UPDATE: Stein Mart Swings To FQ3 Loss

Stein Mart Inc (NASDAQ: SMRT) swung to a fiscal third-quarter loss.

Stein Mart posted a quarterly loss of $1.8 million, or $0.04 per share, versus a year-ago profit of $4.3 million, or $0.10 per share. Its sales declined to $258.5 million from $267.9 million. However, analysts were expecting a loss of a penny per share on sales of $258.5 million.

Stein Mart shares fell 3.70% to close at $6.24 yesterday.