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Jax Daily Record Wednesday, Oct. 21, 202011:40 AM EST

Stein Mart records another profit since bankruptcy

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The Jacksonville-based fashion retailer reported net income of $3.8 million from Aug. 30-Oct. 3.
by: Mark Basch Contributing Writer

Stein Mart Inc. recorded its second straight monthly profit since filing for Chapter 11, according to an operating report filed Oct. 20 in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division.

The fashion retailer, which has been holding going-out-of-business sales since the Aug. 12, filing reported sales of $99 million and net income of $3.9 million for the period from Aug. 30 to Oct. 3.

Jacksonville-based Stein Mart previously had reported net income of $20.6 million and sales of $95.8 million for the period between Aug. 12 and Aug. 29.

The company has not filed a Chapter 11 reorganization plan but said it intends to close down the chain of 279 stores.

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