Stein Mart, Inc.NASDAQ
Thu, Nov. 17, 8:02 AM
- Stein Mart (NASDAQ:SMRT) reports comparable sales decreased 4.6% in Q3. Total sales were down 0.4%, despite the addition of 8 new stores during the quarter.
- Higher occupancy costs in addition to the lower level of sales sent the company's gross margin rate down 300 bps to 24.3% of sales.
- SMRT on marketing: "We introduced new marketing and promotional changes, as well as new merchandising strategies, during the quarter which were not embraced by our customer."
- Previously: Stein Mart misses by $0.09, misses on revenue (Nov. 17)
- SMRT -1.41% premarket to $6.71.
Thu, Nov. 17, 7:32 AM
Wed, Nov. 16, 5:30 PM
Wed, Nov. 9, 1:14 PM
- Retail store chains are breaking higher as investors digest the impact of the GOP sweep.
- A very popular topic on Q3 conference calls was election anxiety in the U.S., with the thought that consumers were holding back.
- An interesting point is that in recent consumer sentiment surveys Republicans showed a sharply lower positive reading on the state of affairs than Democrats. If the theory holds out, close to 60M Trump voters will now open their pocketbooks a bit more.
- Gainers include Fred's (FRED +10.5%), Tuesday Morning (TUES +7.1%), Kroger (KR +4.2%), Whole Foods Market (WFM +2.5%), Supervalu (SVU +4.2%), Ollie's Bargain Outlet Holdings (OLLI +3%) Stage Stores (SSI +6.7%), Build-A-Bear Workshop (BBW +2.7%), Kohl's(KSS +3.3%), Dillard's (DDS +2.2%), Stein Mart (SMRT +4.5%), Tailored Brands (TLRD +4.1%), Guess (GES +3.6%), Gap (GPS +3.1%), Buckle (BKE +3.6%) and PriceSmart (PSMT +1.4%).
Thu, Sep. 29, 12:46 PM
Thu, Sep. 29, 8:49 AM
- Stein Mart (NASDAQ:SMRT) announces that CEO Dawn Robertson has resigned from her post, effective as of September 27.
- Robertson also performed the duties of the chief merchandising officer.
- Chief Operating Officer D. Hunt Hawkins has been named Interim CEO to fill the position. A search for a new CMO has been initiated.
- SMRT --3.05% premarket to $7.31
- Source: Press Release
Fri, Sep. 16, 3:12 PM
Fri, Sep. 9, 9:27 AM
- A survey from William Blair indicates that teenagers and young adults have increased their visits to malls this year to reverse a multi-year trend.
- In what may come as a surprise, teens ranked malls above movie theaters, restaurants, and sports clubs/extracurriculars as their most popular place to meet.
- Despite the depressed levels of overall sales this year for mall retailers, the read on teens could be a possible indicator that the mall model will evolve and survive, instead of disappear.
- "While overall mall traffic remains challenging, our survey this year noted a material increase in the number of respondents who indicated they are visiting malls more often than last year, perhaps suggesting that malls’ efforts to increase relevancy (through more experiential brands and the addition of attractive entertainment and dining options) are beginning to bear fruit," says Bernstein analyst Sharon Zackfia.
- Mall retailers: AEO, ANF, ASNA, BKE, BOOT, CATO, CBK, CHS, CTRN, DSW, EXPR, FRAN, GCO, GES, GPS, LB, NWY, PLCE, SCVL, SMRT, SSI, TLYS, URBN, LULU.
Sat, Aug. 27, 11:34 AM
- Many retailers are tightening up this year by reducing their store count or converting more locations to e-commerce fulfillment centers. Analysts note that although the strategy will lower revenue, over time the group should see improved bottom lines as underperforming stores are cut back and online efficiency improves. Amid the skittish trading with chain store stocks there could be some value deals.
- Store chains that currently trade with a PE ratio below 15 and offer a dividend yield of at least 2% include: TLRD, BKE, SMRT, GPS, AEO, CHS, CATO, TGT, KSS, M, HVT, WSM, PIR, BKS, OUTR, ODP, SPLS.
- ETFs: XLY, XRT, VCR, RTH, RETL, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, JHMC, CNDF.
Fri, Aug. 19, 7:49 AM
- Stein Mart (NASDAQ:SMRT) reports comparable-store sales fell 1.4% in Q2.
- Gross margin rate slipped 50 bps to 28% due to higher markdowns and higher occupancy costs.
- SG&A expense rate constant Y/Y at 26.2%.
- Inventory rose 0.9% to $279.69M.
- Store count +14 Y/Y to 283.
- FY2016 Guidance: Gross margin rate: +50 bps Y/Y; SG&A expense: ~$360M; Tax rate: less than 38.5%.
- SMRT +10.79% premarket.
Fri, Aug. 19, 7:31 AM
Thu, Aug. 18, 5:30 PM
Tue, Aug. 16, 10:26 AM
- The RetailMeNot Promotions Index will measure the average retail promotions level from the top 500 U.S. retailers across 19 different categories.
- The broad promotion index currently reads 32.58% which RetailMeNot calls a "moderate" level.
- Tracking of the RetailMeNot data could be of particular interest in the apparel store sector (GPS, LB, AEO, ANF, CHS, PLCE, DSW, DXLG, FRAN, BKE, SSI, DEST, NWY, CTRN, GES, TLRD, SMRT.
- Retail ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, JHMC).
- Source: Press Release
Tue, Jun. 21, 1:23 PM
Thu, May 19, 7:31 AM
- Stein Mart (NASDAQ:SMRT): Q1 EPS of $0.29 beats by $0.03.
- Revenue of $355.71M (+0.6% Y/Y) misses by $9.06M.
- New PR
- Old PR
Wed, May 18, 5:30 PM