Stein Mart, (Nasdaq: SMRT) Reports 3Q and Year-To-Date Financial Results

Stein Mart, Inc. (Nasdaq: SMRT) shared its financial results for its third quarter and first nine months ended October 31, 2009. Gross profit increased to $241.9 million or 27.6 percent of sales in the first nine months of 2009 compared to $239.3 million or 24.9 percent of sales in the same period last year.

Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.

Sign Up Today for our Penny Stock Newsletter

The gross profit rate increased primarily from increased markup and decreased markdowns, somewhat offset by higher occupancy expense rate due to lack of sales leverage. "We are pleased to report a profitable quarter despite continued challenging sales trends," noted David H. Stovall, Jr., president and chief executive officer, "Our bottom line continues to benefit from lowered overall inventory levels, less clearance, reduced markdowns and lowered expenses."Stein Mart stores offer the fashion merchandise, service and presentation of a better department or specialty store, at prices up to 60 percent off department and specialty store original prices, every day. Currently with locations from California to Massachusetts, Stein Mart's focused assortment of merchandise features current season, moderate to better fashion apparel for women and men, as well as accessories, gifts, linens and shoes.

Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.

About Us

Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.

Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.

Please click here to read the full disclaimer