Stein Mart profit rises against easy comparison

Retail Editor 8, August 19, 2010

Jacksonville, Fla. - Stein Mart's home department - reconfigured as of just this week - is showing preliminary signs of process, executives said during the company's quarterly conference call this morning.

"We are excited about what home promises for us for the fall season," said David Stovall Jr., president and ceo.

It is too early to judge the impact of the reset, he noted, but added that textiles in particular are showing improvement, led by decorative pillows.

For the second quarter ended July 31, earnings climbed to $11.3 million, or 25 cents per share, from $1.5 million, or 4 cents per share, in the year-ago quarter.

Sales dropped 4.0% to $276.0 million, while comps fell 2.0%.

For the first half of the fiscal year, earnings jumped 45.5% to $25.6 million, or 57 cents per share, compared to $17.6 million, or 41 cents per share.

Sales declined 5.0% to $577.0 million, with comps off 3.0%.

 

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!