Search
 

Stein Mart Earnings Nab 46%

JACKSONVILLE, FL-Stein Mart's Q1 earnings of $16.8 million equated to a 46% increase over the same period last year.

By Dana Dubriwny | Updated on May 19, 2005

JACKSONVILLE, FL-Stein Mart Inc. reported first quarter earnings of $16.8 million, 46% increase over net income $11.5 million in the first quarter of 2004. The company also reported $0.38 for diluted shares, compared to $0.27 in the same quarter last year.

Net sales for the first quarter were $380.7 million, a 4.7% increase over the $363.6 million in net sales for the first quarter of 2004. Comparable store sales increased 3.2% from the first quarter of 2004 to the first quarter of 2005.

“First quarter sales were driven by continued strength in ladies’ apparel and accessories, and menswear, and by higher-than-expected full-priced selling,” said Michael D. Fisher, president and chief executive officer. “We believe our first quarter performance validates our continued focus on improved productivity which, in turn, produces substantially greater profit on a more normalized sales increase.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.