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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)