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EX-99.1 - PRESS RELEASE - STEIN MART INCd207853dex991.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K/A

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

May 19, 2016

(Date of Report; Date of Earliest Event Reported)

 

 

STEIN MART, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Florida   0-20052   64-0466198

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

1200 Riverplace Blvd., Jacksonville, Florida 32207

(Address of Principal Executive Offices Including Zip Code)

(904) 346-1500

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On June 7, 2016, Stein Mart issued a press release announcing that it is revising its preliminary financial results for the first quarter ended April 30, 2016 previously released on May 19, 2016. The revision, which increases selling, general and administrative expenses by $675,000, was required to record additional accruals for actual and anticipated legal settlements. Subsequent to the previous release but prior to the filing of our Form 10-Q for the first quarter ended April 30, 2016, new facts developed on these existing matters which resulted in the adjustment. As a result of the revision, previously reported net income will decrease $0.4 million to $13.3 million and diluted earnings per share will decrease $0.01 to $0.29 per diluted share.

The Stein Mart press release is attached as Exhibit 99.1.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibit

 

99.1    Stein Mart, Inc. press release dated June 7, 2016.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      STEIN MART, INC.
     

(Registrant)

 

Date: June 7, 2016     By:  

/s/ Gregory W. Kleffner

      Gregory W. Kleffner
      Executive Vice President and Chief Financial Officer


EXHIBIT INDEX

 

99.1    Stein Mart, Inc. press release dated June 7, 2016.