Stein Mart Inc SMRT reported a decline in its fiscal second-quarter earnings.
Stein Mart reported its quarterly profit at $1.3 million, or $0.03 per share, down from $11.3 million, or $0.25 per share, in the year-ago period. However, analysts were expecting earnings of $0.06 per share. Stein Mart's total sales dropped 2.1% to $270.2 million and same-store sales declined 1.1%.
SMRT shares fell 1.14% to close at $7.38 yesterday.
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