Due to the ever changing retail environment and the impact of Covid-19, Stein Mart is planning to close the majority, if not all of its physical stores.
Despite trying to improve its top line in recent years by adding Amazon Lockers to stores and introducing buy online, pick up in-store services, Stein Mart has struggled since 2016 with revenue falling every year thereafter.
The search for a possible buyer has so far shown no luck however the retailer seems to have left open the possibility of saving some of its physical business if an acquisition did become available.
