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Wednesday, May 23, 2018

=Stein Mart (SMRT) reported earnings on Wed 23 May 18 (a/h)

Stein Mart reports Q1, raises 1H profit forecast 
  • Q1 EPS $0.16 vs. $0.08 last year; rev -3% to $327 mln; comps -0.7% (no estimates).
  • "We now expect first half 2018 operating income to be in excess of $10 million [up from >$8 mln] compared to an operating loss of $11.5 million for the first half of 2017. Our outlook has improved due to first quarter results along with expected additional first-half gross profit expansion and lower SG&A expenses.
  • "Second quarter of 2018 operating income is expected to be positive based on the following factors: We anticipate flat to low single-digit increases in comparable sales for the second quarter driven by much higher regular-price selling We expect gross profit expansion in excess of 400 basis points SG&A expenses are expected to be at least $5 million lower, inclusive of higher Ecommerce expenses."

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