Today, Stein Mart, Inc. announced that it had removed the word interim from in front of its chairman’s other title. So, effective yesterday, Jay Stein became the retailer’s CEO in full flight.
“It has been my pleasure to return and lead Stein Mart after nearly two years as interim CEO,” Stein said. “Working side-by-side with our wonderful leadership team, we are now enjoying great results. This is an important time in our company’s history, and I am very happy to be part of this great organization.”
Stein has been chairman of Stein Mart’s board of directors since 1989 and will continue to serve in that role, according to the company. He previously served as Stein Mart’s CEO from 1990 to September 2001.
Stein Mart, Inc. reported a net income increase to $25 million, or 57 cents per diluted share, for 2012 from $19.9 million, or 44 cents per diluted share, in the previous year.