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News Flash
Stein Mart special sizes sales trend improves
11 Jan '08
2 min read
Under this scenario, comparable store sales are expected to decrease approximately eight percent for the fourth quarter of 2007. Based on the significantly steeper markdown plan, the Company is revising its fourth quarter 2007 guidance to project a loss of $(0.35) to $(0.40) per diluted share.
"While it is disappointing to incur a loss for the quarter, we must clear this excess inventory to protect our opportunities in 2008," continued Farthing.
"We will continue to evaluate the markdown cadence during the coming weeks and may take additional markdowns to help ensure that we have reached a level of inventory freshness that will give us the best opportunity to succeed in a restrained consumer climate."
"While it is disappointing to incur a loss for the quarter, we must clear this excess inventory to protect our opportunities in 2008," continued Farthing.
"We will continue to evaluate the markdown cadence during the coming weeks and may take additional markdowns to help ensure that we have reached a level of inventory freshness that will give us the best opportunity to succeed in a restrained consumer climate."
Stein Mart Inc
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