Stein Mart, an upscale clothing and accessory store, is closing its Albany store at the end of October, corporate sources say. The store opened its doors ten years ago and never quite reached company profit standards.
ALBANY, Ga. — For those who gave it love and support, it’s time to get on down to Albany Square for Stein Mart’s big liquidation sale. The local Stein Mart is closing after a ten-year run.
While the clothing and accessory chain is doing fine nationally, the Albany store has never quite measured up, corporate sources said.
“Greg Kleffner, chief financial officer of Stein Mart, said he was surprised the Stein Mart was established in Albany to begin with, considering the general population guideline of around 500,000 people.
“The Albany population was perhaps a little narrow, considering the upscale nature of our product line,” Kleffner said. “We generally open with a ten-year lease, and because this store just never really grew, we decided not to renew that lease.”
Kleffner said the more than 100-year-old company is doing well in general and has actually grown in recent years. The Albany store, located at 2707 Dawson Road, has been liquidating its merchandise for about a week and is expected to be closed by the end of October.