Six months after accepting her role as CEO of Stein Mart, Dawn Robertson stepped down from the position, effective Sept. 27. Robertson also served as Chief Merchandising Officer during her brief tenure.
Robertson was appointed CEO of Stein Mart in March 2016, succeeding Jay Stein, the company’s founder and longtime CEO. He remains Chairman of the retailer’s Board of Directors.
D. Hunt Hawkins, Stein Mart’s President and COO, has been named interim CEO, and the company will initiate a search for a new chief merchandising officer.
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Hawkins started his career with Stein Mart as SVP of Human Resources and was promoted to EVP of Operations in 2006. He became COO in 2011 and added the President title in 2014.
“Some of the sales initiatives that have been developed under Dawn’s leadership are important for our future and we will continue to cultivate them to drive sales in this challenging retail environment,” said Stein in a statement. “Hunt has been a valued leader at Stein Mart for more than 20 years. The Board and I are confident in his ability to guide our associates and to continue implementing our strong sales strategies.”
Although there is no indication as to the reason for Robertson’s departure, Stein Mart announced that Q3 comparable store sales as of Sept. 27 have thus far declined approximately 4% compared to the same period last year. Hawkins indicated that part of the decline may have been due to new merchandising strategies that were implemented too rapidly.
When Q3 concludes on Oct. 29, the retailer will incur an approximate $1.6 million charge in connection with Robertson’s departure.
