Russian immigrant Sam Stein founded Stein Mart in the early 1900s. [1]

Stein Mart (NASDAQ: SMRT)is an American chain of department stores based in Jacksonville, Florida. [2]

Stein Mart, Inc. is a publicly-traded (NASDAQ NMS: SMRT) company, best described as a hybrid between a better department/specialty store and a traditional off-price retailer. [3]

Stein Mart’s style is to operate department-style stores that feature discount prices. [...] While traditional department stores serve as anchors in shopping malls and offer moderate to upscale merchandise at full price, discount clothiers generally offer brand-name merchandise in an informal atmosphere. [1]

The best of current season, brand-name fashion merchandise is offered at prices substantially below those originally charged by department and specialty stores. [3]

Founded in 1902 in Greenville, Mississippi, as a general merchandise department store, it later developed into a discount store which purchased cancellations and overproductions from clothing mills. [1]

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The best of current season, brand-name fashion merchandise is offered at prices 25-60 percent below those charged by department and specialty stores. [1]

Stein Mart was founded by Sam Stein, a Russian immigrant who opened his first store in Greenville, Mississippi, in 1902. [2]

At that time, Jay Stein noticed the women, “boutique ladies” as they came to be known, were able to provide an extraordinary level of service; they were knowledgeable on these more expensive brands given their own purchasing power and sophisticated taste. [1]

Stein Mart has locations in most of the Southern, Midwestern, Mid-Atlantic, and Southwestern United States. [...] Stein Mart helped to define “off-pricers” as a new category in retail. [...] The chain targeted customers who shopped department stores on a regular basis, inducing them to purchase Stein Mart goods by offering discounts of 25 to 60 percent off department store prices. [...] Under Jay Stein, Stein Mart grew from three stores in 1977 to 40 stores in 1990, and then to 123 stores by the end of 1996. [2]

Sources:
[1] Stein Mart: Information from Answers.com
[2] Stein Mart – Wikipedia, the free encyclopedia
[3] Stein Mart, Inc. – Investor Relations
[4] For Home – Stein Mart