Stein Mart on road to recovery.(Business Today)
Home Textiles Today, August, 2004 by Hogsett, Don
JACKSONVILLE, FLA. -- Extending a recent earnings turnaround, Stein Mart Inc. parlayed a double-digit gain in same-store sales, along with stronger margins, lower costs and leaner stockpiles, into a second quarter profit of $5.7 million, reversing a year-ago loss of $2.8 million. In a lift to the bottom line, the Southeastern retailer recorded an impressive 10.3 percent increase in same-store sales.
Following the closing of underperforming doors, overall sales rose at a slower pace of 6.5 percent, to $320.6 million from $301 million last year. As part of an overhaul of operations that underpinned the earnings recovery, Stein Mart closed 16 underperforming units last year, and another six during the first six months of 2004. Those stores recorded an...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express