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Stein Mart can't keep up momentum
Stein Mart says warm weather is to blame for its lackluster performance in the third quarter as the company makes plans to increase promotions to improve its top-line growth.
The off-price retailer said that for the third quarter ended Oct. 31, same-store sales fell 2.3%. Total sales also dropped 1% to $300.7 million during the same time period. Profits dipped to $82.2 million, or 27.3% of sales compared to $84.6 million or 27.8% of sales during the same time period in 2014.

