Stein Mart reports higher profit in first quarter

Normal
0


false
false
false







MicrosoftInternetExplorer4






/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the first quarter rose to $14.7 million from $10.8 million.



Total sales increased 3.8% to $321.4 million, while same-store sales rose 1.2%.



The retailer said it expects to open four new stores, relocate two stores and close two stores during the second half of the year.