can also still order online at SteinMart.com and have their products shipped directly to their homes.
What You Can Expect In-Store: New Safety Measures
Stein Mart is taking numerous actions to ensure the health and safety of its customers and associates. Stein Mart stores are following recommended CDC social distancing and cleaning guidelines, including marking the floors at checkout and removing product from aisles, more frequent cleaning of restrooms, sanitizing checkout lanes and cleaning carts. Store associates are required to continue to practice healthy behaviors, such as wearing face masks, thorough hand washing and regular usage of hand sanitizer. As an added precaution, fitting rooms are temporarily closed but the Company has extended its return policy and enhanced how returns are processed.
During the phased reopening, store hours will be limited to 11 a.m. to 6 p.m. to give associates the time needed to provide a shopping experience Stein Mart customers can always count on.
For more information on store locations providing curbside pickup, stores that have reopened, and answers to other frequently asked questions, please visit www.SteinMart.com.
About Stein Mart
Stein Mart, Inc. is a national specialty omni 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 love every day. The company operates 281 stores across 30 states. For more information, please visit www.SteinMart.com.
For more information:
Linda L. Tasseff
Director of External Communications
and Investor Relations