Revenue at stores open at least one year climbed 8% last month for discount retailer Stein Mart.

Stein Mart reported that it has restated its 2011 periods and first quarter 2012 results, released its full-year 2012 financial numbers, and said it will unveil several key initiatives in 2013.

Stein Mart said Wednesday that it has been granted approval to continue its listing on the Nasdaq stock market while it works to secure full compliance with listing requirements.

Stein Mart is expanding with the opening of seven stores this fall.

Stein Mart said that it received a notice of non-compliance from Nasdaq; specifically the retailer has not filed its second-quarter report.

Stein Mart reported that profit slipped to $730,000 from $1.3 million last year, but second-quarter results managed to meet Wall Street's view, as revenue climbed.

Costco Wholesale Corp. set the July same-store sales pace when it reported Wednesday a better-than-expected gain of 5%, and other discounters answered Thursday with similar positive results.

As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates.

Stein Mart said that net income for the quarter ended April 28 slid 26% to $11.8 million, compared with $15.9 million in the same period last year.

Stein Mart said it will open three new stores on March 15, located in Irvine, Calif.; Suwanee, Ga.; and Sunset Hills, Mo.

In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

Level 3 Communications said that Stein Mart will implement its Smart WAN Solution to support critical business applications.