Clothing retailer Stein Mart Inc. (NASDAQ: SMRT) reported fourth-quarter and full-year earnings this morning that missed consensus estimates. For the quarter, the company posted adjusted EPS of $0.15, compared with a consensus estimate of $0.19. Revenue for the quarter came in at $328.1 million versus a consensus estimate of $327.2 million.
For the full year, Stein Mart posted EPS of $0.44, down from EPS of $0.66 a year ago, and lower than the consensus estimate of $0.49. Full-year revenue came in at $1.16 billion, in line with estimates.
For the current year, Stein Mart expects lower gross profits due to impacts of the company’s “pricing strategy and coupon reduction efforts to drive long-term sales growth as well as inflationary occupancy cost increases.” The company also estimates that SG&A expenses will rise 1%-2% in 2012.
Stein Mart shares are down more than -6% at $6.55 in a 52-week range of $5.65-$10.95.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
