By  on December 9, 2011

Stein Mart Inc. said markdowns were understated in its Nov. 17 third-quarter earnings report due to an issue with its information technology systems.

The company said the after-tax impact of the estimated additional markdowns will increase the net loss previously released by between $1.3 million and $1.6 million, or 3 to 4 cents a diluted share.

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