Posted: Monday, May. 18, 2009
By Jen Aronoff
jaronoff@charlotteobserver.com
The Stein Mart at Charlotte's Cotswold Village Shops will be closing its doors this summer, after 20 years in business.
The upscale, off-price clothing and accessories chain opened at the plaza at Sharon Amity and Randolph roads in 1989, spokeswoman Susan Datz Edelman said.
Like a range of other retailers, Jacksonville, Fla.-based Stein Mart has been hit hard by the recession. It reported a net loss of $71.3 million in 2008 and expects to close 10 to 13 stores this year. No other locations in Charlotte market are slated to close, Edelman said.
The closures are due to a combination of the economic environment, general underperformance and expiring leases, Edelman said.
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