Stein Mart records revenue of $335.2 million at start of fiscal year

Retailer file for Chapter 11 bankruptcy Aug. 12 and is winding down its business.


  • By Mark Basch
  • | 5:08 p.m. September 9, 2020
  • | 5 Free Articles Remaining!
  • Business
  • Share

Stein Mart Inc. recorded revenue of $335.2 million from the beginning of its fiscal year on Feb. 2 through Aug. 12, when it filed a Chapter 11 bankruptcy petition, according to a court document filed Sept. 9.

The Jacksonville-based fashion retailer's statement of financial affairs filed in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, does not give sales figures for the corresponding period in fiscal 2019.

However, the sales through Aug. 12 are well below Stein Mart's sales of $606.5 million in the six-month period ended Aug. 3, 2019.

The bankruptcy court filing did not say what Stein Mart's net loss was before the Chapter 11 filing.

Stein Mart said after the Chapter 11 filing it expects to wind down its business and close all of its stores.

It currently has 279 stores, after closing two in August after the bankruptcy filing.

 

×

Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.