By  on May 22, 2014

Stein Mart Inc. said its first quarter profits decreased 4.2 percent to $14.1 million, or 31 cents a diluted share, from $14.7 million, or 33 cents, a year earlier. Adjusting for costs associated with supply chain improvements and e-commerce start up costs, the company’s profits were basically flat.

Sales for the three months ended May 3 advanced 2.3 percent to $328.9 million from $321.4 million with a comparable-store sales increase of 2.6 percent.

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