Stein Mart, Inc. Reports Unaudited Consolidated Earnings Results for the Thirteen Weeks and Thirty Nine Weeks Ended October 28, 2017; Provides Capital Expenditure Guidance for the Full Year 2017
For the thirty nine weeks, the company reported net sales of USD 933,766,000 against USD 975,000,000 a year ago. Operating loss was USD 35,360,000 against operating income of USD 11,694,000 a year ago. Loss before income taxes was USD 38,797,000 against income before income taxes of USD 8,896,000 a year ago. Net loss was USD 23,909,000 or USD 0.52 per diluted share against net income of USD 5,308,000 or USD 0.11 per diluted share a year ago. Net cash provided by operating activities was USD 52,804,000 against USD 57,177,000 a year ago. Net acquisition of property and equipment was USD 17,168,000 against USD 35,026,000 a year ago. LBITDA was USD 11,106,000 against EBITDA of USD 35,330,000 a year ago. Adjusted LBITDA was USD 7,176,000 against adjusted EBITDA of USD 42,487,000 a year ago.
For the full year 2017, capital expenditures are now expected to be USD 20 million compared to USD 42 million in 2016.