SteinMart Files for Bankruptcy.

[SamSpade]

Tyler, Texas' was in a strange shopping center from what I recall. Maybe years ago good trade, but didn't seem that way in 2016. But, by the main post office.

Salt Lake City's Foothill Village is going through a change and renovation, I think. The Stein Mart went in where the last ZCMI II existed. As noted, it probably would have nice floors, carpet, and proper lighting. Not like Ross or TJX stores at all. Big print (display) advertiser too, another strike on local press revenue.

[buckguy]

Looks like the chain is going fully kaput, with all stores closing. Here's the list:

https://archive.is/qduKD

Really odd territory, going as far west as California but with one store in Utah and New Mexico, stretching all the way to New York state and neglecting WV entirely, and a number of areas where there was only one in the entire metropolitan area.

You have to understand the customer they were catering to. An extremely conservative dressing 55-75 year old, looking for "boutique" type clothing, at a discount price. Their stores felt like a department store (carpet and hard tile floors, and varied lighting), not an off price like a Ross or TJ Maxx. There is just not demand for this kind of store in a lot of regions. I am actually surprised they had as many stores as they did in California but they carved out a little niche there in some spots. One store in UT and NM sounds about right. And left OR/WA alone probably due to Nordstrom.

They're historically a Southeastern chain, so it's not surprising that their stores are concentrated there and that most of their denser Northern markets are borderish places like St Louis and Cincinnati. They avoided Chicago and all of the NE corridor except Philadelphia which makes me think they didn't really have good strategies for entering large, established markets that tend to be costly for advertising and real estate. In the LA area, they're mostly in peripheral suburbs--some well-off, some mid-market, mostly away from the major retail centers. In places I know something about, they seem to be in less favorable locations within established, often relatively well-off submarkets, which makes me think that they've wound up in marginal shopping centers and haven't gotten the attention of strong landlords. They also may have simply lacked a real strategy for entering new markets and haven't had good real estate people or simply went for cheap rents.

I doubt that they target over-55s. Even though that group often has a lot of disposable income,--they don't buy a lot of new stuff. Something resembling fashion usually targets 18-49 year olds with more preference for the younger end. Home goods tend to target people who are setting up housekeeping or remodeling which also tends to be 18-49 year olds, although it seems common for people to relocate or remodel around the time they retire. Stein Mart's real problem seems to be that they have continually shifted their emphasis and lost focus. When I lived in their main market area they were the off-price counterpart to Upton's, which was something of a southern counterpart to Kohl's but with a lot of house brand merchandise. That seemed to work for them, for awhile. Then they became a sortof more fashionable, less overstock/closeout version of Marshall's and now they just seem to be a mess.

[Alpha8472]

SteinMart opened up a few stores in Northern California in 2016. The people in this area are so accustomed to Ross, Marshall's or Burlington. The selection could not compete with the other more established stores. There also was little advertising and many people had no idea what SteinMart was. Was it another Walmart? Was it clothing? Was it a discount food store? There were so few stores around that people did not know what this chain was about. I think that the word Mart really turns off people in California. The people who want expensive brand name clothes will never set food in a store that says Mart and the discount shoppers know that there is a better selection at Ross or Marshalls.

SteinMart really killed themselves. They should have tried to match the selection and price of Ross or Marshalls. Their stores also needed some attention as messy, disorganized stores did not make customers want to return. They could have been successful if they improved their selection and cleanliness.

[storewanderer]

I doubt that they target over-55s. Even though that group often has a lot of disposable income,--they don't buy a lot of new stuff. Something resembling fashion usually targets 18-49 year olds with more preference for the younger end.

What they targeted and what they got may be two different things... but they absolutely were not targeting 18-40 year olds... maybe 40-49 year olds...

[storewanderer]

SteinMart opened up a few stores in Northern California in 2016. The people in this area are so accustomed to Ross, Marshall's or Burlington. The selection could not compete with the other more established stores. There also was little advertising and many people had no idea what SteinMart was. Was it another Walmart? Was it clothing? Was it a discount food store? There were so few stores around that people did not know what this chain was about. I think that the word Mart really turns off people in California. The people who want expensive brand name clothes will never set food in a store that says Mart and the discount shoppers know that there is a better selection at Ross or Marshalls.

SteinMart really killed themselves. They should have tried to match the selection and price of Ross or Marshalls. Their stores also needed some attention as messy, disorganized stores did not make customers want to return. They could have been successful if they improved their selection and cleanliness.

They didn't advertise much (they had a loyalty card of some kind and sent coupons out from it). I don't think there was much of a cross between the customer at this store and Ross/Marshalls. The cross here was with mainline department stores like a Macy's or a Kohls. This was an upscale "off price" retailer and they ran coupons and discounts many weekends. This did not operate anything like a Ross or Marshalls. No kids clothing (well, they have some now for the liquidation sale but didn't have it before) so completely shut out families shopping. You rarely saw any kids in that store... very peaceful shopping environment.

