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Stein Mart stock gets a bump from Amazon locker partnership

Anne Stych
Stein Mart stock gets a bump from Amazon locker partnership

Stein Mart’s stock got a 45 percent bump Tuesday from the news that the department store chain will install Amazon lockers at nearly 200 of its locations in 28 states in an effort to attract more foot traffic. The news came just before the company released fiscal first-quarter 2019 results today showing net sales were down more than $12 million from the same period a year ago. Amazon (NASDAQ: AMZN) shoppers can choose to have their packages delivered to the lockers, which are currently available at Whole Foods markets, convenience stores and other locations in more 70 major metropolitan areas across the country then go pick them up.