Total revenues were $157.3 million compared with $165.8 million in the prior year period. Adjusted for the sale of Fannie May Confection Brands (which closed on May 30, 2017), total revenues increased 1.81 percent. EPS loss for the quarter was $0.20 per share, compared with a loss of $0.24 per share in the prior year period. Adjusted for the sale of Fannie May, the prior year period EPS loss was $0.201 per share. Adjusted EBITDA1 was a loss of $10.1 million, compared with an Adjusted EBITDA1 loss of $13.1 million in the prior year period. Reflecting the sale of Fannie May, Adjusted EBITDA1 loss in the prior year period was $9.5 million. Click Read More below for additional information.
Stein Mart, Inc. (NASDAQ: SMRT) today reported that its comparable stores sales for the nine-week period ended January 5, 2019 decreased 3.3 percent on a shifted basis, which compares to the nine-week period ended January 6, 2018. Results reflect lower store traffic partially offset by higher average unit retail and digital sales growth of 20 percent.
“Holiday sales were below our expectations, with traffic impacted by changes we made to our holiday marketing strategy,” said Hunt Hawkins, Chief Executive Officer. “Notwithstanding our holiday sales, fiscal 2018 operating results will be significantly better than last year.”