Stein Mart reports higher profit in first quarter

Jacksonville, Fla. -- Stein Mart reported Thursday that net income for the first quarter rose to $14.7 million from $10.8 million.

Total sales increased 3.8% to $321.4 million, while same-store sales rose 1.2%.

The retailer said it expects to open four new stores, relocate two stores and close two stores during the second half of the year.

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