Markets Wired

JACKSONVILLE, Fla., Oct. 01, 2019 (GLOBE NEWSWIRE) — Stein Mart (NASDAQ: SMRT) announced today it has enhanced its loyalty program to provide even more value for customers. Stein Mart has doubled the earn rate, which means cardholders now earn rewards twice as fast.

Under the new program, called “SMart Rewards”, Stein Mart credit cardholders now earn 2 points for every $1 spent at Stein Mart, and Elite cardholders ($500 annual spend) earn 4 points for every $1 spent. All cardholders receive a $10 reward, which has been rebranded as “Stein Mart SMart Cash”, for every 1000 points earned. Additional program benefits include a $10 Stein Mart SMart Cash gift upon enrollment, 10% off first purchase, extra savings events and birthday surprises.

“The standard of what it takes to win and keep customers in today’s competitive retail environment keeps getting higher. Whether it’s introducing new products and services or improving our loyalty experience, we are always looking for new ways to be more relevant to our customers and better serve them,” said MaryAnne Morin, President. “Earning more rewards, on top of our everyday low pricing, makes shopping at Stein Mart even more appealing for style-conscious, value-seeking customers.” 

Current Stein Mart cardholders are already receiving their new benefits, with rebranded cards arriving in the mail from mid-October to mid-November. Marketing for the new program, along with card reissuance, is expected to re-engage current cardholders and acquire new cardholders which will drive incremental trips and traffic to stores and online.

Today’s news is a prelude to Stein Mart’s continuing loyalty journey. The company also announced it will be piloting an enhanced multi-tender loyalty program early next year in approximately 100 stores. The primary focus of the pilot will be to enable all customers to earn Stein Mart SMart Cash on their purchases regardless of how they choose to pay.

Great fashion and more rewards are always in style at Stein Mart! To learn more about Stein Mart SMart Rewards or to apply for a Stein Mart credit card, please visit https://www.steinmart.com/smartrewards.

About Stein Mart:
Stein Mart, Inc. is a national specialty off-price omni retailer offering designer and name-brand fashion apparel for him, for her and now for Kids!, home décor, accessories and shoes at everyday discount prices. Stein Mart provides real value that customers love every day. The company operates 283 stores across 30 states. For more information, please visit www.SteinMart.com.

For more information: 
Linda Tasseff, Director of External Communications and Investor Relations
ltasseff@steinmart.com 904-858-2639