Content about Stein Mart Inc.

March 13, 2014

Stein Mart Inc. reported drops in net income and sales during the fourth quarter of fiscal 2013, which it mainly attributed to the year-ago period having one extra week.

Jacksonville, Fla. – Stein Mart Inc. reported drops in net income and sales during the fourth quarter of fiscal 2013, which it mainly attributed to the year-ago period having one extra week. The retailer remains optimistic as it plans to open 10 new stores and six relocated stores in fiscal 2014.

Fourth quarter net income dropped 42% to $7.4 million from $13.1 million compared to the same period in the prior year, while total sale declined 2% to $360.8 million from $368.6 million. In one bright note, same-store sales grew 3.1%.

January 22, 2014

Stein Mart, Inc. has named Burton M. Tansky to the company's board of directors.

Jacksonville, Fla. – Stein Mart, Inc. has named Burton M. Tansky to the company's board of directors. Tansky was with The Neiman Marcus Group for 23 years, retiring as president and CEO in 2010.

September 6, 2013

Stein Mart Inc. has officially opened its online store, which offers both brick-and-mortar store merchandise and unique online-only offerings.

Jacksonville, Fla. -- Stein Mart Inc. has officially opened its online store, which offers both brick-and-mortar store merchandise and unique online-only offerings. The chain is among the first in the off-price category to enter e-commerce

September 4, 2013

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Stein Mart Inc.

Jacksonville, Fla. - Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Stein Mart Inc. The investigation focuses on whether Stein Mart and/or certain of its officers complied with the federal securities laws when making statements to investors.

August 22, 2013

Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales.

Jacksonville, Fla. -- Stein Mart Inc. reported that its second-quarter net income increased 48%, helped by higher same-store sales. The retailer also announced that the SEC is conducting an investigation related to Stein Mart's restatement of prior years' financial statements and its change in its auditors.

For the quarter ended Aug. 3, Stein Mart earned $3.4 million up from $2.3 million in the same quarter of 2012.

Revenue increased 4%, to $291 million from $280.4 million. Same-store sales rose 6.4%.

November 9, 2012

Stein Mart Inc. announced that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

Jacksonville, Fla. -- Stein Mart Inc. announced Friday that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

March 8, 2012

Stein Mart Inc. reported that its net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year.

Jacksonville, Fla. -- Stein Mart Inc. reported Thursday that its net income fell to $5.7 million for the fiscal fourth quarter, down from $18.8 million last year. The chain said it was returning to its strategy of emphasizing everyday low prices after heavy coupon promotions took a toll on the retailer's financial performance during the past year.

Revenue for the quarter ended Jan. 28 was down nearly 3% to $328.1 million, from $336.7 million. Same-store sales were down 2.2%.

December 23, 2011

Stein Mart Inc. reported that its third-quarter loss widened after correcting for a computer problem that caused an error in prior results.

Jacksonville, Fla. -- Stein Mart Inc. reported Friday that its third-quarter loss widened after correcting for a computer problem that caused an error in prior results.

The retailer posted a revised loss of $3.1 million for the quarter, instead of the $1.8 million loss previously reported. That loss compares to a profit of $4.3 million in the year-ago quarter.
 

December 14, 2011

Stein Mart Inc. said that it has been put on notice by the Nasdaq exchange because it did not file its third-quarter results by the deadline.

Jacksonville, Fla. -- Stein Mart Inc. said Wednesday that it has been put on notice by the Nasdaq exchange because it did not file its third-quarter results by the deadline.

The retailer said it has been given 60 days to submit a plan to regain compliance, or it could be delisted from the Nasdaq exchange.

December 9, 2011

Jacksonville, Fla. -- Stein Mart Inc. on Thursday said it has had to revise its Q3 financial results, because it mishandled records related to a pending changeover in its electronic inventory system. The computer error led the retailer to miss recording permanent markdowns for the quarter ended Oct. 29.

The adjustment, which will reduce gross margin and inventory, will widen Stein Mart’s third-quarter loss by $1.3-$1.6 million. The retailer had reported a loss of $1.8 million for the period.

November 17, 2011

Stein Mart Inc. reported Thursday that it moved to a loss in the quarter ended Oct. 29, recording a loss of $1.8 million compared with a profit of $4.3 million a year earlier.

Jacksonville, Fla. -- Stein Mart Inc. reported Thursday that it moved to a loss in the quarter ended Oct. 29, recording a loss of $1.8 million compared with a profit of $4.3 million a year earlier.

Gross profit margin fell to 23.8% from 25.4%, due mainly to increased markdowns and higher buying costs.
 
Revenue dropped 4% to $258.5 million from $267.9 million, a consistent trend since 2007. Same-store sales fell 2.9%.

January 11, 2009

Stein Mart Inc. said Friday it is laying off more than 200 employees in an...

December 1, 2008

Stein Mart Inc. announced Tuesday it has appointed David H. Stovall, Jr. as president and...

April 30, 2008

Stein Mart, Inc. announced Thursday that it has named Glori Katz senior VP, marketing and...