Take a look at the photos on Google of these stores. They did not operate a store that looked anything like a Ross or Marshalls. Also their stores were absolutely not messy, disorganized, or dirty. The opposite actually; their stores were very clean and well arranged since they hardly had any traffic in the stores.

[arizonaguy]

I doubt that they target over-55s. Even though that group often has a lot of disposable income,--they don't buy a lot of new stuff. Something resembling fashion usually targets 18-49 year olds with more preference for the younger end.

What they targeted and what they got may be two different things... but they absolutely were not targeting 18-40 year olds... maybe 40-49 year olds...

Stein Mart was a store that my mother, mother-in-law, and aunt enjoyed shopping at (all are females 50 - 70).

I purchased a few pants and shoes there about 10 years ago but their men's department was nothing to write home about. I've been there a few more times but the stores always seemed to have only shoppers who are/were upper middle class women aged 50 - 70 who preferred conservative styled clothing. It is a niche that unfortunately is shrinking.

The closest traditional off price retailer to it would be "Bealls Outlet" which seems to attract the same customer base (maybe simply middle class as opposed to upper middle class women aged 50-70) (but operates stores that look like a traditional off price retailer).

[storewanderer]

Bealls Outlet is run by FL Bealls (not Stage) and HQ is near Tampa; Stein Mart HQ is/was near Jacksonville. These are both FL chains so it would make sense they target a similar demographic.

Stein Mart was always an odd chain compared to its competitors. They never made much fanfare about Christmas. They threw a few wreaths on the walls and called it good. No crazy hours, slight expansions over regular hours and not much more. They ran more ads/coupons during the holiday period and sent some management out of HQ to work in the stores but other than that didn't really do much.

Also Stein Mart's shoe departments are leased to DSW.

Jay Stein (75 years old) had some investment group that was going to help him fund a purchase of the chain earlier this year and that fell through due to COVID. It will be interesting to see if anything comes of that group again.

[cjd]

They didn't advertise much (they had a loyalty card of some kind and sent coupons out from it). I don't think there was much of a cross between the customer at this store and Ross/Marshalls. The cross here was with mainline department stores like a Macy's or a Kohls. This was an upscale "off price" retailer and they ran coupons and discounts many weekends. This did not operate anything like a Ross or Marshalls. No kids clothing (well, they have some now for the liquidation sale but didn't have it before) so completely shut out families shopping. You rarely saw any kids in that store... very peaceful shopping environment.

I think at one time Steinmart did sell kids clothing. I can remember one year my grandmother wanted to get me some clothes for back to school, and we went to one of them. This was probably way back in 1997 or so, but I seem to remember the store seemed rather old, I can vaguely remember those old chrome turnstyles at the front like an old Eckerd Drug had. Anyway apparently the prices were too high for my grandparents because they looked at the tag on one shirt and we left very quickly after.

Steinmart must have been concentrated around more Northern FL or something as there aren't any around here that I'm aware of. I can't remember where the one we went to was, since I was so young but I'd guess it was in Lakeland.

Bealls Outlet, I've noticed seems to be much more widespread than Steinmart. They always seem to have stores in just about any town that is big enough to have a shopping center. Though they do have stores in larger towns too, like mine, which also has a regular Bealls department store. Ironically the Bealls Outlet in my town is actually inside the original Bealls store that was built in the 1960s, before the Bealls moved into the mall in the early 90s, and the Outlet moved in probably almost immediately if not by 1994.

My other grandmother always loved Bealls Outlet because it was the only clothing store in her little town so she could drive there herself. Her town was big enough to have a Publix, but not a Walmart.

I've seen few commercials for Steinmart but even less for Bealls Outlet... Isn't there another chain called Burkes Outlet in other states that uses a similar logo to Bealls?

Bealls Outlet does seem to be popular with the older ladies but they do sell things for young men and kids too. They have a lot of the things people in small towns and coastal areas seem to like. They have one day of the week where 55+ can get a discount and then on Fridays everyone else can get a discount with their One Card.

[storewanderer]

Steinmart must have been concentrated around more Northern FL or something as there aren't any around here that I'm aware of. I can't remember where the one we went to was, since I was so young but I'd guess it was in Lakeland.

Bealls Outlet, I've noticed seems to be much more widespread than Steinmart. They always seem to have stores in just about any town that is big enough to have a shopping center. Though they do have stores in larger towns too, like mine, which also has a regular Bealls department store. Ironically the Bealls Outlet in my town is actually inside the original Bealls store that was built in the 1960s, before the Bealls moved into the mall in the early 90s, and the Outlet moved in probably almost immediately if not by 1994.

I think they had kids clothing in some locations and not others from the research I have done the past couple days.

Never saw any turnstyles at the one in Reno...

Bealls Outlet does business as Burkes Outlet in places where the Stage Stores-owned Bealls did business. Now that Stage is going bust I wonder if they can get all of their stores rebranded.

[klkla]

I always assumed they were a Women's Clothing store up until this thread started. I have never actually been inside one.