Categories Consumer, Retail

Stein Mart (SMRT) Q4 2019 Earnings Snapshot

— Stein Mart (NASDAQ: SMRT) reported a loss of $0.01 per share in fourth quarter of 2019 compared to a income of $0.08 per share last year.

— Net sales were $336.6 million vs. $340.8 million in the fourth quarter of 2018.

Earnings Update by AlphaStreet

— Comparable sales decreased 0.1%. Omni sales, defined as all online sales, increased 7%.

— At the end of January, Stein Mart announced that it will be acquired by an affiliate of Kingswood Capital Management, L.P. for $0.90 per share in cash. The merger is expected to close in the first half of calendar year 2020.

— SMRT stock had advanced 8% in the past three months and dropped 35% in the past one year. 

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