(Filed Under Fashion News). Stein Mart Inc. has started a nationwide search for a new CEO after Linda Farthing said she would resign after just over a year in her current post.
Farthing, who became president and CEO of the off-price retailer in September 2007, will stay on the board of directors once her successor has been found. She joined the board in 1999.
"Linda took on the CEO role at a very difficult time and has worked tirelessly to move our company forward," said Jay Stein, chairman of the board of Stein Mart.
Stein Mart, based in Jacksonville, Fla., has enlisted Korn/Ferry International for help in finding candidates for the job.
This month, Stein Mart reported year-to-date sales were down 6.9 percent, and comparable store sales were down 10.3 percent. The retailer operates 280 stores.
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