=Stein Mart (SMRT) reported earnings on Wed 23 May 18 (a/h)

Stein Mart reports Q1, raises 1H profit forecast 

• Q1 EPS $0.16 vs. $0.08 last year; rev -3% to $327 mln; comps -0.7% (no estimates).
• "We now expect first half 2018 operating income to be in excess of $10 million [up from >$8 mln] compared to an operating loss of $11.5 million for the first half of 2017. Our outlook has improved due to first quarter results along with expected additional first-half gross profit expansion and lower SG&A expenses.
• "Second quarter of 2018 operating income is expected to be positive based on the following factors: We anticipate flat to low single-digit increases in comparable sales for the second quarter driven by much higher regular-price selling We expect gross profit expansion in excess of 400 basis points SG&A expenses are expected to be at least $5 million lower, inclusive of higher Ecommerce expenses."

=Stein Mart (SMRT) reported earnings on Wed 16 Aug 17 (a/h)

Stein Mart misses by $0.08, beats on revs; comparable store sales -5%

• Reports Q2 (Jul) loss of $0.28 per share, $0.08 worse than the single analyst estimate of ($0.20); revenues fell 2.7% year/year to $311.03 mln vs the $303.97 mln single analyst estimate.
  • Average store inventories 15 percent lower than last year's second quarter.
  • Comparable store sales decreased 5.0 percent
  • Ecommerce sales were up 41 percent over last year's second quarter.
  • Had 292 stores at the end of the second quarter compared to 283 at the end of the second quarter last year.
  • No stores were opened or closed during the second quarter.
  • Now expecting to open a total of 10 new stores and close six stores in 2017.
• "Our second quarter sales trends improved from the first quarter and were strongest in July as we more aggressively priced our clearance merchandise," said Hunt Hawkins, Chief Executive Officer. "We are very pleased with the progress we made on our inventory management initiatives that resulted in 15 percent lower average store inventories at the end of the quarter. It is important that our inventories are in a very good position and well-balanced going into the fall season."

=Stein Mart (SMRT) reported earnings on Wed 17 May 17 (a/h)

** charts after earnings **

 

Stein Mart misses by $0.07, misses on revs; co lowers gross profit rate, now sees it significantly less than previously expected, co also suspends quarterly dividend and reduces CapEx:

• Reports Q1 (Apr) earnings of $0.08 per share, $0.07 worse than the two analyst estimate of $0.15; revenues fell 5.2% year/year to $337.3 mln vs the $362.21 mln two analyst estimate
  • Comparable store sales decreased 7.6 percent primarily due to lower traffic.
    Ecommerce sales were up 38 percent over last year's first quarter.
• Co continues to expect its total sales to be at least 4% above its comparable store sales for the year due to net new stores and this year's additional 53rd week
• Co now expect its gross profit rate will be about the same as the fiscal 2016 rate
• This is significantly less than previously estimated primarily due to higher first and second quarter markdowns to reduce inventories for the remainder of the year
  • Co said, "If first quarter sales trends continue into the second quarter, we estimate that our loss per share will be in the range of $0.20 to $0.25 for the second quarter." Consensus calls for a loss of ($0.02)
  • Co said, "We continue to experience softer than planned store traffic and sales. As a result, markdowns were significantly higher for the quarter despite our focus on inventory management. Given the uncertain retail environment, we are being more conservative planning fall, keeping a higher percentage of our buying in reserve to opportunistically take advantage of any sales upside. We expect to see additional inventory reductions as the year progresses," said Hunt Hawkins, Chief Executive Officer
• Suspending the $0.075 quarterly dividend will free up approximately $14 million of cash to apply against debt on an annual basis
• Capital expenditures totaled $7.2 million for the first quarter of 2017 compared to $11.3 million in 2016. Planned capital expenditures for fiscal 2017 have been decreased to ~$24 million or $21 million net of tenant improvement allowances. Capital expenditures were $42 million or $36 million net of tenant improvement allowances in fiscal 2016.

This week's biggest % winners & losers : Nov 14 - 18, 16 (wk 46)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare:QHC (6.98 +47.88%),ARA (24.1 +23.15%),CYH (5.78 +18.69%),RMTI(6.44 +17.73%),UAM (9.93 +17.65%),ARRY (7.91 +17.36%),SGRY (17.6 +16.94%)
• Industrials:CECE (12.85 +18.32%)
• Consumer Discretionary:MDCA (6.58 +41.4%), HAR (109.35 +24.76%), PLCE (100.1 +21.19%)
• Information Technology:AMD (8.74 +30.71%), MENT (36.5 +18.95%),CVT (35.97 +18.63%), NUAN (16.95 +18.2%),OCLR (9.85 +17.54%),TWLO (36.88 +16.86%)
• Energy: WNR (36.52 +28.91%),ANW (10.7 +25.88%),EPE (4.27 +17.96%)

This week's top 20 % losers

• Healthcare:DVAX (4.75 -59.05%),ELGX (7.69 -24.76%),EXAS (14.53 -17.82%),MNK(54.59 -17.17%),FLXN (18.29 -15.44%),PDLI (3.04 -15.08%),PBYI (43.25 -14.19%)
• Consumer Discretionary: SMRT (5.1 -25.11%),PLNT (20.01 -18.46%),GIII (27.08 -12.93%),GPS (25.61 -11.9%),EROS (15.95 -11.39%)
• Information Technology:GLOB (38.43 -13.66%),ELLI (82.26 -11.49%)
• Financials:FNBC (6.25 -24.24%),RSO (9.47 -22.19%),ONDK (4.81 -13.49%)
• Energy:OSG (7.86 -13.15%)
• Consumer Staples:BETR (9.84 -29.71%)
• Telecommunication Services:NIHD (1.8 -21.74%)

Stein Mart (SMRT) reported earnings Thur 9/29 and 11/17 2016 (b/o)

** charts after earnings **

Stein Mart CEO Dawn Robertson has resigned as head of the company, effective Sept. 27, after just six months in the role.   D. Hunt Hawkins, Stein Mart’s president and chief operating officer, has been named Interim CEO.

• Q2 earnings 9/29/16; CEO resigns

• Q3 earnings 11/17/16