Stein Mart profit dips in Q1
Jacksonville, Fla. — Stein Mart said Thursday that net income for the quarter ended April 28 slid 26% to $11.8 million, compared with $15.9 million in the same period last year.
Revenue was basically flat at $303.4 million, missing Wall Street’s expected $303.9 million in revenue, and same-store sales dipped 0.4%.
The company said it expects to open four new stores, relocate four stores and close four stores during the second half of 2012.
Pacific Sunwear narrows loss in Q1
Anaheim, Calif. — Pacific Sunwear of California reported Thursday a loss of $15.6 million, narrowed from a loss of $28.7 million in the year-ago period.
Sales edged up to $173.8 million from $171.9 million, and same-store sales increased 1%.
Children’s Place profit slides 19%, beats Street
Secaucus, N.J. — The Children’s Place reported Thursday that net income for the first quarter slid 19% to $23.6 million from $29.1 million last year, but beat Wall Street forecasts and prompted the retailer to raise the low end of its full-year outlook.
Revenue rose 2% to $438.5 million from $430.8 million, widely missing Wall Street’s expected $447.7 million in revenue, and same-store sales dipped 0.7%.