Stein Mart Inc. (SMRT) Thursday said profit for the first quarter rose due to "increased sales and a higher gross profit rate leveraged against relatively flat expenses". Earnings per share were higher than analyst estimates.
For the quarter, the firm posted profit of $14.69 million, up from $10.83 million reported for the year-ago period. On a per share basis, earnings were $0.33 compared with $0.25 last year.
Four analysts on average polled by Thomson Reuters estimated earnings per share of $0.29 for the quarter. Analyst estimates typically exclude one-time items. The firm said comparable-store-sales increased 1.2 percent.
The company clocked revenue of $321.36 million, up from $309.7 million reported last year. Analysts were looking for revenue of $312.30 million for the period.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.