Additional Information on Sale of Stein Mart Shares.Business Editors JACKSONVILLE, Fla.--(BUSINESS WIRE)--Oct. 17, 2001 John H. Williams Movie producer and CEO of Vanguard Animation studio. Producer Credits
Stein Mart, Inc. is based in Jacksonville, Florida, and describes itself as "a hybrid between a better department/specialty store and a traditional , Inc. (Nasdaq:SMRT SMRT Smart SMRT Singapore Mass Rapid Transit SMRT Silencing Mediator for Retinoid and Thyroid Hormone Receptors SMRT Section for Magnetic Resonance Technologists SMRT Sampling Modeling and Research Technology SMRT Single Message-Unit Rate Timing SMRT Signal Message Rate Timing ), has exercised his option to sell those shares of his Stein Mart common stock that were due to expire on 1/1/02. During September and October 2001, Williams exercised 210,000 non-qualified, expiring option shares that were remaining from the original 1.5 million option shares granted to him upon the Company's public offering in 1992. Williams has received additional option grants since the initial public offering. He currently has 980,000 option shares of Stein Mart common stock outstanding. About Stein Mart Stein Mart's 239 stores offer the merchandise, service and presentation of a traditional, better department/specialty store, at prices competitive with off-price retail chains. Currently with locations from California to New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Stein Mart's focused assortment of merchandise features moderate to designer brand-name apparel for women, men and children, as well as accessories, gifts, linens and shoes. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. STATEMENT Except for historical information contained herein, the statements in this release may be forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause Stein Mart's actual results in future periods to differ materially from forecasted or expected results. Those risks include, but are not limited to, on-going competition from other retailers, availability of new store sites at acceptable lease terms, ability to successfully implement strategies to exit or improve under-performing stores, changing preferences in apparel, changes in consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. due to current events and/or general economic conditions, adequate sources of merchandise at acceptable prices and the other risks and uncertainties described in the Company's filing with the Securities and Exchange Commission. Additional information about Stein Mart, Inc. can be found at http://www.steinmart.com. |
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