Stein Mart, Inc. Announces Unaudited Consolidated Financial Results for Second Quarter and Six Months Ended July 29, 2017; Provides Capital Expenditure Guidance for the Full Year of Fiscal 2017
For six months, the company reported net sales of $648,371,000 against $675,473,000 a year ago. Operating loss was $11,471,000 against income of $28,017,000 a year ago. Loss before income taxes was $13,752,000 against income of $26,168,000 a year ago. Net loss was $9,293,000 against income of $16,318,000 a year ago. Net loss per diluted share was $0.20 against net income per diluted share of $0.35 a year ago. Net cash provided by operating activities was $24,943,000 against $52,592,000 a year ago. Net acquisition of property and equipment was $11,761,000 against $23,939,000 a year ago. EBITDA was $4,755,000 against $43,628,000 a year ago. Adjusted EBITDA was $6,670,000 against $46,849,000 a year ago.
For the full year 2017, capital expenditures are still planned to be $24 million or $21 million net of tenant improvement allowances.