Stein Mart reports $25.5 million loss in October

The Jacksonville fashion retailer closed its stores after filing for Chapter 11 bankruptcy protection in August.

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  • | 5:10 a.m. November 23, 2020
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After recording profits in its first two months in bankruptcy, Stein Mart Inc. reported a net loss in October as the company closed its stores.

The Jacksonville-based fashion retailer had a net loss of $25.5 million on sales of $51.9 million in the period from Oct. 4 to Oct. 31, according to a monthly operating report filed in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division.

Stein Mart filed for Chapter 11 bankruptcy Aug. 12 with plans to close its 281 stores.

During its going-out-of-business sales, the company had net income of $20.6 million and sales of $95.8 million for the period between Aug. 12 and Aug. 29.

It followed with a profit of $3.9 million on sales of $99 million for the period from Aug. 30 to Oct. 3.

Stein Mart closed the last of its stores Oct. 26.